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Shimon Eckhouse
Co-Founder & Chairman
[Foreign Language] Good morning, Lou and Assaf in New York. [Foreign Language]
Lou, please go forward.
Louis Scafuri
Chief Govt Officer
Thanks, Shimon. Good afternoon, everybody. We’re more than happy to report our Q3 2025 outcomes and share our momentum with everybody on the decision. For Q3 2025, we achieved $21.1 million in income, which represents a 56% year-over-year progress. In addition to in Q3, $8.3 million of this income got here on a recurring foundation, which represents a 55% year-over-year progress. Our gross margins have been 73.7% and we achieved an IFRS internet earnings of $1 million. On the yr, from Q1 to Q3, we have achieved $58.7 million in income, representing a 42% year-over-year progress in addition to an IFRS internet earnings of $1.4 million.
We ended the quarter on September 30 with $26.5 million in money, and we have now carried out over 667,000 remedies since commercialization. Properly, I haven’t got to inform anybody on the decision about how difficult {the marketplace} is. I imply there are a lot of, many headwinds, each economically in addition to geopolitically. And if we glance particularly on the U.S. market, the high-growth medspa markets have been impacted most by entry to capital and excessive rates of interest. Nevertheless, the core physicians, the dermatologists and plastic surgeons, that section of the market stays resilient.
We now have this rising tailwind, the rising adoption of GLP-1 agonist, which have been driving the demand precisely for what SofWave makes, which is lifting, laxity and superior firming remedies. As we glance forward, we’re assuming with the rates of interest being lowered, client spending may enhance. Excessive rates of interest, once more, are being
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