Financial Performance - Revenue for Q3 2025 reached $3.5 million, a significant increase of over 4,200% year-over-year compared to approximately $81 thousand in Q3 2024[5] - Gross profit for Q3 2025 was $0.9 million, up from $81 thousand in Q3 2024, with a gross margin of approximately 26%, an increase from ~23% in Q2 2025[5] - Total revenue for the nine months ended September 30, 2025, increased to $4.9 million, representing year-over-year growth of more than 2,300% from $0.2 million in the prior-year period[6] - The net loss for the nine months ended September 30, 2025, was $(12.3) million, compared to $(7.4) million in 2024, influenced by non-recurring expenses related to acquisitions[6] - EBITDA for the nine months ended September 30, 2025, was $(7.8) million, compared to $(4.8) million in 2024, reflecting increased operational costs[7] Operational Developments - A major milestone was the full purchase of the Microtec milling system, expected to enhance profitability by enabling the production of high-margin growing media[3] - The company anticipates a streamlined operating structure by early 2026, with new equipment already boosting production and the Microtec mill set to expand output[4] - Management believes the strategic advancements will open significant new revenue opportunities and enhance profitability moving forward[12] Financial Outlook - Interest expense for the nine months ended September 30, 2025, was $3.8 million, an increase of $1.2 million from $2.6 million in the prior year[7] - The company expects continued revenue growth and margin strengthening as it prepares for the arrival of the Microtec mill[10]
SG DevCo(SGD) - 2025 Q3 - Quarterly Results