ISNS - Image Sensing stock plunges after weak Q1 royalties

Image Sensing Systems (ISNS) shares are currently down 24% to $8.56 after yesterday's first quarter report. Revenue was down 6% Y/Y to $2.98M and EPS was $0.21 versus the $0.02 loss per share in last year's quarter.Royalties were down 14% Y/Y to $1.8M. Product sales were up 11% to $1.2M.Gross margin fell from 80% last year to 76%."We took measured actions in late 2020 that drove additional efficiencies into the organization to address COVID-19 induced market dynamics and seasonal revenue fluctuations.  As reflected in our first quarter results, these actions drove profits allowing us to continue investing in new products and services.  I am pleased to report that our product sales came in on target with 11 percent year-over-year growth, a direct result of our team’s ability to support, promote, and sell in a challenging virtual environment.  We are seeing rapid adoption of our RTMS Echo radar platform and expect this to

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Image Sensing stock plunges after weak Q1 royalties