Reports

Cisco exceeded guidance for Q1 FY2026, with strong revenue growth, expanding margins, and a notable rise in AI-related infrastructure orders.

• Revenue reached $14.9 billion, up 8% YoY, led by strong networking demand.
• GAAP Net Income was $2.9 billion, while Non-GAAP Net Income hit $4.0 billion.

TransDigm delivered a robust Q4 with strong organic sales growth and improved EBITDA margins. Commercial aftermarket and defense segments saw double-digit growth, supporting higher OEM build rates and driving significant earnings gains.

• Revenue rose to $2.44B, driven by 10.8% organic growth.
• Net income increased to $609M, up from $468M a year ago.

Manulife posted $2.0 billion in core earnings and $1.8 billion in net income for Q3 2025. Insurance sales saw solid growth across all segments, though Global WAM experienced significant net outflows.

• Core earnings rose to $2.0 billion, with core EPS of $1.16
• Net income was steady at $1.8 billion, flat year-over-year

Flutter Entertainment delivered 17% revenue growth and strong iGaming performance in Q3 2025, but reported a net loss of $789 million due to a $556 million non-cash impairment in India and a $205 million Boyd payment.

• Q3 revenue reached $3.794 billion, up from $3.248 billion last year.
• Reported net loss of $789 million due to India impairment and Boyd payment.

Circle posted a strong quarter with $740M in revenue and $214M in net income, driven by rising USDC adoption and platform expansion. Adjusted EBITDA reached $166M, supported by increasing reserve income and expanding strategic partnerships.

• USDC in circulation hit $73.7B, up 108% YoY.
• Net income rose to $214M, bolstered by tax benefits and lower debt value.

GlobalFoundries delivered solid Q3 results with net income of $249M, stable revenue of $1.688B, and gross margin improvement. Continued strength in Automotive and Data Center markets supported performance.

• Revenue held steady at $1.688B, matching Q2 but slightly down from last year.
• Net income rose to $249M, up from $178M in Q3 2024.

On delivered a record quarter, with net sales rising to CHF 794.4 million and net income nearly quadrupling. The company saw exceptional growth across all segments, particularly in apparel and Asia-Pacific, while gross and EBITDA margins reached new highs.

• Revenue reached CHF 794.4 million, up from CHF 635.8 million last year.
• Net income surged to CHF 118.9 million, nearly 4x year-over-year.

Ascendis Pharma delivered strong top-line growth in Q3 2025 with total revenue of €213.6 million, largely driven by commercial success of YORVIPATH and SKYTROFA. However, despite an operating profit of €11 million, the company posted a net loss due to substantial finance expenses.

• Achieved total revenue of €213.6 million, a significant increase from €57.8 million in Q3 2024.
• YORVIPATH generated €143.1 million in revenue and SKYTROFA €50.7 million.

Pan American Silver delivered record quarterly attributable revenue and free cash flow in Q3 2025. Net income rose to $169.2 million, supported by strong silver and gold sales and a positive contribution from the newly acquired Juanicipio mine.

• Record attributable revenue of $884.4 million in Q3 2025
• Net income rose to $169.2 million, or $0.45 per share

Tetra Tech delivered a strong Q4 2025 with record net revenue of $1.16 billion, adjusted EPS of $0.44, and a 23% increase in adjusted operating income, driven by high-end consulting demand.

• Achieved record net revenue of $1.16 billion in Q4 2025
• Adjusted EPS reached $0.44, a 29% increase YoY

ICL reported modest revenue and profit growth in Q3 2025. The company reaffirmed its strategic pivot to specialty crop and food solutions and exited certain battery materials projects. Operating income and adjusted EBITDA showed resilience amid mixed segment performance.

• Revenue reached $1.85 billion, up from $1.75 billion in Q3 2024.
• Net income rose slightly to $115 million, with adjusted EPS at $0.10.

