Financial Performance - Revenue for Q3'25 reached $519 million, a 57.1% increase compared to $330.4 million in Q3'24 [7] - Non-GAAP Gross Margin for Q3'25 was 30.4%, a 5.1 percentage point increase from 25.2% in Q3'24 [7] - Non-GAAP Operating Income for Q3'25 was $46.2 million, a $38.1 million increase from $8.1 million in Q3'24 [7] - Adjusted EBITDA for Q3'25 was $59.0 million, a $37.7 million increase from $21.3 million in Q3'24 [7] - Non-GAAP EPS for Q3'25 was $0.15, a $0.16 increase from ($0.01) in Q3'24 [7] Revenue and Margin Growth - The company's revenue has grown from $0.8 billion in 2020 to $1.5 billion in 2024 [9] - Non-GAAP Gross Margin has increased from 23% in 2020 to 29% in 2024 [9] Profitability and Cash Flow - Non-GAAP Operating Income has improved from $(7) million in 2020 to $108 million in 2024 [13] - Cash Flow from Operating Activities has increased from $(372) million in 2023 to $92 million in 2024 [13]

Financial Performance - Total revenue for Q2 2025 was $37.4 million, compared to $22.4 million in Q2 2024[34] - Gross loss for Q2 2025 was $(9.4) million, compared to $(7.1) million in Q2 2024[36] - Operating expenses for Q2 2025 were $(26.4) million, compared to $(34.3) million in Q2 2024[36] - Net loss attributable to common stockholders was $(38.8) million, or $(1.79) per share, compared to $(32.9) million, or $(2.18) per share in Q2 2024[34] - Adjusted EBITDA was $(19.3) million, compared to $(26.5) million in Q2 2024[34] - The company had $240 million in total cash and investments as of April 30, 2025[15, 34, 40] Business Strategy and Operations - The company is prioritizing its proven carbonate platform with the goal of accelerating the timeline to expected profitability[4] - The company plans to target positive Adjusted EBITDA upon reaching approximately 100MW production capacity at Torrington[4] - The company is streamlining business operations, optimizing the core business, and driving commercial excellence[18] - The company is deploying sixteen 1.4 MW modules ratably in the 2nd half of FY2025 and sixteen 1.4 MW modules in FY2026 to GGE[41]