Financial Performance - Q3 2025 revenue reached €355 million, a 2% year-over-year increase[8] - Q3 2025 gross margin was 398%, showing a 200 basis point sequential improvement[8] - Adjusted EBITDA loss for Q3 2025 was €69 million[8] - Q3 2025 cash costs decreased by 34% year-over-year[10] - Q3 2025 adjusted EBITDA loss improved by 8% quarter-over-quarter[20] Revenue Breakdown - Europe accounted for 66% of Q3 2025 revenue, totaling €236 million[11] - North America contributed 31% of Q3 2025 revenue, amounting to €110 million[11] - LATAM represented 2% of Q3 2025 revenue, with €725k[11] - APAC accounted for 1% of Q3 2025 revenue, totaling €158k[11] - DC sales accounted for 16% of Q3 2025 revenue, totaling €58 million[13] - AC sales accounted for 63% of Q3 2025 revenue, totaling €224 million[13] - Software, Services & Others accounted for 21% of Q3 2025 revenue, totaling €73 million[13] Financial Position - Q3 2025 cash and cash equivalents and financial investments totaled €277 million[24] - Q3 2025 loans and borrowings amounted to €179 million[24] - Q3 2025 consolidated inventory decreased by 34% year-over-year[24]