Legend Biotech delivered robust revenue growth driven by CARVYKTI® sales, significantly reducing its net loss compared to the prior year, and is on track toward profitability.

• Total revenue reached $272.3 million, primarily from collaboration revenue.
• Net loss narrowed to $39.7 million from $125.3 million in Q3 2024.

Loar Holdings Inc delivered a record-setting Q3 2025 with significant increases in revenue, net income, and profitability margins, supported by strong demand across commercial and defense markets.

• Revenue rose to $126.8 million, reflecting 22.4% year-over-year growth.
• Net income surged to $27.6 million, significantly boosted by a favorable tax benefit.

The company delivered a strong Q3 2025 performance, driven by substantial growth in total payment volume and revenue, while maintaining solid profitability and cash generation.

• TPV reached a record $10.39 billion, up 59% YoY
• Revenue hit $282.5 million, a 52% increase YoY

COPEL delivered solid financial results in Q3 2025, marked by strong operating income, increased net income, and stable EPS performance.

• Net income reached BRL 1,157,000,000, driven by operational efficiency gains.
• EPS was reported at BRL 4.23 with no adjustments provided.

Cellebrite delivered strong Q3 performance, driven by growth in subscription revenue and expansion in its U.S. federal business. Net income reached $20.2 million and revenue totaled $126 million, reflecting robust demand across key segments.

• Revenue rose to $126 million, led by 21% growth in subscription revenue.
• Net income reached $20.2 million, with adjusted EPS of $0.14.

SharpLink Gaming achieved $104M in net income for Q3 2025, reversing prior losses. This turnaround was powered by its ETH Treasury Management strategy, which delivered significant unrealized and realized gains alongside staking revenue. Affiliate marketing revenue declined year-over-year, but cost controls helped maintain positive operating income.

• Net income of $104.3M in Q3 2025, compared to a net loss of $885K in Q3 2024
• ETH Treasury Management generated $113.6M in total operating income, including $10.3M from staking rewards

PagSeguro delivered a solid quarter, increasing its EPS and net income while generating strong operating cash flow. Total revenue rose modestly and operating performance remained robust despite a slight decrease in transaction-related revenue.

• Net income rose to R$554,486,000 in Q3 2025.
• EPS increased to R$1.8998 with diluted EPS at R$1.8802.

Enlight Renewable Energy delivered a robust Q3 2025 with $165M in revenue and a net income of $32M. Growth was fueled by increased energy sales and tax benefit recognition, with Adjusted EBITDA reaching $112M.

• Revenue for Q3 2025 rose to $165M, driven by new operational projects including Atrisco (US), Israeli projects, and Pupin (Serbia).
• Net Income increased to $32M, supported by project additions and refinancing of Gecama wind project.

Fidelis delivered its best combined ratio as a public company at 79.0%, with net income of $130.5M and strong growth in premiums. Operating ROAE reached 21.4%, supported by robust underwriting and reduced catastrophe losses.

• Net income reached $130.5 million, with EPS of $1.24 and operating EPS of $1.21.
• Combined ratio improved significantly to 79.0% from 87.4% a year earlier.

Seabridge Gold incurred a larger net loss in Q3 2025 as it ramped up investments in its KSM, Iskut, and 3 Aces projects. The company remains focused on advancing feasibility studies and progressing strategic partnerships for KSM.

• Net loss widened to $32.3 million in Q3 2025 due to higher exploration and development expenses.
• KSM project preparations advanced with major infrastructure and feasibility data collection activities.

Arcos Dorados delivered strong Q3 2025 results with a notable surge in net income, primarily supported by a $125M tax credit in Brazil. Revenue climbed to $1.2B and adjusted EBITDA rose significantly year-over-year. Digital channels and loyalty programs continued contributing significantly to performance.

• Net income surged to $150.4M, helped by a $125.2M tax credit in Brazil.
• Total revenue reached $1.2B, up from $1.13B in Q3 2024.

