Pimax Launches Affordable SLAM-Tracked Micro-OLED VR Headset
The Dream Air SE delivers premium VR experiences at an accessible price, integrating advanced features like micro-OLED visuals, tailored pancake optics, and built-in audio. It supports both SLAM and Lighthouse tracking, catering to diverse user needs. Key highlights include:
Micro-OLED Panels: 2560 x 2560 resolution per eye for vivid colors and true blacks.
Refined Optics: Optimized FOV and stereo overlap for an immersive experience.
Pricing: SLAM version at $1199 (Prime: $699); Lighthouse version at $899 (Prime: $599).
Pimax introduced the Dream Air in December 2024 as the world's smallest 8K resolution VR headset. Now, the updated Dream Air takes immersive VR experiences to the next levels, with upgrades across visuals, optics, tracking, and ergonomics:
Sony Micro-OLED Panels: 3840 x 3552 resolution per eye, delivering over 27 million lifelike pixels. The upgraded panels offer enhanced brightness, color depth, and a wider 20° chief ray angle for unmatched visuals.
Next-Gen Pancake Lenses: Edge-to-edge clarity with minimal glare and a large sweet spot.
Comprehensive Tracking: Tobii-powered 120Hz eye-tracking, SLAM, hand-tracking, and controller support.
Pricing: SLAM version at $2099 (Prime: $1399); Lighthouse version at $1899 (Prime: $1199).
Both models are set to ship in Q3 2025, with prototypes in final testing stages.
Innovative Tracking and Interaction
Pimax's proprietary SLAM tracking technology uses four cameras and over a million tracking points to rival base station systems, offering precision without occlusion or interference. Hand-tracking, debuting in beta for the Crystal and Dream Air series in Q3, further enhances user interaction.
Crystal Super and Wireless Connectivity
The Crystal Super with a 50 PPD optical engine is shipping now, while the 57 PPD version launches in Q2. The micro-OLED engine, featuring Sony's upgraded panels, arrives in Q3 at $1199. Pimax's 60G Airlink, also debuting in Q3, introduces wireless capabilities to the Crystal for seamless connectivity.
Pimax continues to lead the VR industry, delivering cutting-edge solutions tailored to a wide range of users.
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TERAGO Reports Second Quarter and Six Months Ended 2025 Financial Results
TORONTO, /CNW/ - TERAGO Inc. ("TERAGO" or the "Company") (TSX: TGO) ( Canada's largest mmWave spectrum holder (91% of spectrum held) and a leading provider of Managed Fixed Wireless Internet, 5G Private Wireless Networks and SD-WAN solutions today reported financial and operating results for the second quarter and six months ended June 30, 2025. All figures reported in this release are in thousands of Canadian dollars. "We continued our momentum in the second quarter across key operational and financial metrics, including gross margin, ARPA, backlog, and cost discipline. Our revenue reflected a strategic decision to allow unprofitable customers to churn as part of our disciplined approach to profitability and long-term value creation. mmWave spectrum is becoming increasingly important as demand for high-capacity, low-latency connectivity continues to rise, and we are encouraged by the progress ISED made in Q2 accepting all respondents' remarks to its mmWave consultation. We look forward to their decision on the mmWave spectrum, including next steps toward a future auction. Our strong fundamentals, valuable spectrum holdings, and consistent execution position us well to create long term value for our stakeholders. With our current debt facility maturing at the end of September, we remain confident in our ability to refinance and position the Company for future growth." said Daniel Vucinic, CEO of TERAGO. Selected Financial Highlights and Key Developments Total revenue decreased for quarter and six months ended June 30, 2025 by 3.5% to $6,344 and by 2.2% to $12,758 respectively, compared to $6,577 and $13,049 in the same periods in 2024. The decrease was primarily driven by increased churn 1, stemming from management's continued initiatives to optimize the customer base by discontinuing service to unprofitable accounts. This was partially offset by increase in revenue from new customers in the current period. Adjusted EBITDA 1,2 for the quarter ended June 30, 2025 decreased by 4.0% to $903 as compared to an Adjusted EBITDA 1,2 of $941 for the comparative period in 2024. The decrease in the quarter was a result of lower revenue partially offset by lower operating expenses. For the six months ended June 30, 2025, Adjusted EBITDA 1,2 increased by 3.4% to $1,935 as compared to an Adjusted EBITDA 1,2 of $1,871 for the