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Q3 FY2026 EarningsQ3 FY26 results missed analyst consensus across all key financial metrics, characterized by a significant bottom-line shortfall. Revenue of $5.55M came in 2.38% below expectations, while the GAAP EPS loss of -$0.11 was substantially wider than the -$0.03 consensus. Gross margin of 54.7% missed the 58.5% target by 3.80pct, pressured by a shift toward lower-margin wholesale channels and regulatory-driven inventory reserves. Despite 20% YoY top-line growth fueled by the Bluebird acquisition and wholesale expansion, elevated operating expenses from M&A activity and regulatory compliance led to an operating loss of -$1.13M, significantly exceeding the -$0.28M consensus loss.