Flex LNG posted steady revenues and profitability in Q3 2025, completed key vessel drydockings, and closed major financing deals, ending the quarter with a record cash balance.

• Net income for the quarter was $16.8 million with EPS of $0.31.
• Adjusted net income was $23.5 million and adjusted EPS came in at $0.43.

LandBridge Company LLC delivered its sixth consecutive public quarter of revenue and Adjusted EBITDA growth in Q3 2025. The company reported revenues of $50.8 million, a 78% increase year-over-year, and Adjusted EBITDA of $44.9 million, up 79% year-over-year. Net income for the quarter was $20.3 million, with a net income margin of 40%.

• Revenues increased by 78% year-over-year and 7% quarter-over-quarter, reaching $50.8 million.
• Adjusted EBITDA grew by 79% year-over-year and 6% quarter-over-quarter, totaling $44.9 million.

Digi International posted record Q4 revenue of $114 million and strong growth in ARR, reaching $152 million. Adjusted EPS rose to $0.56 while net income declined to $10 million. The IoT Solutions segment led growth, driven by the Jolt acquisition and strong SmartSense performance.

• Record Q4 revenue of $114 million, up 9% year-over-year
• Adjusted EPS rose to $0.56, while net income dropped to $10 million

US Antimony's Q3 2025 results showed a strong revenue increase, driven by higher antimony prices, though elevated costs, especially non-cash expenses, led to a net loss.

• Revenue for Q3 2025 rose to $8.7 million, a significant increase from $2.6 million in Q3 2024.
• The company posted a net loss of $4.78 million for the quarter, largely due to $4.69 million in non-cash share-based compensation.

Taseko Mines delivered higher copper production from its Gibraltar mine, resulting in increased revenues. However, despite operational improvements, the company posted a net loss due to non-operational expenses. Progress continued at the Florence Copper project with commissioning underway.

• Generated $174 million in revenue from copper and molybdenum sales.
• Reported net loss of $28 million despite adjusted net income of $6 million.

CorMedix posted a profitable Q3 2025 with strong revenue growth fueled by demand for DefenCath and partial revenue from its newly acquired Melinta portfolio. The company also raised full-year guidance due to better-than-expected integration and operational synergies.

• Net income reached $108.6 million, driven by strong product sales and a one-time tax benefit.
• DefenCath contributed $88.8 million to quarterly revenue due to higher-than-expected outpatient dialysis usage.

KinderCare posted Q3 2025 revenue of $676.8 million and net income of $4.6 million. Despite rising costs and reduced government assistance impacting profitability, the company maintained top-line growth, led by its before- and after-school segment. Adjusted EPS improved to $0.13, suggesting resilience amid economic headwinds.

• Revenue reached $676.8 million, up from $671.5 million in Q3 2024.
• Net income dropped to $4.6 million due to increased personnel costs and lower government reimbursements.

Okeanis Eco Tankers Corp. delivered a strong third quarter in 2025, with revenues climbing to $90.6 million and profit reaching $24.1 million, demonstrating significant growth over the previous year's third quarter. The company also reported an adjusted EBITDA of $45.2 million and a fleetwide daily TCE rate of $46,600.

• Revenues for Q3 2025 increased to $90.6 million, up from $84.9 million in Q3 2024.
• Profit for Q3 2025 rose to $24.1 million, compared to $14.5 million in Q3 2024.

AtaiBeckley continued advancing its clinical pipeline with promising updates for BPL-003 and EMP-01. Despite increasing R&D and G&A expenses contributing to a higher net loss, the company bolstered its balance sheet through a $150 million public offering, extending its cash runway into 2029.

• Net loss increased to $61.1 million in Q3 2025, including a $32.6 million non-cash expense
• Revenue for the quarter was $749,000, up from $40,000 in Q3 2024

Riskified saw a boost in gross profit and adjusted EBITDA during Q3 2025, aided by expansion in its Money Transfer and Payments segment, while continuing to operate at a net loss.

