Financial Data and Key Metrics Changes - For Q3 2025, the company reported revenue of $2.9 million, flat year over year and slightly higher sequentially [4][12] - Gross profit margins improved year over year, coming in at 42.4% for Q3 2025, up from 39.3% in Q3 2024 [13][14] - Adjusted EBITDA loss narrowed to $354,000 in Q3 2025 from $419,000 in Q2 2025 and $500,000 in Q1 2025 [4][15] - Net loss attributable to stockholders was $653,000 for Q3 2025, compared to a net loss of $693,000 for Q3 2024 [15] Business Line Data and Key Metrics Changes - Contract manufacturing revenue totaled $907,000 for Q3 2025, showing a slight increase year over year and sequentially [5] - Consumer product segment revenue remained stable year over year and sequentially, despite some logistical delays affecting product launches [8] Market Data and Key Metrics Changes - The company anticipates a strong fourth quarter, driven by new product launches and holiday season sales [11][21] - The partnership with iRhythm is expected to contribute positively, with initial orders anticipated in Q4 [6][10] Company Strategy and Development Direction - The company is focused on expanding its contract manufacturing and consumer-branded product lines, with a robust pipeline of new customers [7][10] - A significant partnership with STADA has been established, with plans for multiple product launches in early 2026 [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving sequential revenue growth in Q4, projecting full-year revenues between $12 million and $12.5 million [11][19] - The company is optimistic about narrowing its adjusted EBITDA loss further, potentially nearing break-even by year-end [11][30] Other Important Information - The company holds a cash balance of approximately $938,000 and a restricted cash balance of $920,000, related to non-dilutive financing from STADA [15] - The Institutional Review Board study on Hydrogels is complete, with publication expected before year-end [6] Q&A Session Summary Question: Can you elaborate on the logistical delays mentioned? - The delays were primarily due to customs issues, impacting product launches by approximately $100,000-$200,000 in potential sales [17][18] Question: What gives you confidence in the revised revenue guidance? - Confidence stems from ongoing growth in existing customer orders and anticipated strong performance in Q4, despite flat results in previous quarters [19][21] Question: What is the current order book like for contract manufacturing? - The order book is strong, with existing customers continuing to order and new customers expected to be onboarded soon [27] Question: Is the company still expecting to achieve positive EBITDA by year-end? - The company believes it can achieve positive EBITDA, depending on strong performance in consumer products during Q4 [30]