Financial Performance - Q3 2025 - Total revenue reached $87.6 million, a 15% year-over-year increase[9] - Active subscribers increased by 12% year-over-year, reaching 148900[9, 10] - Total subscribers increased by 6% year-over-year, reaching 185200[9] - Gross profit was $25.9 million with a margin of 29.6%, a 5 percentage point decrease year-over-year[9] - Net income was $76.5 million with a margin of 87.3%, which includes a one-time $96.3 million gain on debt restructuring[9] - Adjusted EBITDA was $4.3 million with a margin of 4.9%, a 7 percentage point decrease year-over-year[9] Recapitalization and Debt - A $20 million cash contribution was made to the balance sheet by investors[4] - Total outstanding debt balance was reduced to $120 million and its maturity extended to 2029[4] - An incremental amount of approximately $12.5 million of primary gross proceeds was received in a concurrent rights offering[4] Q4 2025 and FY2025 Guidance - Q4 2025 total revenue is projected to be between $85 million and $87 million[55] - Q4 2025 adjusted EBITDA margin is expected to be between 11% and 13%[55] - FY2025 total revenue is projected to be between $323.1 million and $325.1 million[55]