• Gross profit growth accelerated in Q3, driven by performance across multiple verticals.
• Adjusted EBITDA margin rose to 7% compared to 1% in the same quarter last year.

Crescent Capital BDC posted net income of $7.1 million and net investment income of $16.9 million for Q3 2025, reflecting a decline in investment income year-over-year. The company continued its focus on first lien investments and maintained strong floating rate exposure.

• Net income for Q3 2025 was $7.1 million, a decline from $15.3 million in Q3 2024.
• Net investment income per share was $0.46, down from $0.64 in the same quarter last year.

Savara posted a larger net loss in Q3 2025 compared to the previous year due to increased R&D and G&A expenses, as the company progresses its MOLBREEVI development and prepares for commercialization.

• Net loss widened to $29.6 million from $24.2 million in Q3 2024
• EPS came in at -$0.14 per share

Autolus generated $21.1M in revenue in Q3 2025 from its commercial launch of AUCATZYL®, while expanding treatment access and progressing pipeline development. Despite a net loss, the company remains focused on expanding market share and advancing pivotal trials.

• Generated $21.1M in net product revenue from AUCATZYL® in Q3 2025.
• Reported a net loss of $79.1M and operating loss of $71.6M for the quarter.

Lifeway Foods reported its highest-ever quarterly net sales of $57.1 million in Q3 2025, with a 19% increase in net income and continued momentum from its kefir and cheese product lines.

• Achieved record net sales of $57.1 million in Q3 2025
• Net income rose to $3.5 million, a 19% increase year-over-year

Absci posted lower revenue in Q3 2025 while ramping up R&D spending, resulting in a larger net loss. The company reaffirmed its focus on ABS-201 programs and highlighted progress toward clinical trials.

• Revenue declined significantly to $378,000 from $1.7 million in Q3 2024
• Net loss widened slightly to $28.7 million due to higher R&D spend

Anterix Inc. announced a net income of $53.5 million for the second quarter of fiscal year 2026, driven by substantial gains from the exchange and sale of intangible assets. The company also launched new solutions, TowerX and CatalyX, and maintained a strong cash position with no debt.

• Net income reached $53.5 million, a significant increase compared to a net loss in the prior year, primarily due to gains on intangible asset transactions.
• The company received $29 million in contracted proceeds from customers, with $114 million outstanding and $19 million accelerated into fiscal 2026.

Perion delivered solid top-line growth in Q3 2025, driven by strong performances in CTV, DOOH, and Retail Media. Despite a GAAP net loss, non-GAAP earnings improved and EBITDA margin expanded due to disciplined execution and cost management.

• Revenue grew 8% YoY to $110.5M, led by 75% CTV growth and strong Retail Media momentum.
• GAAP net loss was $4.1M, while non-GAAP net income rose to $12.5M.

Abeona Therapeutics narrowed its net loss in Q3 2025 to $5.2 million amid preparation for the ZEVASKYN commercial rollout. Strong early patient demand, broader payer coverage, and increased SG&A spending marked the quarter. The company ended the quarter with $207.5 million in cash and equivalents, supporting operations for over two years.

• Net loss significantly reduced to $5.2 million from $30.3 million a year ago
• SG&A expenses surged to $19.3 million, reflecting ZEVASKYN launch efforts

Innoviz Technologies posted significant revenue growth in Q3 2025, driven by increased LiDAR shipments and NRE services. While the company narrowed its losses compared to the previous year and reduced operating expenses, it still reported a net loss as it continues scaling operations and development.

• Revenue for Q3 2025 was $15.3 million, a significant increase from $4.5 million in Q3 2024.
• Operating expenses decreased by 30% to $18.1 million in Q3 2025 from $26.0 million in Q3 2024.

Kopin Corporation delivered improved financial results in Q3 2025, achieving profitability on the back of reduced expenses and strong defense segment revenue. The company also strengthened its balance sheet with $26 million in cash at quarter end.

