Financial Data and Key Metrics Changes - Total revenue for the first nine months of 2025 was approximately $2.8 million, a decrease of about $1 million or 27% compared to $3.8 million in the same period in 2024, reflecting a strategic shift away from legacy contract work [18] - Cost of revenue rose to approximately $2.8 million, a 48% increase from $1.9 million during the first nine months of 2024 [18] - Gross loss for the period was approximately $4 million, compared to a loss of about $719,000 in the same period last year [19] - Selling general and administrative expenses totaled $13 million, compared to $9.9 million in the prior year, reflecting key growth initiatives [20] - Net loss for Q3 2025 was $6 million compared to $3.9 million in the same period of the prior year [24] Business Line Data and Key Metrics Changes - The company is transitioning from legacy high-margin contracts to higher-value commercial space-based and AI-driven solutions, which is expected to generate more sustainable recurring revenue in future periods [18] - The gross loss increase was primarily due to higher depreciation from recently capitalized assets and reduced contributions from legacy services [23] Market Data and Key Metrics Changes - The company is seeing strong momentum internationally, especially among allies seeking sovereign U.S. origin multi-domain capabilities [31] - Greater budget clarity within the U.S. is helping stabilize and improve program timelines, which is viewed as an upside [31] Company Strategy and Development Direction - The company is evolving into a diversified space and defense innovator, focusing on full-spectrum solutions from design and manufacturing to on-orbit operations and data services [5] - The vertically integrated model enables scalability and efficiency, allowing rapid entry into new markets and development of recurring revenue streams [10] - The company is strategically investing in infrastructure, technology, and team to build capabilities comparable to larger competitors with less capital [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and adaptability regardless of external landscape challenges, including government funding uncertainties [7] - The company is positioned to meet rising global demand for resilient, secure, and cost-effective space capabilities [11] - The recent capital raises are intended to fund product commercialization, LISIS-AT scaling, and AI development [32] Other Important Information - The company completed two successful capital raises, receiving approximately $15.5 million of net proceeds [24] - The LISIS-AT platform is increasingly software-defined, enabling rapid in-orbit reconfiguration and performance optimization [11] Q&A Session Summary Question: What is the commercialization timeline for Fortis VPX? - The first three VPX products remain on track for release to production in January of 2026, with customer integrations and revenue contributions expected shortly thereafter [29] Question: Can you update on the commissioning timeline for LISIS-AT 3? - The commissioning is progressing well, with multiple payloads and sensors, and additional satellites in production will expand hosted payload capability and data availability [30] Question: Are customers already evaluating Fortis VPX or FeatherEdge? - Active early access programs are in place with both government and commercial customers, with several transitioning toward multi-year hardware agreements [31] Question: What does your geographic revenue mix look like going forward? - Strong momentum is seen internationally, especially among allies, with greater budget clarity in the U.S. improving program timelines [31] Question: How does the recent capital raise position the company? - The capital raise funds a significant portion of near-term product commercialization, LISIS-AT scaling, and AI development [32] Question: Can you expand on alignment with the DOD's Golden Dome vision? - The company's technology roadmap aligns directly with the DOD's Golden Dome vision, focusing on resilient, distributed, multi-layered sensing and communications architecture [32] Question: What is the potential market for your lunar-capable LISIS-AT Lunar platform? - The company believes its early mover position creates a strategic opportunity in the expanding lunar exploration and infrastructure programs [33]

