(MENAFN- GlobeNewsWire - Nasdaq) MINNEAPOLIS, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Autoscope Technologies Corporation (OTCQX: AATC) today announced results for its quarter and nine months ended September 30, 2026. The Board of Directors has authorized and declared a quarterly cash dividend of $0.15 per share of its common stock. The dividend is payable on November 30, 2026 to the shareholders of record at the close of business on November 19, 2026. Third Quarter 2026 Financial Summary
Royalties were $2.1 million in the third quarter of 2026, an 11.0 percent increase compared to royalties of $1.9 million in the same period in the prior year. Operating expenses were $1.5 million in the third quarter of 2026, a 2.1 percent decrease compared to operating expenses of $1.6 million in the same period in the prior year. Net income was $366,000 in the third quarter of 2026, a 275.1 percent increase compared to net loss of $209,000 in the same period in the prior year.
First Nine Months of 2026 Financial Summary
Royalties were $6.8 million in the first nine months of 2026, unchanged from the same period in the prior year. Operating expenses were $4.8 million in the first nine months of 2026, a 2.4 percent decrease compared to operating expense of $4.9 million in the same period in the prior year. Net income was $1.5 million in the first nine months of 2026, a 65.4 percent increase compared to net income of $0.9 million in the same period in the prior year.
Third-Quarter Results
Revenue from operations for Autoscope Technologies Corporation (“AATC” or the“Company”), which includes the results of Image Sensing Systems, Inc., a wholly owned subsidiary of AATC, was $2.1 million in the third quarter of 2026, a 10.6 percent increase from $1.9 million in the same period of 2025. Revenue from royalties was $2.1 million in the third quarter of 2026, an 11.0 percent increase compared to $1.9 million in the third quarter of 2025 primarily due to higher sales volume. Product sales were $9,000 in the third quarter of 2026 compared to $15,000 in the third quarter of 2025. The decrease in product sales was primarily driven by lower sales of the Company's IntelliSight product which had no comparable sales in the third quarter of 2026.
Operating expenses were $1.5 million in the third quarter of 2026, a 2.1 percent decrease from $1.6 million in the same period of 2025.
During the third quarter of 2025, the Company initiated the closure of its Canada and Spain subsidiaries. The cumulative translation loss of $0.6 million previously recorded in Accumulated Other Comprehensive Loss was reclassified to earnings as a Loss on Closure of Foreign Subsidiaries in the third quarter of 2025 as part of the loss on disposal. There was no comparable reclassification in the same period of 2026.
Net income for the third quarter of 2026 was $366,000, or $0.07 per basic and diluted share, a 275.1 percent increase compared to net loss of $209,000, or $0.04 per basic and diluted share, in the prior year period. The one-time non-cash foreign currency adjustment in the prior year period mentioned above, along with the increase in royalty revenue, accounted for the increase in net income.
Year-to-Date Results
AATC's revenue for the first nine months of 2026 was $7.0 million, a 0.8 percent increase from revenue of $6.9 million in the same period of 2025. Revenue from royalties was unchanged at $6.8 million in the first nine months of 2026 and the first nine months of 2025. Product sales were $122,000 in the first nine months of 2026 compared to $113,000 in the first nine months of 2025. The increase in product sales was primarily driven by increased sales of IntelliSight and the Company's Autoscope Analytics product, partially offset by lower sales of the Company's OptiVu and Wrong Way products, both of which had no comparable sales in the first nine months of 2026.
Operating expenses were $4.8 million in the first nine months of 2026, a 2.4 percent decrease from $4.9 million in the same period of 2025.
During the first nine months of 2025, the Company initiated the closure of its Canada and Spain subsidiaries. The cumulative translation loss of $0.6 million previously recorded in Accumulated Other Comprehensive Loss was reclassified to earnings as a Loss on Closure of Foreign Subsidiaries in the first nine months of 2025 as part of the loss on disposal. There was no comparable reclassification in the same period of 2026.
Net income for the first nine months of 2026 was $1.5 million, or $0.28 per basic and diluted share, a 65.4 percent increase compared to net income of $0.9 million, or $0.17 per basic and diluted share, in the prior year period. The one-time non-cash foreign currency adjustment in the prior year period mentioned above, along with the slight increase in royalty revenue and decreased operating expenses, accounted for the increase in net income.
The cash balance increased to $1.6 million at September 30, 2026 compared to a cash balance of $0.7 million at December 31, 2025. The increase in cash during the first nine months of 2026 is primarily attributable to positive operating activity, partially offset by cash used to pay dividends.
“Our third quarter results reflect the continued stability of our royalty business and disciplined expense management,” said Andy Markese, CEO of Autoscope Technologies and President and CEO of Image Sensing Systems.“We remain focused on working with our strategic channel partner to accelerate OptiVu adoption and continuing to strengthen our core business.”