same period in 2024. This increase was a result of higher gross margin 1 and lower operating expenses in the current period compared to same period in the prior year. Net loss for the quarter and six months ended June 30, 2025, was $4,256 or $(0.21) per share (basic and diluted) and $7,792 or $(0.39) per share (basic and diluted) respectively, compared to a loss of $3,212 or $(0.16) per share (basic and diluted) and $6,759 or $(0.34) per share (basic and diluted), respectively in the same period in 2024. ARPA 1 for the quarter ended June 30, 2025 increased by 2.3% to $1,228 compared to $1,200 for the same period in 2024. For the six months ended June 30, 2025, ARPA 1 increased by 4.2% to $1,229 compared to $1,179 for the same period in 2024. The increase in ARPA 1 was a result of the Company's ongoing focus to attract mid-market and large-scale, predominantly multi-location customers and changes in the product mix. Churn 1 for the quarter ended June 30, 2025 was lower at 0.9% compared to 1.0% for the same period in 2024. The decrease in customer churn 1 was due to the continued execution of the Company's value creation strategy to focus on mid-market and enterprise customers, as well as implementing new strategies in regard to customer renewals and retention. For the six months ended June 30, 2025, Churn 1 was higher at 1.0% compared to 0.9% for the same period in 2024. The increase in customer churn 1 was primarily driven by management's continued initiatives to optimize the customer base by discontinuing service to unprofitable accounts, partially offset by increase in revenue from new customers in the current year period. The Company continues to review, modify and improve its customer experience practices with a focus on reducing customer churn. Backlog MRR 1 in the connectivity business increased year over year to $93,279 as of June 30, 2025, compared to $46,584 for the same period in 2024. The increase in backlog MRR 1 was a result of increased sales bookings in fiscal 2024 along with Company's continued focus on larger multi-site customers and on profitable revenue generation. Comparison of the quarter and six months ended June 30, 2025 and 2024 (In thousands of dollars, except with respect to gross profit margin 1, earnings per share 1, Backlog MRR 1, and ARPA 1) (in thousands of dollars, unaudited) Quarter ended June 30 Six months ended June 30 2025 2024 % Chg 2025 2024 % Chg Financial Total Revenue $ 6,344 6,577 (3.5) $ 12,758 13,049 (2.2) Cost of Services 1 $ 1,663 1,776 (6.4) $ 3,335 3,527 (5.4) Gross Profit Margin 1 73.8 % 73.0 % 1.1 73.9 % 73.0 % 1.2 Salaries and Related Costs 1 $ 2,508 2,574 (2.6) $ 5,232 5,243 (0.2) Other Operating Expenses 1 $ 1,270 1,286 (1.3) $ 2,256 2,408 (6.3) Adjusted EBITDA 1,2 $ 903 941 (4.0) $ 1,935 1,871 3.4 Net Loss $ (4,256) (3,212) 32.5 $ (7,792) (6,759) 15.3 Basic & diluted loss per share $ (0.21) (0.16) 31.5 $ (0.39) (0.34) 14.4 Quarter ended June 30 Six months ended June 30 2025 2024 Chg 2025 2024 Chg Operating Backlog MRR 1 Connectivity $ 93,279 46,584 46,695 $ 93,279 46,584 46,695 Churn Rate 1 Connectivity 0.9 % 1.0 % -0.1 % 1.0 % 0.9 % 0.1 % ARPA 1 Connectivity $ 1,228 1,200 2.3 % $ 1,229 1,179 4.2 % Conference Call Management will host a conference call on Wednesday, August 13, 2025, at 10:00 AM ET to discuss these results. To access the conference call, please dial 888-506-0062 or 973-528-0011 and use conference ID 259107 if applicable. Please call the conference telephone number 15 minutes prior to the start time so that you are in the queue for an operator to assist in registering and patching you through. A replay of the conference call will be available through Wednesday, August 27, 2025 and can be accessed by dialing 877-481-4010 or 919-882-2331 and using passcode 52797#. A reconciliation of net loss to Adjusted EBITDA 1 is found below and in the MD&A for the quarter and six months ended June 30, 2025. Adjusted EBITDA 1 does not have any standardized meaning under IFRS/GAAP. TERAGO's method of calculating Adjusted EBITDA 1 may differ from other issuers and, accordingly, Adjusted EBITDA 1 may not be comparable to similar measures presented by other issuers. The table below reconciles net loss to Adjusted EBITDA 1,2 for the quarter and six months ended June 30, 2025 and 2024. _____________________________ (1) See " Non-IFRS Measures" (1) Non-IFRS Measures This press release contains references to "Cost of Services", "Gross Profit Margin", Salaries and Related Costs", "Other Operating Expenses", "Adjusted EBITDA", "Backlog MRR", "Churn" and "ARPA" which are not measures prescribed by IFRS Accounting Standards ("IFRS"). Cost