Financial Data and Key Metrics Changes - Revenues for Q3 2025 were $15.6 million, a 6% increase from $14.8 million in Q3 2024 [21] - Gross profit was $5 million, with a gross margin of 31.8%, compared to $4.2 million and a gross margin of 28.8% in Q3 2024 [23] - Operating loss for Q3 2025 was $2.4 million, slightly higher than the $2.3 million loss in Q3 2024 [24] - Net loss for the quarter was $2.1 million, compared to a net loss of $1.7 million in Q3 2024, with a loss per share of $0.36 [24] Business Line Data and Key Metrics Changes - The company achieved eight major new design wins year-to-date, with three significant wins in Q3 alone [10][11] - Design wins span across all product lines, including FPGA Solutions, Smart NICs, and Edge Networking Systems [12][17] Market Data and Key Metrics Changes - Geographical revenue breakdown: North America 75%, Europe and Israel 17%, Far East and rest of the world 8% [21] - One customer accounted for approximately 14% of revenues over the last 12 months [21] Company Strategy and Development Direction - The company aims for double-digit revenue growth starting in 2026, with a target of achieving seven to nine new design wins in 2026 [18][19] - Focus on building long-term customer relationships and expanding the design win funnel to support sustainable growth [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for returning to double-digit revenue growth in 2026 and beyond, supported by a strong balance sheet of $114 million in working capital and marketable securities [11][18] - The company is well-positioned for 2026 with unique technologies and a growing customer base [20] Other Important Information - The company has no debt and maintains a strong financial position, with $76 million in cash and cash equivalents [24] - Management highlighted the importance of design wins as a key indicator of progress and future growth potential [10][17] Q&A Session Summary Question: How can Silicom fit into the AI-native narrative? - Management sees opportunities across multiple product lines, particularly in high-speed NICs and FPGA solutions, which can bridge gaps in AI systems [26][27] Question: What is the spending environment in the telecom industry? - Management noted positive discussions with service providers, indicating a need for next-generation products to support their customers, suggesting good opportunities for design wins [29][31]