| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $796.0K | $0 | $389.3K | — | 104.5% |
| Op. Income | -$1M | -$2M | $49.9K | 49.1% | -2439.3% |
| Gross Margin | 100.0% | — | 99.9% | — | 0.1pp |
| Net Margin | -156.6% | — | -47.9% | — | -108.7pp |
| EPS (Diluted) | $-0.05 | $-0.13 | $-0.02 | 58.8% | -168.0% |
| Free Cash Flow | -$133.3K | -$894.2K | $171.7K | 85.1% | -177.6% |
| Item | Amount |
|---|---|
| REVENUE | $796.0K |
| Cost of Revenue | $0 |
| GROSS PROFIT | $796.0K |
| R&D Expenses | $29.9K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $2M |
| OPERATING INCOME | -$1M |
| Interest Income | $16.3K |
| Interest Expense | $0 |
| Other Income/Expenses | -$118.6K |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | $527 |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1M |
| D&A | $5.8K |
| EBIT | -$1M |
| EBITDA | -$1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$1M |
| Depreciation & Amortization | $96.0K |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $21.8K |
| Change in Working Capital | -$140.8K |
| OPERATING CASH FLOW | -$133.3K |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1M |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $150.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $982.4K |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$133.3K |
| Net Change in Cash | -$222.4K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $192.1K |
| Short-Term Investments | $65.2K |
| Net Receivables | $0 |
| Inventory | $11.5K |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $4M |
| PP&E (Net) | $12M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $17M |
| TOTAL ASSETS | $21M |
| Account Payables | $0 |
| Short-Term Debt | $1M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $7M |
| Long-Term Debt | $164.1K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $12.0K |
| TOTAL NON-CURRENT LIABILITIES | $176.1K |
| TOTAL LIABILITIES | $7M |
| Common Stock | $24.2K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$73M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $487.0K |
| Other Equity | $85M |
| TOTAL STOCKHOLDERS' EQUITY | $12M |
| Minority Interest | $2M |
| TOTAL EQUITY | $14M |
| TOTAL LIABILITIES & EQUITY | $21M |
| Total Debt | $1M |
| Net Debt | $1M |
