Revenue: As of FY2025 Q3, the actual value is USD 753 K.

EPS: As of FY2025 Q3, the actual value is USD -0.11.

EBIT: As of FY2025 Q3, the actual value is USD -22.37 M.

Segment Revenue

• Product Revenue, Net: $703 thousand for the three months ended September 30, 2025, and $950 thousand for the nine months ended September 30, 2025.
• Contract Revenue: $50 thousand for the three months ended September 30, 2025, and $621 thousand for the nine months ended September 30, 2025.

Operational Metrics

• Cost of Goods Sold: $260 thousand for the three months ended September 30, 2025, and $620 thousand for the nine months ended September 30, 2025.
• Research and Development Expenses: $17.3 million for the three months ended September 30, 2025, a decrease of 25% from $22.9 million for the same period in 2024. For the nine months ended September 30, 2025, $54.7 million, a decrease of 19% from $67.9 million in 2024.
• Selling, General and Administrative Expenses: $7.6 million for the three months ended September 30, 2025, an increase of 4% from $7.3 million in 2024. For the nine months ended September 30, 2025, $23.6 million, an increase of 28% from $18.4 million in 2024.

Cash Flow

• Net Cash Used in Operating Activities: $78.9 million for the nine months ended September 30, 2025, compared to $71.5 million for the same period in 2024.
• Net Cash Used in Investing Activities: $845 thousand for the nine months ended September 30, 2025, compared to $1.5 million in 2024.
• Net Cash Provided by Financing Activities: $4.3 million for the nine months ended September 30, 2025, compared to $63.2 million in 2024.

Unique Metrics

• Change in Fair Value of Contingent Earnout Liability: $4.9 million gain for the three months ended September 30, 2025, compared to an $8.5 million loss in 2024. For the nine months ended September 30, 2025, $49.2 million gain compared to a $38.7 million loss in 2024.
• Change in Fair Value of Derivatives: $4.0 million gain for the three months ended September 30, 2025, compared to $1.0 million in 2024. For the nine months ended September 30, 2025, $18.2 million gain compared to $0.7 million in 2024.

Future Outlook and Strategy

• Core Business Focus: The company plans to commercialize Symvess in the U.S. for vascular trauma and, if approved, in AV access for hemodialysis. It aims to obtain marketing approval for its 6 millimeter ATEV in additional indications and scale its manufacturing facility to meet potential market demand.
• Non-Core Business: The company is exploring applications of its technology across a broad range of markets and indications, including the development of urinary conduit, trachea, esophagus, and other novel cell delivery systems.