What is zSpace's latest dividend and current dividend yield?

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What does zSpace do and what are its main business segments?

What were the key takeaways from zSpace's earnings call?

What is zSpace's gross profit margin?

What is the market's earnings forecast for zSpace next quarter?

What guidance did zSpace's management provide for the next earnings period?

Did zSpace beat or miss consensus estimates last quarter?

- **Revenue resilience amid U.S. funding uncertainty**: Q3 revenue up 18% sequentially, with software/services at 57% of total and 640bps gross margin expansion.
- **Global expansion success**: Career Explorer app and AI-powered language translation enable 50+ language support, driving wins in UAE, Italy, Bulgaria, Poland.
- **Customer retention strength**: 77% net dollar retention (excluding 2 macro-impacted customers), with 94% retention across stable base.
- **Hardware innovation on horizon**: New stylus device set to improve user experience and reduce costs, supporting margin expansion.

**【CEO Summary Section】**
- Q3 2025 revenue of $8.8 million, down 38% YoY but up 18% sequentially, driven by strong customer renewals and software adoption. Software/services revenue comprised 57% of total, up 11pts YoY, contributing to 640bps gross margin expansion.
- Launched Career Explorer (AI-powered career exploration app) and expanded global reach via AI-driven language translation, enabling use in over 50 languages. Secured international wins in UAE, Italy, Bulgaria, Poland, and Middle East, including GEMS Education partnership in Dubai.
- U.S. K-12 funding uncertainty persists, with 2 large customers reducing renewals due to macro factors. However, 70% of devices retained, preserving long-term upsell opportunity.
- Cautious optimism for Q4 despite government shutdown delaying funding access, with 77% net dollar retention (excluding 2 customers) and stable renewal rates across broader base.

**【CFO Financial Commentary】**
- Year-to-date (YTD) revenue $23M (-22% YoY), gross profit $10.9M (-10% YoY), gross margin 47.3% (+6.4pts YoY). Q3 gross margin 51.2% (+6.4pts YoY), driven by software mix shift and new hardware innovations.
- Bookings $22.7M (-35% YoY), with CTE customers (49% of Q3 bookings) leading growth. Adjusted EBITDA loss narrowed to <$2M Q3, down from prior quarters, reflecting cost control.
- Cash position $4.3M, up from $3.0M YoY. Tariffs impacted gross margin by ~1%, but treated as pass-through with minimal compression.
- New stylus hardware release expected to improve user experience and reduce logistics complexity, supporting margin expansion.

**【Q&A Key Highlights】**
- **Government Shutdown Impact**: Delays in federal funding access caused by shutdown, but state/local funding (80% of K-12 budget) continues flowing. Schools preserved zSpace devices but reduced software renewals.
- **Danbury Schools Win**: Largest high school district in CT deployed Career Explorer in 12,000-student district, focusing on middle/high schools. GEMS Education in UAE plans broader rollout post-pilot.
- **Customer Retention**: 77% net dollar retention (excluding 2 customers), with 94% retention across stable base. Largest customer reduced renewal by 33% but retained all 800 devices.
- **Hardware Innovation**: New stylus simplifies interaction, reduces peripherals, and lowers shipping costs. Expected to drive step-change margin improvement.

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