Methode Electronics Inc (MEI) reported its Q1 2025 financial results, revealing a significant decline in revenue primarily attributed to the phase-out of specific EV lighting programs and challenges faced in key markets such as automotive and commercial vehicles. Revenue for the quarter was $258.5 million, reflecting an 11% decrease year-over-year (YoY) and a 7% decrease quarter-over-quarter (QoQ). Although the company registered a pre-tax loss of $9 million, management noted a sequential improvement, demonstrating an ability to control costs despite negative revenue pressures. The transition towards EV product launches remains crucial, as Methode anticipates an increase in EV sales participation to over 20%, which is predicted to bolster revenue in fiscal 2026. Management emphasized their commitment to operational improvement and transformation efforts, which they believe are essential to achieving stable growth moving forward.