| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $378.0K | $593.0K | $2M | -36.3% | -77.8% |
| Op. Income | -$30M | -$31M | -$29M | 3.9% | -4.4% |
| Gross Margin | 100.0% | -3349.9% | -97.2% | 3449.9pp | 197.2pp |
| Net Margin | -7594.2% | -5155.0% | -1610.7% | -2439.2pp | -5983.5pp |
| EPS (Diluted) | $-0.20 | $-0.24 | $-0.24 | 16.7% | 16.7% |
| Free Cash Flow | -$26M | -$17M | -$21M | -52.0% | -25.1% |
| Item | Amount |
|---|---|
| REVENUE | $378.0K |
| Cost of Revenue | $0 |
| GROSS PROFIT | $378.0K |
| R&D Expenses | $19M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $11M |
| Operating Expenses | $31M |
| Cost & Expenses | $31M |
| OPERATING INCOME | -$30M |
| Interest Income | $0 |
| Interest Expense | $45.0K |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$29M |
| Income Tax Expense | $104.0K |
| Net Income from Continuing Ops | -$29M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$29M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$29M |
| D&A | $3M |
| EBIT | -$29M |
| EBITDA | -$26M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$29M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$837.0K |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$25M |
| Capital Expenditure | -$962.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$77M |
| Sales/Maturities of Investments | $14M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$64M |
| Net Debt Issuance | -$781.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $60M |
| FREE CASH FLOW | -$26M |
| Net Change in Cash | -$28M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $9M |
| Short-Term Investments | $143M |
| Net Receivables | $1M |
| Inventory | $0 |
| Other Current Assets | $16M |
| TOTAL CURRENT ASSETS | $175M |
| PP&E (Net) | $26M |
| Goodwill | $0 |
| Intangible Assets | $42M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $70M |
| TOTAL ASSETS | $245M |
| Account Payables | $5M |
| Short-Term Debt | $1M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $14M |
| TOTAL CURRENT LIABILITIES | $30M |
| Long-Term Debt | $65.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $5M |
| TOTAL LIABILITIES | $35M |
| Common Stock | $15.0K |
| Additional Paid-In Capital | $805M |
| Retained Earnings | -$595M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $500.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $210M |
| Minority Interest | $0 |
| TOTAL EQUITY | $210M |
| TOTAL LIABILITIES & EQUITY | $245M |
| Total Debt | $6M |
| Net Debt | -$3M |