Financial Data and Key Metrics Changes - The company reported revenues of $303,000 for the quarter, representing a 51% increase compared to the same quarter last year [8] - For the first half of the fiscal year, revenues increased by 85% to over $600,000, marking the best first half ever for the company [5][8] - Gross profit totaled $220,000, or 72.6% of revenues, which was a 23% increase from $180,000, or 89.5% of revenues in the same quarter a year ago [9] - Net loss totaled $3 million, or $0.11 per share, compared to a net loss of $2.2 million in the same quarter last year [10] - Available cash increased to $768,000 from $220,000 at the end of the previous fiscal year [11] Business Line Data and Key Metrics Changes - The U.S. distributor network increased sales by 35% year-over-year, contributing $237,000, or 75% of total revenues for the quarter [4][8] - The new product, Precise PRP, generated increased revenue during the quarter, with 42% of revenue attributed to PRP and 58% to Spring [34] Market Data and Key Metrics Changes - The veterinary healthcare market in Mexico is projected to grow at a CAGR of 11%, reaching approximately $2.4 billion in six years [3] - The European animal market is estimated at over $16.56 billion and is projected to grow at a CAGR of 8.6% [3] - The U.K. market exceeds $2.6 billion and is growing at a 7.8% CAGR [4] Company Strategy and Development Direction - The company aims to expand the use of its flagship product, Spring, and increase awareness of Precise PRP for treating osteoarthritis in animals [13] - The company is exploring the introduction of products to human markets and has formed partnerships to enhance its market presence [7][18] - A strategic collaboration with Digital Landia aims to integrate AI technology into the company's platform, enhancing diagnostic capabilities [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong sales momentum and market penetration for the remainder of fiscal 2026 [27] - The company anticipates another year of record growth and improving bottom line as it expands the use of Spring and Precise PRP [27] - The third and fourth quarters are expected to be particularly strong due to increased industry events driving product awareness [28] Other Important Information - The company qualified to begin trading on the OTCQX best market, enhancing visibility and liquidity for investors [12] - The appointment of Josh Rubin to the board of directors is expected to provide valuable insights into growth-stage companies [6] Q&A Session Summary Question: How many clinics are heavy users of the product? - The learning curve for veterinarians to adopt the product ranges from six months to a year, with anecdotal evidence showing continued growth in adoption [32] Question: Can you break down the revenue between Spring and PRP? - Approximately 42% of revenue was from PRP and 58% from Spring, with the PRP revenue only reflecting the canine version as equine shipments just began [34][35] Question: Do you have any corporate clinics that have adopted your product corporate-wide? - No corporate-wide adoption has occurred yet, as each corporate clinic allows veterinarians to make their own decisions [37] Question: Can you provide a breakdown between companion versus equine revenue? - The company tracks these markets separately and plans to provide more detailed segment reporting in the future [39]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 totaled approximately $384,000, a significant increase from $101,000 in the same period last year, primarily due to growth in research and development services contracts and custom hardware contracts [13] - Gross margin improved to 33% compared to 9% in Q3 2024, although variability is expected due to a small number of active contracts [14] - Net income for Q3 2025 was $2.4 million, or approximately $0.01 per share, compared to a net loss of $5.7 million in Q3 2024 [16] - Total assets increased to $898 million as of September 30, 2025, up from $154 million at year-end 2024 [17] Business Line Data and Key Metrics Changes - The company recorded revenue from the NASA LIDAR initiative and completed a transaction with a major U.S. financial institution, validating its quantum AI and security platforms [7] - Revenue recognition began for cloud-based access to the Direct3 quantum optimization system during Q3 [14] Market Data and Key Metrics Changes - The company is seeing growing adoption of quantum and photonic solutions across research, enterprise, and government sectors, indicating a positive trend in market demand [7] - The integrated photonics platform is positioned to address global energy constraints and computational demands, making it relevant for various sectors [11] Company Strategy and Development Direction - The company aims to transition from prototype and small-batch manufacturing to volume production by the end of the decade, focusing on refining processes and expanding facilities [5][12] - The long-term strategy includes evaluating acquisition opportunities to accelerate the vision of making quantum technology accessible [15] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of scaling engineering and manufacturing capabilities and strengthening relationships across government, industry, and academia [19] - The company is positioned to deliver energy-efficient room-temperature quantum devices, which are critical for the next generation of computing [11] Other Important Information - The company raised $500 million in Q3 and an additional $750 million post-quarter, significantly strengthening its balance sheet [3][15] - Operating expenses increased to $10.5 million in Q3 2025, reflecting growth in personnel across various departments [16] Q&A Session Summary Question: Details on Poet Technologies partnership - Management discussed active talks with multiple parties on using thin-film lithium niobate technology for high-speed transceiver technology, highlighting the collaboration with Poet Technologies [22] Question: Use cases for quantum security solutions - Management mentioned discussions with firms to apply quantum communication technology to aerospace platforms and the potential for smaller quantum communication systems [23][24] Question: M&A opportunities and market conditions - Management acknowledged the volatile M&A market and is actively evaluating acquisition candidates to enhance customer revenue and technology roadmap [26][27] Question: CapEx for Fab 1 and plans for Fab 2 - Fab 1 is fully operational with an additional CapEx of about $2 million planned for high-speed testing equipment, while Fab 2 is being scoped for both internal needs and external demand [35][36] Question: International opportunities - Management confirmed active discussions for international partnerships and sales, including projects in Europe and South Korea [57]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 totaled approximately $384,000, a significant increase from $101,000 in the same period last year, primarily due to growth in research and development services contracts and custom hardware contracts [13] - Gross margin improved to 33% in Q3 2025, compared to 9% in Q3 2024, although variability is expected due to a small number of active contracts [14] - Net income for Q3 2025 was $2.4 million, or approximately $0.01 per share, compared to a net loss of $5.7 million in Q3 2024 [16] - Total assets increased to $898 million as of September 30, 2025, up from $154 million at year-end 2024 [17] Business Line Data and Key Metrics Changes - The company recorded revenue from its NASA LiDAR initiative, showcasing the practical application of its quantum technology [7] - Revenue recognition began for cloud-based access to the Dirac-3 quantum optimization system during Q3 [14] - Significant commercial engagements included a transaction with a major U.S. financial institution, validating the company's quantum AI and security platforms [7] Market Data and Key Metrics Changes - The company is actively engaging with various sectors, including aerospace, defense, telecommunications, finance, and data security, to expand the adoption of its quantum solutions [4] - The integrated photonics approach allows for room temperature operation, making the technology more accessible and scalable across industries [4][11] Company Strategy and Development Direction - The long-term goal is to transition from prototype and small-batch manufacturing to volume production by the end of the decade [5] - The current three-year roadmap focuses on refining processes, scaling production, and expanding the team and facilities to support industrial-scale output [5][12] - The company aims to leverage its thin-film lithium niobate technology for next-generation high-speed transceiver technology, indicating a strategic focus on telecommunications [22] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of scaling engineering and manufacturing capabilities to meet growing demand and drive future growth [19] - The company is positioned to deliver energy-efficient room-temperature quantum devices, which are critical for the next generation of computing [11] - Management expressed confidence in the company's ability to navigate the evolving landscape of quantum technology and maintain a competitive edge [19] Other Important Information - The company raised $500 million in Q3 2025 and an additional $750 million post-quarter, significantly strengthening its balance sheet [3][15] - Operating expenses increased to $10.5 million in Q3 2025, reflecting growth in personnel across various functions to support expansion [16] Q&A Session Summary Question: Details on partnership with POET Technologies - Management confirmed active discussions with multiple parties regarding the use of thin-film lithium niobate technology for high-speed transceiver applications, highlighting the collaboration with POET as a significant opportunity [21][22] Question: Use cases for quantum security solutions - Management discussed ongoing discussions with firms to apply quantum communication technology in various sectors, including aerospace, indicating a broad interest beyond security solutions [23][24] Question: M&A opportunities and market conditions - Management acknowledged the volatility in the M&A market but confirmed active evaluation of acquisition candidates to accelerate commercialization and fill technology gaps [25][26] Question: CapEx for Fab 1 and plans for Fab 2 - Management indicated that Fab 1 is fully operational with plans for additional CapEx of about $2 million for high-speed testing equipment, while Fab 2 is being scoped for both internal needs and external demand [34][36] Question: International opportunities - Management confirmed ongoing efforts to explore international markets, including sales to institutions in Europe and partnerships in South Korea [58]