• Achieved $4.1 million in net income, reversing a $3.5 million loss from the prior year
• Total revenue was $12 million, primarily driven by $9.9 million in defense sales

Atea Pharmaceuticals posted a net loss in Q3 2025, driven by increased R&D expenses tied to its HCV clinical development. Despite the financial loss, progress continued on its global Phase 3 program, and the company expanded its pipeline with a new hepatitis E virus (HEV) program.

• Net loss of $42.05 million in Q3 2025, reflecting increased R&D spending.
• EPS was -$0.53 with a weighted-average share count of 79.05 million.

Paysign delivered strong Q3 2025 results with record revenue of $21.6M, driven by 141.9% growth in its pharma patient affordability business and 12.4% growth in plasma. Net income rose 54.2% to $2.2M, reflecting operational efficiencies and growing program count.

• Revenue grew 41.6% YoY to $21.6M, driven by pharma and plasma segments.
• Net income rose 54.2% YoY to $2.22M with EPS of $0.04.

Humacyte reported $753,000 in total revenue in Q3 2025, primarily driven by accelerating sales of Symvess. The company reduced its net loss to $17.5 million compared to $39.2 million a year earlier. Key pipeline programs advanced toward clinical milestones, and additional funding was secured after the quarter's end.

• Revenue reached $753,000 in Q3, primarily from Symvess sales
• Net loss reduced to $17.5 million from $39.2 million in Q3 2024

Sanara MedTech posted strong Q3 2025 results, highlighted by significant revenue growth and improved profitability driven by soft tissue repair product sales.

• Net revenue rose to $26.3 million, driven by growth in soft tissue repair product sales.
• Net income from continuing operations reached $0.8 million, a reversal from the prior year's loss.

European Wax Center delivered higher net and adjusted income for Q3 2025 even as revenue dipped slightly, highlighting effective cost management and a resilient core business model.

• Total revenue decreased 2.2% to $54.2 million
• Net income rose 164.4% to $5.4 million with a margin of 9.9%

eGain delivered solid Q1 results with revenue reaching $23.5M and a notable improvement in net income and EBITDA margin, supported by growth in its AI Knowledge Hub business.

• Total revenue was $23.5 million, an 8% increase year-over-year
• Net income rose to $2.8 million, up from $652K in Q1 FY2025

Bioceres Crop Solutions posted a net loss of $7.5 million in Q1 2026. Revenue fell to $77.5 million, reflecting strategic efforts to shift away from low-margin sales. Despite this, gross margin rose to 47% due to a better product mix and cost controls. Adjusted EBITDA increased 61% year-over-year.

• Revenue declined 17% YoY to $77.5 million, driven by pruning of low-margin and capital-intensive sales.
• Gross margin expanded significantly from 40% to 47%, supported by improved product mix.

SoundThinking, Inc. experienced a challenging third quarter in 2025, with revenues declining by 4% to $25.1 million, primarily due to contract delays. The company reported a GAAP net loss of $2.0 million and a decrease in Adjusted EBITDA to $3.5 million. Despite these setbacks, the company expanded its ShotSpotter footprint and saw its Net Promoter Score improve, indicating strong customer satisfaction.

• Revenues for Q3 2025 decreased by 4% to $25.1 million compared to $26.3 million in Q3 2024, mainly due to contract delays.
• The company reported a GAAP net loss of $2.0 million, an increase from a net loss of $1.4 million in the same quarter last year.

Journey Medical achieved strong year-over-year revenue growth in Q3 2025, largely fueled by the launch and commercial momentum of Emrosi. Despite higher revenues and improving margins, the company reported a net loss of $2.3M.

• Revenue rose to $17.6 million, up 21% YoY due to Emrosi sales
• Emrosi generated $4.9 million in net revenue during Q3

Milestone Pharmaceuticals saw its Q3 2025 net loss increase to $11.9 million amid rising commercial expenses as the company gears up for the potential launch of CARDAMYST. No revenue was generated during the quarter.

