Financial Data and Key Metrics Changes - Net revenues for Q3 2025 were $4 million, a decrease of $3 million or approximately 42% compared to Q3 2024 [5] - Operating expenses were $3.9 million, reflecting a $1.2 million or 24% improvement year-over-year [5] - Operating loss was $3.5 million, showing a $0.1 million or 2% improvement from Q3 2024 [5] - Net loss for the quarter was $3.0 million, an improvement of $0.1 million or 2% from Q3 2024 [5] - Basic and diluted loss per share was $0.20, improving by $0.10 per share from Q3 2024 [5] - The company had $450,000 in unrestricted cash on hand at the end of Q3 [6] Business Line Data and Key Metrics Changes - The company is focusing on self-funded health benefit programs, which are gaining popularity among employers due to cost savings [3] - Marpai Rx program is highlighted as a differentiating factor in winning new business [9] Market Data and Key Metrics Changes - The total addressable market for the TPA industry is over $150 billion, expected to grow by 123% by 2031 [4] - The growth is driven by rising healthcare costs, increasing employer-sponsored health plans, and technological advancements [4] Company Strategy and Development Direction - The company is consolidating claims processing into a single operating system to unlock significant cost savings [6] - The focus is on leveraging renewed efficiencies to capture market share and deliver long-term value [11] - The company aims to disrupt the $5.5 trillion U.S. healthcare market with a scalable platform [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's future potential, citing a successful capital raise and strategic partnerships [6] - The organization is positioned to pivot from recovery to aggressive, sustainable growth [11] - The CEO emphasized a commitment to improving patient outcomes at lower costs [10] Other Important Information - The company completed a $3.9 million PIPE transaction to strengthen its financial position [6] - The rollout of the Empara Client Experience Tool is expected to enhance client retention and new business [8] Q&A Session Summary - There were no questions from participants during the Q&A session [12][13]