Financial Performance - Revenue for Q3 2025 reached $38 million, a 31% increase year-over-year (YoY)[6] - Operating cash flow was $11 million, a $21 million increase YoY[6] - Adjusted EBITDA was $2 million, a $6 million increase YoY[6] - GAAP gross margin was 35%, a 14 percentage point increase YoY, while non-GAAP gross margin was 47%, a 1 percentage point increase YoY[6] - Cash operating expenses decreased by 47% YoY[11] Operating Metrics - Annual Recurring Revenue (ARR) reached $60 million, a 3% increase quarter-over-quarter (QoQ) and a 17% increase YoY[6] - Storage Assets Under Management (AUM) increased by 6% QoQ, while Solar AUM increased by 4% QoQ[6] - Bookings decreased sequentially due to a strategic de-emphasis on low-margin battery hardware[20] Guidance Update - Total revenue guidance for 2025 is updated to $135 million - $160 million[22] - Software, edge hardware, & services revenue guidance for 2025 is updated to $125 million - $140 million[22] - Non-GAAP gross margin % guidance for 2025 is updated to 40% - 50%[22] - Adjusted EBITDA guidance for 2025 is updated to ($5) million - $5 million[22]