• No revenue was reported in Q3 2025.
• Net loss increased to $11.9 million compared to $9.4 million in Q3 2024.

The company reported strong Q3 2025 results, surpassing revenue guidance at $29.2M and narrowing its net loss compared to prior periods. Airline operations posted a second consecutive quarter of profitability on an adjusted EBITDA basis.

• Revenue reached $29.2 million, exceeding guidance of $27–$28.5 million.
• Net loss for the quarter was $27.2 million.

Immuneering ended Q3 2025 with strong financial backing from recent funding and reported continued investment in R&D for its lead oncology programs, despite posting a net loss.

• Raised $225 million in financing, extending cash runway into 2029
• Reported 86% 9-month overall survival in pancreatic cancer patients treated with atebimetinib + mGnP

M-tron delivered $14.2 million in revenue for Q3 2025, achieving sequential gross margin improvement. Net income dipped year-over-year, driven by higher expenses and a tax adjustment.

• Revenue reached $14.2 million, up 7.2% year-over-year
• Gross margin improved sequentially to 44.3%

Cassava Sciences posted a Q3 2025 net loss of $10.8 million as it transitions focus toward epilepsy research. Reduced R&D and legal expenses contributed to significantly lower operating costs year-over-year.

• Q3 2025 net loss narrowed to $10.8 million from $27.9 million in Q3 2024
• EPS improved to -$0.22 from -$0.58 in the prior-year quarter

AFC Gamma reported a GAAP net loss but delivered positive Distributable Earnings in Q3 2025, while shareholders approved a strategic shift from REIT to BDC.

• GAAP net loss totaled $12.5 million for Q3 2025.
• Distributable Earnings reached $3.5 million, or $0.16 per share.

Acumen Pharmaceuticals reported a reduced net loss for Q3 2025, with lower R&D and G&A expenses, and maintained a strong cash position to support its ongoing clinical programs.

• Net loss was $26.5 million, down from $29.8 million in Q3 2024.
• R&D expenses decreased due to reduced CRO costs post-enrollment completion.

BioXcel Therapeutics posted a net loss of $30.9 million in Q3 2025, reflecting higher R&D costs tied to late-stage clinical trials and reduced revenue from IGALMI®. Operating losses narrowed slightly year-over-year as SG&A costs declined due to prior restructuring.

• Revenue from IGALMI® declined to $98,000 in Q3 2025 from $214,000 in Q3 2024.
• Net loss expanded to $30.9 million due to increased R&D spending and derivative losses.

Wrap Technologies delivered its strongest quarterly revenue performance in two years, with solid growth in recurring subscription sales and improved gross margin, while reducing operating expenses and narrowing its operating loss.

• Gross revenue rose 241% YoY to $2 million, led by BolaWrap® product sales and new managed services.
• Recurring subscription sales reached $236,000, accounting for 12% of total gross revenue.

GCT Semiconductor saw early revenue from 5G chipsets in Q3 2025, marking a pivotal milestone, though revenue dropped significantly YoY and net loss widened as production costs remained high and sales volume was limited.

• Recorded $148,000 in revenue from first 5G product shipments.
• Total net revenue declined 84% YoY to $430,000.

Pulmonx reported a 5% year-over-year increase in revenue to $21.5 million in Q3 2025, driven by international growth. Gross margin improved slightly to 75%, though the company remained unprofitable with a net loss of $14.0 million and an adjusted EBITDA loss of $8.2 million.

• Revenue reached $21.5 million, up 5% from Q3 2024.
• International revenue rose 15% YoY, outpacing the 1% U.S. growth.

Regis Corporation delivered a strong first quarter with improved same-store sales, a revenue increase driven by the Alline acquisition, and a return to profitability.

