Financial Data and Key Metrics Changes - Total revenue for Q3 2026 was $16.6 million, a decrease of approximately 3% compared to $17 million in the prior year period [11] - Core study revenue reached a record $16.6 million, representing growth of approximately 32% from $12.6 million in the year-ago period [11] - Adjusted EBITDA for the quarter was $575 thousand, marking the third consecutive quarter of positive adjusted EBITDA [13] - GAAP loss from operations for the quarter was approximately $275 thousand [13] - Gross margin for the quarter was 47%, down from 61% in the prior year period [13] Business Line Data and Key Metrics Changes - The core translational oncology services platform demonstrated strong performance, with record services revenue driven by effective study execution and conversion of previously booked work [4] - Data revenue was not recognized in Q3 2026, compared to $4.5 million in the prior year period, contributing to the overall year-over-year revenue decline [12] - Operating expenses increased to $7.2 million from $5.3 million in the prior year, reflecting investments in strategic priorities [14] Market Data and Key Metrics Changes - The company noted that quarterly revenue can fluctuate due to the timing of study progression and completion, with strong conversion of previously booked work benefiting revenue in the current period [5] - The underlying demand for services remains healthy, with a focus on expanding the pipeline of future work through increased commercial engagement [5] Company Strategy and Development Direction - The company is focused on balancing growth and investment while maintaining positive adjusted EBITDA, with expectations for more meaningful acceleration in fiscal 2027 and 2028 [6][10] - The data business is beginning to show early momentum, with new deals closed during the quarter and additional revenue expected in Q4 [4][7] - Corellia, the target discovery subsidiary, is generating attractive data and is in discussions for potential external funding, which could redirect investments towards other growth initiatives [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year revenue growth and positive adjusted EBITDA while continuing to invest in the data business and Corellia [3][6] - The company is optimistic about the long-term potential of its data platform and therapeutic subsidiary, aiming to maximize shareholder value across all growth vectors [9] Other Important Information - The company ended the quarter with $7.1 million in cash and no debt, maintaining a cash balance within projected ranges [16] - The next earnings call is scheduled for July, where further updates on progress will be provided [18] Q&A Session Summary - There were no questions from participants during the Q&A session [17]