of Services consists of expenses related to delivering service to customers and servicing the operations of our networks. These expenses include costs for the lease of intercity facilities to connect our cities, internet transit and peering costs paid to other carriers, network real estate lease expense, spectrum lease expenses, salaries and related costs of staff directly associated with the cost of services. Gross Profit Margin % consists of gross profit margin divided by revenue where gross profit margin is revenue less cost of services. Salaries and related costs includes regular payroll related expenses, commissions and consulting fees. All share based compensation, restructuring, other related costs are excluded from Salaries and related costs. Other operating expenses includes sales commission expense, advertising and marketing expenses, travel expenses, administrative expenses including insurance and professional fees, communication expenses, maintenance expenses and rent expenses for office facilities. All restructuring and other related costs are excluded from other operating expenses. Adjusted EBITDA - The Company believes that Adjusted EBITDA is useful additional information to management, the Board and investors as it provides an indication of the operational results generated by its business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and amortization and it excludes items that could affect the comparability of our operational results and could potentially alter the trends analysis in business performance. Excluding these items does not necessarily imply they are non-recurring, infrequent or unusual. Adjusted EBITDA is also used by some investors and analysts for the purpose of valuing a company. The Company calculates Adjusted EBITDA as earnings before deducting interest, taxes, depreciation and amortization, foreign exchange gain or loss, finance costs, finance income, gain or loss on disposal of network assets, property and equipment, impairment of property, plant & equipment and intangible assets, stock-based compensation and restructuring costs. Investors are cautioned that Adjusted EBITDA should not be construed as an alternative to operating earnings (losses), or net earnings (losses) determined in accordance with IFRS as an indicator of our financial performance or as a measure of our liquidity and cash flows. Adjusted EBITDA does not take into account the impact of working capital changes, capital expenditures, debt principal reductions and other sources and uses of cash, which are disclosed in the consolidated statements of cash flows. Backlog MRR - The term "Backlog MRR" is a measure of contracted monthly recurring revenue (MRR) from customers that have not yet been provisioned. The Company believes backlog MRR is useful additional information as it provides an indication of future revenue. Backlog MRR is not a recognized measure under IFRS and may not translate into future revenue, and accordingly, investors are cautioned in using it. The Company calculates backlog MRR by summing the MRR of new customer contracts and upgrades that are signed but not yet provisioned, as at the end of the period. TERAGO's method of calculating backlog MRR may differ from other issuers and, accordingly, backlog MRR may not be comparable to similar measures presented by other issuers. ARPA - The term "ARPA" refers to the Company's average revenue per account per month in the period. The Company believes that ARPA is useful supplemental information as it provides an indication of our revenue from an individual customer on a per month basis. ARPA is not a recognized measure under IFRS and, accordingly, investors are cautioned that ARPA should not be construed as an alternative to revenue determined in accordance with IFRS as an indicator of our financial performance. The Company calculates ARPA by dividing our total revenue before revenue from early terminations by the number of customers in service during the period and we express ARPA as a rate per month. TERAGO's method of calculating ARPA has changed from the Company's past disclosures to exclude revenue from early termination fees, where ARPA was previously calculated as revenue divided by the number of customers in service during the period. TERAGO's method may differ from other issuers, and accordingly, ARPA may not be comparable to similar measures presented by other issuers. Churn - The term "churn" or "churn rate" is a measure, expressed as a percentage, of customer cancellations in a particular month. The Company calculates churn by dividing the number of customer cancellations during a month by the total number