Financial Data and Key Metrics Changes - In Q3 2025, the company's revenue was $2 million, a 24% decrease from $2.5 million in Q3 2024, primarily due to a timing reduction in iHP services sales from a key customer [9][10] - Year-to-date service demand remains robust, with quote activity and pipeline volume up approximately 35% year-over-year in life sciences and food safety [10] - Gross profit margins remained strong at 61% for Q3 2025, consistent with the same period last year [10] Business Line Data and Key Metrics Changes - Recurring BIT solution sales increased by 21% year-to-date, contributing to the overall revenue growth [5][10] - The sales order backlog was $0.9 million at the quarter end and grew to $1.3 million by October 31, with approximately $3 million in pending SteraMist integration contracts expected to close before year-end [6][10] Market Data and Key Metrics Changes - The FDA's broadened approval of hydrogen peroxide positions the company to serve not only life sciences and healthcare but also agriculture, food processing, and environmental biosafety [7][23] - The active pipeline surpassed $15 million, encompassing both domestic and international customers across various industries [6] Company Strategy and Development Direction - The company aims to enhance customer engagement and expand its recurring revenue streams through personalized outreach and targeted marketing campaigns [8] - Focus on biosecurity advancements and scaling automation integrations for high-efficacy environments is prioritized for 2026 [8][9] - The company is investing in innovation and customer success to capture opportunities in clean tech and biosecurity [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's recovery and reaffirmed the soundness of its strategy, with steady improvement expected financially, operationally, and strategically [25][26] - The company is well-positioned for a successful fourth quarter with momentum carrying into 2026, supported by a recent equity purchase agreement to access capital [26][27] Other Important Information - The company celebrated a significant addition to its customer roster with Bausch + Lomb, which adopted mobile handheld surface units and committed to BIT Solution orders for 2026 [19][20] - The company is actively pursuing the cannabis market and has opened doors to promising new partnership discussions [22] Q&A Session Summary Question: What are your sales and marketing efforts towards the FDA approval for hydrogen peroxide usage? - Management indicated that the food industry could be a key marketing vertical, and they are excited about the approval as it positions their technology favorably [29] Question: Should we expect operating expenses and gross margins to continue improving? - Management expects operating expenses to increase but remain positive in relation to revenue, with gross margins expected to hold steady [30][31] Question: What kind of sales effort is in place for international markets like Morocco? - The company has distributors in various countries and is working with global partners to increase demand for SteraMist [34] Question: Do you have visibility on solution sales in the coming quarters? - Management noted that while there was a decrease in solution sales growth in Q3, they expect a rebound by the end of the fourth quarter [35] Question: Any updates on servicing military and defense markets? - Management mentioned ongoing studies with a key site looking to replace formaldehyde, with expectations for significant developments in 2026 [42] Question: Any progress in the use of SteraMist for replacing ethylene oxide in medical sterilization? - Management confirmed ongoing discussions and prioritization of partnerships in device manufacturing for this purpose [51]

Financial Data and Key Metrics Changes - In Q3 2025, the company's revenue was $2 million, a 24% decrease from $2.5 million in Q3 2024, primarily due to a timing reduction in IHP services sales from a key customer [9][10] - Year-to-date service demand remains robust, with quote activity and pipeline volume up approximately 35% year over year in the life sciences and food safety areas [10] - Gross profit margins remained strong at 61% for Q3 2025, consistent with the same period last year [10] Business Line Data and Key Metrics Changes - Recurring BIP solution sales increased by 21% year to date, contributing to the overall revenue growth [5][10] - The sales order backlog was $0.9 million at the quarter end and grew to $1.3 million by October 31, with approximately $3 million in pending SteraMist integration contracts expected to close before year-end [6][10] Market Data and Key Metrics Changes - The FDA's broadened approval of hydrogen peroxide as a safe disinfectant opens new