Financial Data and Key Metrics Changes - The company reported record quarterly revenues of $690,000, representing a 43% increase year-over-year and a 10% increase sequentially [17] - Gross margins remained strong at 63%, with gross profit increasing to $433,000 from $315,000 [19] - Adjusted EBITDA loss was the best in the company's history at $1.2 million, compared to $1.4 million in the previous year [7][20] Business Line Data and Key Metrics Changes - Evolved revenue increased by 77% and accounted for 85% of total sales in Q3 [17] - E-commerce sales represented 54% of total revenue, up 55% year-over-year [17][18] - Municipal revenue grew 139% year-over-year, driven by deployments in major cities [11][18] Market Data and Key Metrics Changes - Retail sales surged by 254% year-over-year, primarily due to expanded adoption through Ace Hardware and Bradley Caldwell [11][18] - Pest management professionals (PMP) accounted for 19% of sales, up 29% year-over-year and 72% sequentially [18][14] Company Strategy and Development Direction - The company aims to achieve profitability through high-margin revenue growth and efficient expense management [6][8] - Expansion into brick-and-mortar retail is being pursued, with discussions ongoing for test deployments in Lowe's stores [24] - The company is focusing on increasing production capacity and operational efficiency to meet future demand [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the cash position of over $10 million, indicating a potential path to profitability without further equity offerings [8][20] - The adoption of the evolved rodent birth control solution is seen as a game-changer, with a large addressable market and regulatory tailwinds [22] Other Important Information - The company faced legal challenges from Levitech regarding alleged IP infringement, which management described as baseless [34] - Recent field trials in Somerville and Cambridge are progressing well, with expectations for future orders based on positive results [35] Q&A Session Summary Question: Will the company's products be available in Lowe's brick-and-mortar stores? - The company is in discussions for a test deployment in about 100 stores, with expectations for late Q2 [24] Question: What growth is expected from PMP-driven sales? - PMP is a key growth channel, with significant growth anticipated as awareness of birth control in pest management increases [25] Question: How much of the revenue was from e-commerce? - E-commerce accounted for 54% of quarterly revenue, consistent with previous quarters [26] Question: Is there a plan to adjust pricing for Evolve? - The company is comfortable with the current pricing strategy but may consider discounts for large orders in the future [27] Question: What is the progress in international markets? - The company received approval for distribution in New Zealand and is working on obtaining approvals in other countries [29][30] Question: Can you provide details on the legal expenses? - The company is facing a lawsuit from Levitech, which management believes is an attempt to hinder their business [34] Question: What revenue is expected from recent field trials? - It is too early to project revenues, but positive results from trials are expected to lead to future orders [35]