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- **Revenue Growth**: Q3 sales up 18% YoY to $3.43 million, driven by dealer expansion and operational efficiency.
- **Cost Optimization**: Sold North Carolina property for $4.25 million to reduce overhead and strengthen balance sheet.
- **Operational Excellence**: 5-axis CNC router cuts costs and improves production timelines.
- **Product Momentum**: 22-foot BayCat model resonating with customers, 3D configurator enhances online engagement.
- **Financial Health**: Gross margin improved to 9.6% for first 9 months, net loss narrowed by $240k YoY.

**【CEO Summary Section】**
- **Market Challenges**: High interest rates, inflation, and cautious consumer spending are slowing new boat sales industry-wide.
- **Strategic Initiatives**: 
  - Expanded dealer network with 10 new locations in Southeastern US and Australia.
  - Completed Fort Pierce facility expansion and installed a 46-foot 5-axis CNC router to reduce costs and improve efficiency.
  - Sold North Carolina property for $4.25 million to reduce overhead and strengthen balance sheet.
- **Product Highlights**: 
  - 22-foot BayCat model is performing well with production aligned to dealer orders.
  - Integrated Bahama Boat Works into Fort Pierce facility, pacing rollout to match demand.
  - Launched 3D boat configurator on twinvee.com for real-time customization.
- **Financial Discipline**: Focused on cost control, lean operations, and producing to order rather than stock.

**【CFO Financial Commentary】**
- **Q3 2025 Results**: 
  - Net sales: $3.43 million (18% YoY growth)
  - Gross loss: $45,000 (improvement from $146,000 YoY)
  - SG&A expenses: Down 16% YoY
  - Net loss: $2.76 million (narrowed from $3 million YoY)
- **Balance Sheet Strength**: 
  - $2.7 million cash on hand
  - Completed North Carolina property sale generating $4.25 million (including $500k cash at closing)
  - Low leverage with only SBA loan at 3.75%
- **Operational Efficiency**: 
  - 5-axis CNC router reducing external vendor costs
  - 9.6% gross margin for first 9 months (vs. 2.7% YoY)
- **Q4 Focus**: Protect liquidity, support dealers, sell-through inventory, and rebuild backlog.

**【Q&A Highlights】**
- No questions were asked during the session.

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