markets, particularly in food processing and agriculture [7][23] - The company is seeing strong interest from emerging sectors, with an active pipeline surpassing $15 million [6][7] Company Strategy and Development Direction - The company aims to grow sales of mobile capital equipment, IHP corporate service, and custom integration platforms alongside its core BIP solution business model [5][8] - There is a focus on biosecurity advancements and scaling automation integrations for high-efficacy environments, addressing global challenges [8][9] Management's Comments on Operating Environment and Future Outlook - Management believes the third quarter marked a decisive turning point, with a 95% sequential revenue increase driven by expanding recurring revenue streams [4][5] - The company is optimistic about the future, with a strong sales backlog and a sales strategy beginning to deliver promising results [25][26] Other Important Information - The company entered into an equity purchase agreement with Hudson Global Ventures, allowing it to sell up to $20 million in common stock over a 24-month period [26] - The SteraMist IHP technology was named the Disinfection and Decontamination Products Company of the Year 2025 [7] Q&A Session Summary Question: What are the sales and marketing efforts towards the FDA approval for hydrogen peroxide usage? - Management sees the food industry as a key marketing vertical and is excited about the approval, which is expected to be a game changer [29] Question: Should operating expenses and gross margins continue to improve? - Management expects operating expenses to increase but believes they will be positive in relation to revenue, with gross margins remaining stable [30][31] Question: What kind of sales effort is in place for international markets like Morocco? - The company has different distributors in various countries and is working with global partners to increase demand for SteraMist [34] Question: What visibility is there on solution sales in the coming quarters? - Management anticipates that solution sales will increase as more technology is deployed, with a key focus on driving growth in BIP solution sales [35] Question: Any updates on servicing military and defense markets? - The company is working with a key site looking to replace formaldehyde and expects significant developments in 2026 [42] Question: Any progress in the use of SteraMist for replacing ethylene oxide in medical instrument sterilization? - The company is prioritizing partnerships in device manufacturing to streamline IHP into decontamination processes [51]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 totaled approximately $384,000, compared to $101,000 in the same period last year, primarily due to increases in research and development services contracts and custom hardware contracts [12][14] - Gross margin for Q3 increased to 33% compared to 9% in Q3 2024, although variability is expected due to a small number of active contracts [14] - Net income for Q3 was $2.4 million, or approximately $0.01 per share, compared to a net loss of $5.7 million in Q3 2024 [16] - Total assets stood at $898 million at the end of Q3 2025, up from $154 million at year-end 2024 [17] Business Line Data and Key Metrics Changes - The company recorded revenue from the NASA LIDAR initiative and completed a transaction with a major U.S. financial institution, validating its quantum AI and security platforms [6][7] - The foundry operations in Tempe, Arizona, continue to progress, with plans for Fab 2 to support higher volume manufacturing [8][12] Market Data and Key Metrics Changes - The company is seeing growing adoption of quantum and photonic solutions across research, enterprise, and government sectors, with increasing interest from prospective customers [10][11] - International opportunities are being explored, with sales to institutions in Europe and discussions with potential partners in South Korea and Singapore [37] Company Strategy and Development Direction - The long-term goal is to transition from prototype and small-batch manufacturing to volume production by the end of the decade, focusing on refining processes and expanding facilities [5][12] - The company aims to position itself uniquely in the market by leveraging its integrated photonics platform, which operates at room temperature and offers significant SWaP-C advantages [11] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of scaling engineering and manufacturing capabilities, advancing customer programs, and strengthening relationships across various sectors [18] - The company is actively evaluating acquisition opportunities to accelerate its vision of making quantum technology accessible [15][16] Other Important Information - The company raised $500 million in Q3 and an additional $750 million post-quarter, significantly strengthening its balance sheet [3][15] - Operating expenses for Q3 totaled $10.5 million, up from $5.4 million in the same quarter last year, driven by