Gross Margin DeclineQ3 gross margin was 49%, down from 58% last year due to the decline in sales and lower production volumes leading to less absorption of labor and overhead costs.
Revenue ShortfallRevenue was $3.4M, which fell short of the $5.2M consensus.
Sales ImpactSales were hurt by the intra-quarter decision to realign toward distributors with physician networks that prescribe GLP-1s.