NVE Corporation (NASDAQ:NVEC) Q3 2023 Earnings Call Transcript

And that’s been proposed for the — as a component, a key component for probabilistic computers. So it’s long term, but we do see that research as having applicability in other areas in addition to the focus at the time, which was five years ago, which was primarily for defense applications.

Jeffrey Bernstein: Got you. Okay. That’s great. And then just one other. You guys have looked at the analytical equipment market as a potential end market at some points in the past. And I know you were doing something looking at exosome detection. I was just wondering if anything had progressed there.

Daniel Baker: Yes. So we continue to see exosomes as a fascinating area. So exosomes are biological components that can be used to diagnose disease such as cancer and to make less invasive cancer tests. So we do have biosensor technology for higher sensitivity electronic rather than the optical test that can be used to detect exosomes. So we are looking at possible partnerships to use our technology. We don’t envision ourselves getting into the medical diagnostic market. We don’t have the distribution or the expertise on the equipment side. But we do see the possibility there of providing sensor systems and advanced biosensor systems to support those. So that’s an area of long-term research and exploration for us.

Jeffrey Bernstein: Got it. That’s great. Thanks very much for the whole today.

Operator: Our next question comes from the line of Walter Morris with Baraboo Growth. Your line is open.

Walter Morris : Hi, Dan, hi, Joe. Excellent quarter. My question was on the emerging hearing aid market, and that has been answered. So I’m okay. Thank you.

Daniel Baker: Okay. Thanks, Walter. By the way, my Midwestern roots won’t let me go without saying it’s Baraboo.

Operator: I’m showing no further questions in the queue. I’d now like to turn the call back over to Dan for closing remarks.

Daniel Baker: Well, thank you for all the questions. We were pleased to report a 22% increases in product sales and earnings for the quarter. We look forward to speaking with you again at our fiscal year-end call tentatively in early May. Thank you again.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation. You may now disconnect.