Wi2Wi loses $351,000 (U.S.) in Q3, adds Amarin as CEO

Executive Summary

• Wi2Wi Corp. reported its third quarter 2025 financial results, showing a 3% increase in revenue to $1.75 million but a significant decline in profitability, with a net loss of $351,000 compared to a net loss of $78,000 in the prior year period.
• The company announced a leadership transition where CEO Ted Clark is stepping down to spend time with family, and Sue Amarin has been appointed as the new CEO effective immediately.
• A major shareholder provided additional financial support to strengthen working capital and inventory levels, while the company expanded its sales team to drive growth in avionics, industrial, and defense markets.

Key Details

• Revenue: $1.75 million for Q3 2025, a 3% increase from $1.71 million in Q3 2024.
• Gross Profit: $219,000, down from $468,000 in Q3 2024 (27% margin).
• EBITDA: Loss of $141,306, compared to a profit of $172,564 in Q3 2024.
• Net Loss: $351,000, compared to a net loss of $78,000 in Q3 2024.
• Cash Position: Cash on hand as of Sept. 30, 2025, was $292,000.
• Operating Cash Flow: Net cash used in operations was $361,000.
• Working Capital: $2.75 million.
• Financing: A major shareholder provided additional financial support to strengthen working capital and bolster inventory levels.
• Leadership Change: Ted Clark stepped down as CEO; Sue Amarin appointed as new CEO effective immediately.
• New CEO Background: Sue Amarin has over 20 years of senior leadership experience in semiconductors and engineered electronic systems, with previous roles at Intel, Micron Technology, and Blaize.
• Strategic Focus: Under new leadership, the company will focus on strengthening sales execution, elevating customer engagement, tightening operational alignment, and accelerating design-in activity with high-reliability OEM accounts.
• Sales Expansion: Wi2Wi has expanded its sales team to enhance outreach and build new partnerships.

Notable Quotes

• Ted Clark, former CEO: "Our third quarter results reflect the continued impact of the earlier quality issue, and while this has weighed on our performance, we are seeing signs of stabilization across the business. Customer confidence is returning, operational consistency is improving and we are cautiously optimistic as we move into 2026."
• Gary DuBroc, Chair of the Board: "He helped sharpen the company's strategic focus and put in place the operational groundwork needed to support future performance. We are also very pleased to welcome Sue as our new CEO. Her deep technical background, commercial discipline and strong customer-centric philosophy are exactly what Wi2Wi needs going forward."
• Sue Amarin, new CEO: "The company has a strong foundation in precision timing solutions and a respected reputation among demanding aerospace, defence and industrial customers. My priority is to ensure we listen closely to the customers, execute with discipline, and align our teams around delivering the performance, reliability and responsiveness that these markets require."