The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: David Kanen - - Analyst
: Are you guys able to hear me?
Question: David Kanen - - Analyst
: The first one pertains to your meeting next Monday in Rome with the government. And if you could give us some sense as to the outcome
maybe, sometimes we talk in terms of the bear case scenario, the moderate, reasonable scenario and then the bull case.
What do you expect to come of the meeting? And then on a go-forward basis, what our cost structure will look like, given the concessions
that we hope to get from labor and so forth?
Question: David Kanen - - Analyst
: I see. And is your goal, assuming you can get these concessions and right size the workforce, do you anticipate at the current levels of
revenue that we would actually be profitable and stop burning cash because obviously, it's unsustainable to continue burning cash.
Question: David Kanen - - Analyst
: Okay. And as I indicated to you on a go-forward basis, if you can achieve these concessions and we can achieve profitability, we would
certainly be interested in putting more money in perhaps through a pipe transaction to support the company and help you grow and thrive
well into the future.
We believe in the brand, and we believe there's a lot of potential given the right conditions.
Question: David Kanen - - Analyst
: So if you could give us an update on the commercial division that P.J. has been spearheading. There are companies that, exclusively in that
sector, the commercial sector that is doing more revenues than us as a combined entity, meaning $0.5 billion.
So I see this as a huge opportunity, and I think we have the right product and the brand to succeed there.
Can you give me a sense as to the progress that we've made since last quarter and you know, I'm sure you see the pipeline of opportunities
that you're bidding on. How big of an opportunity do you think this could be next year, 2026?
Question: David Kanen - - Analyst
: So I mean I see that you're working very hard and I appreciate that. But if you can give us some sense as to the magnitude of the opportunity.
I'm sure you have an internal goal for 2026. Again, kind of the bear case, the base case and the bull case. Can you give us a sense as to
what that opportunity is?
Question: David Kanen - - Analyst
: Yeah. No, I appreciate that. And then I guess one more question. You had indicated, you had implied in the prepared remarks in the press
release that you're in the final rounds of a CEO selection, if I'm interpreting correctly.
Any additional color you can give there? How many candidates would you say it's been narrowed down to? Do you have, is it 2? Is it 5? Is
it 10? And what do you think the time frame is for a decision to be made?
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DECEMBER 17, 2025 / 3:00PM, NTZ.N - Q3 2025 Natuzzi SpA Earnings Call
Question: David Kanen - - Analyst
: Okay, that's really all I have. I'd like to wish you and your team, a wonderful holiday and Merry Christmas. I know that you have the real [Stan
Nicola] is right there in Barry, so I hope he brings you good.
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