Waukesha-based Telkonet Inc. today reported a first quarter net loss of $744,078, compared with $778,208 in the first quarter of 2014.
The company makes in-room automation solutions aimed at optimizing energy efficiency, comfort and data collection that are part of the emerging Internet of Things.
Telkonet reported an operating loss of $671,837 in the first quarter, compared with a $715,782 operating loss in the same period a year ago.
Revenue totaled $2.6 million, flat from the first quarter of 2014.
The company is expanding its channel relationships and internal sales team, and has seen increased activity in its target markets and a strong pipeline for its EcoSmart intelligent automation platform.
“While typically our slowest quarter each year, we are pleased to report gross profit improvement of 21 percent, and gross margin percentage increased to 48 percent, despite flat year over year revenue,” said Jason Tienor, chief executive officer. “While the year began slower than hoped, we’ve since seen our deal flow increase rapidly as we’ve entered our busiest season, especially for deployments within the education market. This activity should enable our continued year over year topline growth while driving profitability for full year 2015.”