Financial Data and Key Metrics Changes - Revenue for the fiscal quarter ended 06/30/2025 increased by 157% to $1,800,000 compared to $700,000 for the same period last year [5][15] - Gross profit increased to $200,000 from a loss of $300,000 for the same period last year, reflecting the increase in revenues [15] - Net loss attributed to common stockholders was $7,700,000 or a loss of $1.53 per share, compared to a net loss of $12,200,000 or a loss of $5.32 per share for the same period last year [19] Business Line Data and Key Metrics Changes - The company reported a 50% sequential increase in revenue over the quarter ended 03/31/2025 [5] - More than 55% of contracts are multi-year contracts, indicating a stable revenue stream [8] - The first quarter of international revenues was recorded, expanding the company's reach to over 30 countries and covering more than 2 billion lives [8][9] Market Data and Key Metrics Changes - The company has been added to the Premier Network, providing access to nearly 3,000 hospitals [10] - The company anticipates growth in international markets, with expectations of significant revenue contributions in fiscal year 2027 [10][66] Company Strategy and Development Direction - The company is focused on overcoming barriers to entry in the nitric oxide market with the LungFit PH system and plans to introduce LungFit PH2 in calendar year 2026, pending regulatory clearance [6][14] - The company is assessing the best path forward for its Beyond Cancer program and expects to communicate more details once a clinical trial site is secured [12] - The company aims to maintain a strong focus on cost reduction in SG&A, R&D, and supply chain management [16] Management's Comments on Operating Environment and Future Outlook - Management reaffirmed revenue guidance of $12,000,000 to $16,000,000 for fiscal year 2026, indicating confidence in achieving this target [7] - Management noted that while the Premier agreement will not have a major impact this fiscal year, it is expected to significantly contribute in the following fiscal year [26] - The company is optimistic about the growth potential in both domestic and international markets, with ongoing training and support for distribution partners [66] Other Important Information - The company reported a net cash burn of $4,700,000, which is more than 60% lower than the first quarter of the previous fiscal year [20] - As of 06/30/2025, the company had cash, cash equivalents, and marketable securities of $6,500,000, which is expected to support operations into calendar year 2026 [21] Q&A Session Summary Question: How should we think about the various growth drivers coming together this year? - Management indicated that while they are confident in their guidance, they need to see more growth opportunities materialize throughout the fiscal year [25][28] Question: Are there certain countries we should be listening for in terms of international growth? - Management noted that initial sales to distribution partners are for demonstration and training purposes, with hospital wins expected towards the end of the fiscal year [30][32] Question: How long does it take to go from initial contact with a customer to closing a deal? - Management stated that it typically takes anywhere from four to twelve months to close deals, depending on the hospital system [36][38] Question: How should expenses be modeled in relation to revenue growth? - Management explained that expenses will increase in proportion to revenue growth, with some fluctuations expected in the upcoming quarters [41][42] Question: How is the Premier agreement facilitating engagement efforts? - Management confirmed that being part of the Premier network removes significant barriers, allowing for more effective discussions with hospitals [46][48] Question: Can you provide insights on sales so far this quarter? - Management refrained from commenting on quarterly estimates but reiterated confidence in their fiscal year guidance [52][53] Question: What is the current expectation for PMA filings? - Management emphasized that their focus is on the second-generation machine, which is deemed more important than the cardiac indication at this time [56][58]