| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $9M | $17M | $7M | -47.6% | 37.6% |
| Op. Income | -$76M | -$50M | -$94M | -53.8% | 18.6% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 0.0pp | 0.0pp |
| Net Margin | -637.8% | -203.3% | -785.4% | -434.6pp | 147.6pp |
| EPS (Diluted) | $-0.19 | $-0.12 | $-0.17 | -58.3% | -11.8% |
| Free Cash Flow | -$62M | -$46M | -$48M | -34.4% | -29.3% |
| Item | Amount |
|---|---|
| REVENUE | $9M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $9M |
| R&D Expenses | $55M |
| Selling & Marketing | $3M |
| General & Administrative | $22M |
| SG&A Expenses | $25M |
| Other Expenses | $5M |
| Operating Expenses | $85M |
| Cost & Expenses | $85M |
| OPERATING INCOME | -$76M |
| Interest Income | $7M |
| Interest Expense | $0 |
| Other Income/Expenses | $8M |
| INCOME BEFORE TAX | -$69M |
| Income Tax Expense | -$12M |
| Net Income from Continuing Ops | -$57M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$57M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$57M |
| D&A | $7M |
| EBIT | -$74M |
| EBITDA | -$66M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$57M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $14M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$18M |
| OPERATING CASH FLOW | -$53M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | -$2M |
| Purchases of Investments | -$36M |
| Sales/Maturities of Investments | $83M |
| Other Investing Activities | $918.0K |
| NET CASH FROM INVESTING | $36M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $7M |
| NET CASH FROM FINANCING | $7M |
| FREE CASH FLOW | -$62M |
| Net Change in Cash | -$9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $83M |
| Short-Term Investments | $413M |
| Net Receivables | $159M |
| Inventory | $0 |
| Other Current Assets | $40M |
| TOTAL CURRENT ASSETS | $695M |
| PP&E (Net) | $427M |
| Goodwill | $48M |
| Intangible Assets | $39M |
| Long-Term Investments | $93M |
| Tax Assets | $0 |
| Other Non-Current Assets | $53M |
| TOTAL NON-CURRENT ASSETS | $661M |
| TOTAL ASSETS | $1.4B |
| Account Payables | $32M |
| Short-Term Debt | $0 |
| Deferred Revenue | $25M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $69M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $175M |
| Deferred Tax Liabilities | $10M |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $323M |
| TOTAL LIABILITIES | $392M |
| Common Stock | $794M |
| Additional Paid-In Capital | $193M |
| Retained Earnings | -$21M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $964M |
| Minority Interest | $0 |
| TOTAL EQUITY | $964M |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $142M |
| Net Debt | $59M |