of customers at the end of the month before cancellations. The information is presented as the average monthly churn rate during the period. The Company believes that the churn rate is useful supplemental information as it provides an indication of future revenue decline and is a measure of how well the business is able to renew and keep existing customers on their existing service offerings. Churn and churn rate are not recognized measures under IFRS and, accordingly, investors are cautioned in using it. TERAGO's method of calculating churn and churn rate may differ from other issuers and, accordingly, churn may not be comparable to similar measures presented by other issuers. About TERAGO TERAGO provides managed network and security services to businesses across Canada ensuring highly secure, reliable, and redundant connectivity including private 5G wireless networks, Fixed Wireless access, fiber, and cable wireline network connectivity. As Canada's biggest mmWave spectrum holders, the Company possesses spectrum licenses in the 24 GHz and 38 GHz spectrum bands, which it utilizes to provide secure, dedicated SLA guaranteed enterprise grade performance that is technology diverse from buried cables ensuring high availability connectivity services. TERAGO serves Canadian and Global businesses operating in major markets across Canada, including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg, and has been providing wireless services since 1999. For more information about TERAGO and its suite of wireless internet and SD-WAN solutions, please visit Forward-Looking Statements This news release includes certain forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond TERAGO's control. Forward-looking statements may include but are not limited to statements regarding, the increasing importance of the mmWave spectrum, the progress of the ISED mmWave consultation, and the ability of the Company to refinance its current debt facility and having sufficient capital to support its growth strategy, consistently executing across all fronts of the business, success in providing Canadian enterprises with managed services and the 5G fixed wireless trials being conducted by the Company. All such statements constitute "forward-looking information" as defined under, applicable Canadian securities laws. Any statements contained herein that are not statements of historical facts constitute forward-looking information. The forward-looking statements reflect the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those risks set forth in the "Risk Factors" section in the Annual Information Form for the year ended December 31, 2024 and risks set forth in the "Financial Risk Management" section in the annual MD&A of the Company for the year ended December 31, 2024 available on and under the Company's corporate profile. Factors that could cause actual results or events to differ materially include the inability to consistently achieve sales growth across all lines of TERAGO's business including managed services, inability to complete successful 5G technical trials, the results of the 5G trials not being satisfactory to TERAGO or any of its technology partners, regulatory requirements may delay or inhibit the trial, the economic viability of any potential services that may result from the trial, the ability for TERAGO to further finance and support any new market opportunities that may present itself, delays with the ISED mmWave spectrum consultation, the ability for TERAGO to refinance its current debt facility, and industry competitors who may have superior technology or are quicker to take advantage of 5G technology. Accordingly, readers should not place undue reliance on forward-looking statements as several factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed with the forward-looking statements. Except as may be required by applicable Canadian securities laws, TERAGO does not intend, and disclaims any obligation, to update or revise any forward-looking statements whether in words, oral or written as a result of new information, future events or otherwise.
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The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations. To learn more about Info-Tech's divisions, visit McLean & Company for HR research and advisory services, and SoftwareReviews for software buying insights. Media professionals can register for unrestricted access to research across IT, HR, and software, and hundreds of industry analysts through the firm's Media Insiders program. To gain access, contact [email protected].
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