growth in personnel across various functions [16] Q&A Session Summary Question: Details on Poet Technologies partnership - The company is actively discussing using thin-film lithium niobate technology for next-generation high-speed transceiver technology, with Poet Technologies being one of the collaborations [20][21] Question: Use cases for quantum security solutions - Discussions are ongoing with firms to apply quantum communication technology to various sectors, including aerospace and telecommunications [22] Question: Remaining CapEx for Fab 1 - Fab 1 is fully operational, with an additional CapEx of about $2 million planned for high-speed testing equipment [25][26] Question: Plans for Fab 2 - Fab 2 is being scoped to support both the company's quantum machine manufacturing and to serve external demand for thin-film lithium niobate chips [26] Question: Share count at the end of 2026 - The company currently has 224 million shares outstanding and does not expect to conduct another financing, with a potential increase of a few million shares from options [27][28] Question: International opportunities - The company is exploring international markets and has made sales to institutions in Europe and discussions in South Korea [37]

Financial Data and Key Metrics Changes - Q3 2025 revenue was $2.8 million, a 163% increase year-over-year from $1.1 million in Q3 2024 [6][22] - Net loss decreased to $5.9 million, a 62% improvement compared to $15.4 million in the prior year quarter [6][24] - Shareholders' equity increased by 72% to $5.4 million [7] - Gross margin was 81.7%, up 1,302 basis points from 68.7% in Q3 2024 [24] - Annual recurring revenue (ARR) reached $11 million, representing a 168% increase from $4.1 million in Q3 2024 [22][25] Business Line Data and Key Metrics Changes - The company reported a gross profit of $2.3 million for Q3 2025, an increase of 213% from $0.7 million in Q3 2024 [24] - Total operating expenses for Q3 2025 were $6.8 million, up from $3.5 million in Q3 2024, primarily due to the addition of OpenReel and Videlo [24][26] Market Data and Key Metrics Changes - The company serves over 140,000 customers across various sectors, including healthcare, financial services, e-commerce, and technology [16][17] - Significant traction was noted in the banking, financial services, and insurance sectors, with a focus on mid-market and enterprise segments [17][50] Company Strategy and Development Direction - The company is focused on building and acquiring products in four key areas: attracting leads, engagement, tracking, and intelligence [5][14] - A strategic acquisition of Superblocks was announced, aimed at enhancing the AI platform for marketing [12][13] - The company aims to reduce balance sheet leverage and improve cash position through organic growth and M&A [15][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory and the positive impact of recent debt conversions on future financials [7][8] - The focus remains on generating sustainable value for shareholders and improving cash flow for reinvestment in growth [34][43] Other Important Information - The company secured an $11 million debt facility to support acquisitions and operations [8] - The appointment of new leadership, including a Chief Financial Officer and a VP of Sales, is expected to drive strategic growth [12][16] Q&A Session Summary Question: Did the company experience seasonality in Q3 compared to Q2? - Management noted that the market was stronger in Q3, with a shift from one-time license revenue to recurring revenue in the Create Studio business [35][36] Question: What are the pipeline expectations? - Management highlighted substantial improvements in the pipeline, especially in the banking and financial services sectors, with several seven-figure deals in progress [38][50] Question: What does the M&A market look like now? - Management indicated attractive valuations and a healthy M&A market, with ongoing opportunities being evaluated [39][40] Question: Can the company comment on expected cross-sell or upsell uplift? - Management expressed optimism about the Superblocks acquisition providing significant upsell opportunities, particularly for mid-market and enterprise customers [41][42] Question: What operational financial milestones should investors look for? - Key catalysts include continued improvement in net income and ARR, alongside the completion of debt cleanup [43][44]

