>This looks like a great product at a great price point, with solid sales, how are you not in the black yet?!
In short: the chip shortage.
The biggest expense right now is hardware engineering. We couldn't continue manufacturing our PCB because one of the components sold out, so we had to redesign with different components. That's been expensive (about $60k so far).
And then to avoid redesigning further, I've had to stockpile components for 6-24 months, so a lot of money is tied up in inventory.
The redesign work is wrapping up, though, so I'm hoping to have significantly lower expenses in the second half of the year.
>This looks like a great product at a great price point, with solid sales, how are you not in the black yet?!
In short: the chip shortage.
The biggest expense right now is hardware engineering. We couldn't continue manufacturing our PCB because one of the components sold out, so we had to redesign with different components. That's been expensive (about $60k so far).
And then to avoid redesigning further, I've had to stockpile components for 6-24 months, so a lot of money is tied up in inventory.
The redesign work is wrapping up, though, so I'm hoping to have significantly lower expenses in the second half of the year.