Financial Data and Key Metrics Changes - Revenue for Q3 was $3,100,000, a decrease of 20% compared to Q3 2024, and down 23% sequentially from $4,000,000 in Q2 2025 [3][13] - Q3 expenses were $2,500,000, which is 16% lower than the $2,900,000 in Q3 2024 [3][14] - Operating loss was $1,100,000, similar to the loss reported in Q3 2024 [3][14] - Gross margin for the quarter was 47.7%, down from 49% in Q3 2024 and 49.9% in Q2 2025 [14] - Adjusted EBITDA for Q3 was a loss of $540,000 compared to a loss of $510,000 in Q3 2024 [15] - Cash totaled $2,000,000 as of September 30, down from $2,600,000 at June 30 [16] Business Line Data and Key Metrics Changes - Sales to distribution partners were weaker than expected, leading to lower revenue [4] - The company successfully delivered Capture SDK 2.0, which supports new Bluetooth low energy products and is compatible with existing devices [5] Market Data and Key Metrics Changes - The company is seeing interest from various sectors, including warehousing, logistics, manufacturing, mining, energy, and construction [9][10] - Initial rollouts in the industrial scanning market have been successful, with ongoing projects expected to continue into 2026 and beyond [10] Company Strategy and Development Direction - The company is focusing on expanding into the industrial scanning and handheld computing markets [9] - Continued investment in product lines designed for iPhone, which is expected to open new customer segments [11] - The strategy includes managing expenses tightly while pursuing opportunities related to Apple products [6] Management's Comments on Operating Environment and Future Outlook - Management noted that Q3 was a difficult quarter with uncertainty causing delays and cancellations of projects [4] - The expectation for Q4 is to be EBITDA neutral, with a stronger outlook for 2026 [6] Other Important Information - The company is managing inventory levels to avoid excess stock in a slower demand environment [16] Q&A Session Summary Question: Will the company need to do any more convertible debt soon? - Management stated there are currently no plans to do convertible debt and believes they can achieve profitable operating levels if they get through Q4 at EBITDA neutral [20][21] Question: Is there enough cash to move forward without raising more? - Management confirmed that there is enough cash to proceed without the need for additional fundraising [21]