Financial Data and Key Metrics Changes - Total revenues for Q2 2026 were $12.7 million, down 3% from the prior year quarter, but would have been $13.4 million, up 5%, if a $1.1 million licensing deal for the Toxic Avenger was recognized [5][14] - Operating margins improved by 7% from the prior year quarter to 58% [5] - Net loss for the quarter was $5.5 million, compared to a net loss of $1.2 million in the prior year quarter [15] - Adjusted EBITDA was negative $3.7 million, down from positive $0.5 million in the prior year quarter [15] - Cash and cash equivalents were $2.3 million as of September 30, with $5.9 million available on a $12.5 million working capital facility [15][16] Business Line Data and Key Metrics Changes - The performance of the Toxic Avenger Unrated was below expectations at the box office, but it is expected to be profitable with an IRR of 40% due to strong ancillary distribution [6][9] - The company continues to focus on controlling costs and leveraging efficiencies from Cineverse Services India to manage SG&A spending [6] - The upcoming releases, Silent Night Deadly Night and Return to Silent Hill, are projected to follow a similar low-cost investment strategy [9] Market Data and Key Metrics Changes - Total streaming viewers reached 143.8 million, up 47% year over year, with total minutes streamed at 3.4 billion, up 45% [18] - SVOD subscribers grew to 1.39 million, a 6% increase year over year [18] - The Cineverse branded channel grew more than 6,400% in viewership since its relaunch in January [19] Company Strategy and Development Direction - The company is focusing on a fan-centric, IP-based film strategy, avoiding mixed-genre films in the future [31] - The Match Point technology sales pipeline is expanding, with dozens of potential partners actively evaluating the technology [12][23] - The MicroCo joint venture aims to become a leader in the micro-drama market, which is expected to represent a significant portion of streaming viewing time [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that investments made in sales, marketing, and technology will yield strong results in the remainder of the fiscal year and beyond [15][17] - The advertising environment is mixed, but there is optimism for growth as political spending ramps up in Q4 [20][21] - The company believes it is well-positioned for future growth with multiple engines of growth supported by technology and a growing audience [26] Other Important Information - The content library is now valued at $45 million, significantly above the $3.2 million book value [12][16] - The company is actively seeking strategic partnerships and acquisitions to enhance its technology offerings [24][40] Q&A Session Summary Question: Impact of Toxic Avenger's performance on future slate - Management believes the performance validated their theatrical releasing strategy and will influence future film selections to avoid mixed-genre movies [30][31] Question: Timing of monetization for Match Point - Management indicated that while the sales cycle is longer, there is strong interest from studios, and they expect significant revenue contributions in the next 12-24 months [32][33]

Financial Data and Key Metrics Changes - Forian reported Q3 2025 revenue of $7.76 million, a 66% increase year over year, driven by the Kyber Data Science acquisition and growth in health economics and outcomes research projects [6][10] - The net loss for the quarter was $151,000, compared to a net loss of $205,000 in the prior year, indicating improved operating leverage [8][11] - Adjusted EBITDA for Q3 2025 was $471,000, up from $186,000 in the same quarter last year, reflecting higher revenues and improved operational performance [8][12] - The company ended the period with $28.2 million in cash and marketable securities and $29.2 million in working capital [12] Business Line Data and Key Metrics Changes - The acquisition of Kyber contributed approximately $2 million, or 43%, to the revenue growth, with the remainder coming from organic growth in the life sciences data business [11] - Forian's Data Factory continues to be a critical differentiator, integrating data from various sources to provide a unified view of the healthcare ecosystem [7] Market Data and Key Metrics Changes - Life science companies are increasingly using Forian's data to understand real-world therapy performance and support evidence generation for regulators and payers [6] - Health service organizations and financial clients are leveraging Forian's data to monitor utilization trends and forecast demand [7] Company Strategy and Development Direction - Forian aims to strengthen its position in healthcare analytics and real-world evidence generation, focusing on creating scalable products that deliver differentiated insights [9] - The company plans to continue investing in long-term data relationships and new offerings to enhance its analytical capabilities [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year 2025 revenue near the high end of the previously communicated range of $28 million to $30 million, reflecting a growth of 39%-49% over the previous year [8][14] - The company remains focused on driving sustainable growth and enhancing profitability in the evolving market for real-world data and analytics [9] Other Important Information - The company does not intend to discuss updates related to the previously announced take-private offer during this call [5] Q&A Session Summary - No questions were asked during the Q&A session, and the call concluded without further inquiries [15]