Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $17.1 million, a 67% increase from $10.3 million in Q3 2024, with year-to-date revenue of $43.3 million compared to $33.1 million in the prior year, reflecting a 31% increase [16][17] - Adjusted EBITDA for Q3 2025 was $2.9 million, representing 17% of revenue, compared to $600,000 in the prior year [20][21] - The company achieved a net profit of CAD 0.9 million for Q3 2025, a significant improvement from a net loss of CAD 0.3 million in Q3 2024 [21] Business Line Data and Key Metrics Changes - The material handling sector continues to drive growth, with over $21 million in orders secured during the quarter, totaling over $65 million in the nine months ending June 30, 2025 [6][16] - The company is expanding into new verticals, including robotics and airport ground equipment, with significant shipments expected to start soon [10][34] Market Data and Key Metrics Changes - The robotics sector is experiencing rapid growth, with advancements in AI technologies and e-commerce driving demand for battery systems [9] - The defense sector is identified as a high-value growth opportunity, with ongoing collaborations with global defense contractors [13] Company Strategy and Development Direction - The company is focused on expanding manufacturing capabilities in Jamestown, New York, with production expected to commence by mid-next year [25] - Investments in domestic manufacturing and supply chains are prioritized to meet the needs of sensitive customers, particularly in the defense sector [26] - The company plans to launch specialized energy storage products and recurring revenue stream products in fiscal year 2026 [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong margins and continued revenue growth, with a positive outlook for Q4 and beyond [22][24] - The company is optimistic about the potential contributions from new verticals, although growth rates in these areas remain uncertain [71] Other Important Information - The company has received a cash inflow of $3.2 million from the execution of warrants, enhancing liquidity [23] - The company is actively developing a next-generation ceramic separator for its battery products, aimed at improving performance and reducing costs [27] Q&A Session Summary Question: How will the revenue makeup change in 2026 due to new verticals? - Management indicated that new verticals, particularly robotics and airport ground equipment, will significantly contribute to revenue in fiscal 2026, with shipments expected to start soon [33][34] Question: Is the customer makeup similar in new verticals as in material handling? - Most new customers are OEMs, similar to the material handling space, with some overlap in energy storage solutions [36] Question: What is the status of energy storage products? - A separate launch for energy storage products is planned soon, with deployments expected in calendar year 2026 [42][43] Question: What is the capacity addition status in Mississauga and Jamestown? - A second shift has been added in Mississauga, and operations in Jamestown are growing to meet increased order intake [47] Question: What is the outlook for order momentum in Q4? - Order intake has continued to be strong, particularly from key end customers, providing confidence for future growth [49] Question: What is the company's approach to the robotics market? - The company is engaged with several large OEMs in the robotics sector, focusing on battery systems for warehouse and factory applications [56][104] Question: What is the status of the solid-state battery R&D? - The company is investing in improving lab conditions to enhance solid-state battery performance, targeting applications in aerospace and drones [110]