FiEE swung to a $2.5M profit in H1 2026 as revenue hit $6.9M, up from $0.05M a year ago. Gross margins expanded to 77% on the software-first pivot. The CEO cited AI music and home entertainment as growth drivers.
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FiEE (NASDAQ:FIEE) turned profitable in the first six months of 2026, posting net income of $2.5 million as revenue jumped to $6.9 million from $0.05 million a year earlier. The Osaka-based technology company, formerly Minim, reported the results late Friday.
The swing from a $1.0 million loss in the first half of 2025 marks the first profitable period since FiEE began a strategic transformation in 2024, when it shifted from a WiFi hardware and SaaS provider to a software-first model built on IoT, connectivity, and AI.
Gross margin surged to 77.3% from 1.0% in the year-ago period, reflecting the shift toward higher-margin service revenue. Operating expenses rose 127.8% to $2.3 million, driven by investment in the new business lines. Diluted earnings per share came in at $0.17, reversing a loss of $0.20 per share in the first half of 2025.
FiEE now operates four service segments: cloud-managed WiFi, IoT hardware sales and licensing, SaaS solutions, and professional services for both consumers and businesses. A recent push uses AI and data analytics for content creation and brand management, including managing a pool of social media influencers. The company launched a home entertainment system in June 2026.
"Backed by our music patent portfolio and operations team, we expect to accelerate AI music commercialization to capture streaming revenue and creator royalties," CEO Mr. Li said in the release. "Our home entertainment system, launched in June 2026, is expected to deliver steady revenue contributions through year-end."
FiEE did not provide segment-level revenue breakdowns or guidance for the second half of 2026. The company cautioned that forward-looking statements involve risks related to its ability to execute on the AI music and home entertainment initiatives.
The stock trades on the Nasdaq with limited daily volume. FiEE had roughly 14.8 million shares outstanding as of the end of 2025, based on its most recent annual filing. The company did not hold an earnings call or provide a conference call date in the press release.
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