About Autoscope Technologies Corporation
Autoscope Technologies Corporation is a global company dedicated to helping improve safety and efficiency for cities and highways by developing and delivering above-ground detection technology, applications and solutions. We give Intelligent Transportation Systems (ITS) professionals more precise and accurate information – including real-time reaction capabilities and in-depth analytics – to make more confident and proactive decisions. We are headquartered in Minneapolis, Minnesota. Visit us on the web at
Forward-Looking Statements
Certain statements and information included in this press release for Autoscope Technologies Corporation (the“Company,”“Autoscope,”“we,” or“us”) constitute“forward-looking statements.” Forward-looking statements represent our expectations or beliefs concerning future events and can be identified by the use of forward-looking words such as“believes,”“may,”“will,”“should,”“intends,”“plans,”“estimates,”“expects,”“anticipates” or other comparable terminology. Forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from the results discussed in the forward-looking statements. These risks and uncertainties include, but are not limited to, factors listed below. New risks and uncertainties that may materially affect our operating results may emerge from time to time. It is not possible to predict all of these risks and uncertainties, nor can we assess the effect that each such risk or uncertainty, or a combination of them, may have on our business.
Those risks and uncertainties may include, but are not limited to: our ability to declare, fund and pay dividends in the future and to comply with applicable notice and processing requirements for corporate actions under the OTCQX Rules for U.S. Companies, including Rule 10b-17 under the Securities Exchange Act of 1934, as amended, and Financial Industry Regulatory Authority Rule 6490, as well as the discretion of our Board of Directors to modify, suspend or cancel any dividend program; our historical dependence on a single product for most of our revenue; competition; potential changes in government spending on transportation technology; acceptance of our product offerings and designs; budget constraints by governmental entities that purchase our products, including constraints caused by declining tax revenue; the continuing ability of Econolite Control Products, Inc. to sell our products and pay royalties owed to us; the mix of and margins on the products we sell; our dependence on third parties for manufacturing and marketing our products; our dependence on single-source suppliers to meet manufacturing needs; our failure to secure adequate protection for our intellectual property rights; our inability to develop new applications and product enhancements; risks associated with the incorporation of artificial intelligence and machine learning technologies into our products, including but not limited to, any failures or flaws in such technologies that could result in product liability claims, reputational harm, or regulatory action; the potential disruptive effect on the markets we serve of new and emerging technologies and applications, including vehicle-to-vehicle communications and autonomous vehicles; unanticipated delays, costs and expenses inherent in the development and marketing of new products; our inability to respond to low-cost local competitors; our inability to properly manage any growth in revenue and/or production requirements; the influence over our voting stock by affiliates; our inability to hire and retain key scientific and technical personnel; the effects of legal matters in which we may become involved; our inability to achieve and maintain effective internal controls; our inability to successfully integrate any acquisitions; tariffs and other trade barriers; our operating costs tend to be fixed, while our revenue tends to be seasonal, thereby resulting in operating results that fluctuate from quarter to quarter; any significant variations between actual amounts and the amounts estimated for those matters identified as our critical accounting estimates and other significant accounting estimates made in the preparation of our financial statements; political and economic instability, including continuing geopolitical conflicts, regional hostilities, wars, and other international disruptions; our inability to comply with international regulatory restrictions over hazardous substances and electronic waste; the impact of international supply chain disruptions and delays; the impact of changes in U.S. federal and state income tax regulations; the impact of inflation and our ability to pass on rising prices to our customers; and conditions beyond our control such as war, terrorist attacks, health epidemics (including the COVID-19 pandemic caused by the coronavirus) and economic recession.
You should carefully consider the above trends, risks and uncertainties before making any investment decision with respect to our securities. If any of them continues or occurs, our business, financial condition or operating results could be materially and adversely affected, the trading prices of our securities could decline, and you could lose part or all of your investment. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. We further caution you not to unduly rely on any forward-looking statements because they reflect our views only as of the date the statements were made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
We define non-GAAP income from operations as income from operations before amortization of intangible assets, depreciation, and restructuring charges for the applicable periods. Management believes non-GAAP income from operations is a useful indicator of our financial performance and our ability to generate cash flows from operations. Our definition of non-GAAP income from operations may not be comparable to similarly titled definitions used by other companies. The table below reconciles non-GAAP income from operations, which is a non-GAAP financial measure, to comparable GAAP financial measures:
Note – Our calculation of non-GAAP income from operations is considered a non-GAAP financial measure and is not in accordance with, or preferable to,“as reported”, or GAAP financial data. However, we are providing this information, as we believe it facilitates analysis of the Company's financial performance by investors and financial analysts.
Certain financial amounts presented in this press release have been rounded to the nearest thousand or million, as applicable. Certain percentage changes and ratios are calculated using amounts in the financial statements herein and may not agree precisely with calculations based on the rounded figures presented.
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