Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $2.2 million, a 6% decrease from Q3 2024, primarily due to one-time prior year Seastar Medical Quellimune sales and a decrease in international revenues [9] - On a proforma basis, revenue grew approximately 7% year-over-year after excluding the Seastar Medical revenue and the decrease in international revenue [9] - Gross margin for the quarter was 65.2%, down from 70% in Q3 2024, primarily due to underabsorption of fixed overhead from lower production volumes earlier in the year [10] - Operating loss for the quarter was $2.7 million compared to an operating loss of $1.5 million in Q3 2024 [11] - Net income attributable to common shareholders was $469,000 or $0.56 per share, compared to $2.4 million or $73.23 per share in the prior year quarter [11] Business Line Data and Key Metrics Changes - Heart failure and critical care customer categories saw revenue increases of 41% and 15% year-over-year, respectively, while pediatrics declined by 7% [10] - There was a 15% year-over-year increase in consumables utilization, which partially offset the revenue decline [9] - All customer categories experienced year-over-year growth in circuit sales, with heart failure and critical care benefiting from stronger console demand [10] Market Data and Key Metrics Changes - The company is focusing on three growth areas: critical care, pediatrics, and hospital-based outpatient heart failure therapy, which are expected to define a new standard for precision fluid management [13] - The introduction of new products, such as the 24-hour Aquadex circuit and dual-lumen extended length catheter, is aimed at expanding access and compatibility across care environments [6] Company Strategy and Development Direction - The company is transitioning manufacturing to KDI Precision Manufacturing and exiting European operations to sharpen focus on the U.S. market [7] - The strategy emphasizes clinical value, scalability, and growth in precision fluid management across the cardiorenal continuum [8] - The company aims to build a sustainable growth model centered on technology, evidence, and access to improve patient outcomes [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the progress made in Q3, highlighting the growing adoption of Aquadex therapy and its impact on fluid management in hospitals [5] - The company anticipates realizing incremental cost efficiency from the manufacturing transition beginning next year, which should support margin expansion [10] Other Important Information - The company ended the quarter with $3.1 million in cash and cash equivalents and remained debt-free [12] - A net equity raise of $1.9 million in Q3, combined with a $4 million raise in June, provides flexibility for continued execution of the U.S. revenue growth strategy [12] - Recognition was given to Rob Scott for his contributions as Chief Financial Officer during his tenure [13] Q&A Session Summary Question: No questions were asked during the Q&A session - There were no questions from participants during the Q&A session [15]