| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1M | $2M | $32M | -28.1% | -96.3% |
| Op. Income | -$21M | -$25M | $9M | 16.6% | -322.4% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 0.0pp | 0.0pp |
| Net Margin | -1688.8% | -1622.4% | 21.6% | -66.4pp | -1710.4pp |
| EPS (Diluted) | $-0.20 | $-0.27 | $0.06 | 23.8% | -420.0% |
| Free Cash Flow | -$23M | -$20M | -$18M | -15.2% | -28.5% |
| Item | Amount |
|---|---|
| REVENUE | $1M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $1M |
| R&D Expenses | $17M |
| Selling & Marketing | $0 |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | $594.4K |
| Operating Expenses | $22M |
| Cost & Expenses | $22M |
| OPERATING INCOME | -$21M |
| Interest Income | $407.3K |
| Interest Expense | $0 |
| Other Income/Expenses | $392.0K |
| INCOME BEFORE TAX | -$20M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$20M |
| D&A | $432.7K |
| EBIT | -$20M |
| EBITDA | -$20M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$20M |
| Depreciation & Amortization | $780.2K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$4M |
| Change in Working Capital | -$126.0K |
| OPERATING CASH FLOW | -$23M |
| Capital Expenditure | -$73.8K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $26M |
| NET CASH FROM INVESTING | $26M |
| Net Debt Issuance | -$328.4K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $5.1K |
| NET CASH FROM FINANCING | -$323.3K |
| FREE CASH FLOW | -$23M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $35M |
| Short-Term Investments | $103M |
| Net Receivables | $511.6K |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $145M |
| PP&E (Net) | $9M |
| Goodwill | $0 |
| Intangible Assets | $64M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $743.3K |
| TOTAL NON-CURRENT ASSETS | $74M |
| TOTAL ASSETS | $218M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $107M |
| TOTAL CURRENT LIABILITIES | $125M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $14M |
| TOTAL LIABILITIES | $139M |
| Common Stock | $3M |
| Additional Paid-In Capital | $611M |
| Retained Earnings | -$534M |
| Treasury Stock | -$277.5K |
| Accum. Other Comp. Income | $3.8K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $79M |
| Minority Interest | $0 |
| TOTAL EQUITY | $79M |
| TOTAL LIABILITIES & EQUITY | $218M |
| Total Debt | $6M |
| Net Debt | -$29M |
