Financial Data and Key Metrics Changes - For the third quarter ended December 31, 2024, revenue increased by 21.7% year over year to $3.6 million, reflecting the effectiveness of the company's technology and strategic initiatives [7] - Gross profit for the quarter totaled $2.8 million, up 27.5% from $2.1 million in the prior year period, with gross profit percentage improving to 76.4% from 72.9% [10] - Net loss attributable to common stockholders decreased 56.7% year over year to $1.32 million, or $0.054 per share, from a net loss of $3.05 million, or $0.339 per share, in the same quarter of the previous fiscal year [13] - Adjusted EBITDA improved to negative $110,000 for the quarter, a reduction of about $1 million in negative adjusted EBITDA from the comparative period of the prior fiscal year, marking a 90% improvement [14] Business Line Data and Key Metrics Changes - Recurring revenue from the Technology as a Service subscription model and usage-based subscriptions remains robust, driven by the popularity of FDA-cleared cardiac monitor devices, particularly the BioCore suite [6] - Flat fee revenue grew by about 22% year over year, with technology fees rising by 21.8% year over year to approximately $3.4 million, of which 67% was flat fee revenue [9] Market Data and Key Metrics Changes - The company is expanding its market reach beyond cardiology through strategic alliances with top group purchasing organizations and specialist organizations in neurology and pulmonology [3][4] - The focus on chronic care disease prevention and management is expected to reinforce the company's market position as demand for its suite of products grows [19] Company Strategy and Development Direction - The company is committed to advancing the commercialization of its BioCore and BioCare products, with a focus on innovation and operational efficiency to drive sustained growth and profitability [17][20] - Plans for 2025 include expanding into new vertical segments and leveraging partnerships to enhance market penetration [18][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to maintain cash flow improvements while investing in commercial growth, particularly in larger deals [22][23] - The management team is optimistic about achieving profitability, citing record margins and a strong competitive position in the cardiac monitoring landscape [35][36] Other Important Information - The company has successfully transitioned approximately three-quarters of its business to a flat fee subscription model, establishing a higher quality and more predictable revenue stream [9] - The company is strategically transforming its sales force to focus on longer sales cycles and larger accounts, including independent hospitals and GPO networks [12] Q&A Session Summary Question: Sustainability of cash flow improvement - Management believes the cash flow improvement is sustainable and plans to reinvest in commercial growth while maintaining a prudent approach to investments [22][23] Question: Details on expansion into new verticals in 2025 - The company is expanding into complementary areas such as remote monitoring and implantable management, responding to customer requests for broader applications of its technology [24][25][27] Question: Goals for international expansion in 2026 - The company is focused on opportunistic international expansion, primarily in Canada, Germany, and Denmark, leveraging existing partnerships rather than establishing new offices [29][30][31]