• Consolidated revenue rose to $59.0 million, driven by the Alline acquisition
• Net income improved to $1.4 million compared to a $0.9 million loss last year

Annovis Bio posted a net loss of $7.26 million in Q3 2025, a significant improvement from $12.64 million in the same period last year. R&D expenses rose sharply as the company progressed its Phase 3 Alzheimer's trial, while G&A costs declined.

• Net loss decreased to $7.26 million from $12.64 million in Q3 2024
• R&D expenses increased to $6.3 million as trials ramped up

In Q3 2025, reAlpha Tech Corp achieved 326% revenue growth year-over-year, primarily fueled by expanded mortgage operations. Despite the growth, the company posted a net loss of $5.8 million due to higher marketing and professional expenses.

• Revenue rose 326% year-over-year to $1.45 million, driven by mortgage-related services.
• Gross profit reached $749,580 with a margin decline due to higher cost contributions from brokerage services.

SurgePays achieved a significant revenue increase driven by its Lifeline and prepaid wireless services, though it posted a net loss due to high operating costs.

• Revenue rose to $18.7 million, a 292% year-over-year increase.
• Torch Wireless contributed $5.6 million in revenue with over 125,000 subscribers.

Rockwell Medical's Q3 2025 results showed revenue decline due to customer transition, but the company achieved profitability on an adjusted EBITDA basis and improved cash position.

• Revenue for Q3 2025 was $15.9 million, down significantly year-over-year due to customer loss.
• Net loss for the quarter was $1.8 million, compared to net income of $1.7 million a year ago.

Hydrofarm Holdings Group's Q3 2025 results showed a 33% drop in sales due to continued industry oversupply, leading to wider net losses. Despite lower manufacturing volumes and reduced gross margins, the company achieved improvements in SG&A efficiencies and free cash flow while pursuing additional restructuring savings.

• Net sales fell 33% year over year to $29.4 million amid lower product volumes.
• Gross profit margin declined to 11.6%, while adjusted gross profit margin dropped to 18.8%.

Allurion Technologies, Inc. announced its third-quarter 2025 financial results, reporting a revenue of $2.7 million and a net loss of $11.9 million. The company successfully passed FDA inspections with zero observations and completed its Day-100 meeting, indicating progress towards FDA approval. Additionally, Allurion strengthened its balance sheet by exchanging outstanding debt for convertible preferred equity and securing $5 million in private placement financing.

• Successfully passed U.S. FDA Pre-Approval Inspection and Bioresearch Monitoring (BIMO) audit with zero observations.
• Completed Premarket Approval (PMA) Acceptance and Filing Reviews, entering Substantive Review for the Allurion Smart Capsule.

Cypherpunk Technologies posted a Q3 2025 net loss of $3.3 million, substantially narrower than the $18.2 million loss in Q3 2024, reflecting a major reduction in research and development expenses following a corporate restructuring and trial completions.

• Net loss narrowed to $3.3 million from $18.2 million in Q3 2024.
• R&D expenses dropped to $1.2 million, down from $14.9 million.

Talphera posted a net loss of $4.4 million for Q3 2025, up from $3.4 million a year ago. Revenue was minimal at $1,000. Operating expenses declined slightly, and the company held $21.3 million in cash and investments at quarter end.

• Net loss for Q3 2025 increased to $4.4 million due to changes in warrant liability.
• Total revenue remained minimal at $1,000 for the quarter.

Digital Ally narrowed its net loss significantly in Q3 2025 through a combination of increased revenue and substantial cost reductions, despite a challenging economic environment.

• Revenue rose to $4.5M, up from $4.1M in Q3 2024.
• Net loss was reduced by over $2.4M YoY.

Nuwellis posted a net income in Q3 2025, supported by increased U.S. console sales and consumable utilization. Despite a slight year-over-year revenue decline, operational progress and product launches supported a strong sequential recovery.

• Revenue for Q3 2025 was $2.2 million, up 29% sequentially but down 6% YoY.
• Net income reached $468,000, marking a return to profitability.