| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $2M | $4M | 85.6% | -24.1% |
| Op. Income | -$17M | -$18M | -$10M | 6.8% | -63.8% |
| Gross Margin | 83.7% | -4.1% | 44.6% | 87.8pp | 39.1pp |
| Net Margin | -443.0% | -868.3% | -174.6% | 425.3pp | -268.4pp |
| EPS (Diluted) | $-0.12 | $-0.13 | $-0.11 | 7.7% | -9.1% |
| Free Cash Flow | -$11M | -$10M | $22M | -9.4% | -149.8% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $538.0K |
| GROSS PROFIT | $3M |
| R&D Expenses | $13M |
| Selling & Marketing | $0 |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | $2M |
| Operating Expenses | $20M |
| Cost & Expenses | $20M |
| OPERATING INCOME | -$17M |
| Interest Income | $2M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$15M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$15M |
| D&A | $210.0K |
| EBIT | -$15M |
| EBITDA | -$14M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$15M |
| Depreciation & Amortization | $210.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $612.0K |
| OPERATING CASH FLOW | -$11M |
| Capital Expenditure | -$23.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$5M |
| Sales/Maturities of Investments | $19M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $14M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | -$11M |
| Net Change in Cash | -$146.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $25M |
| Short-Term Investments | $71M |
| Net Receivables | $5M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $101M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $71M |
| Tax Assets | $0 |
| Other Non-Current Assets | $406.0K |
| TOTAL NON-CURRENT ASSETS | $75M |
| TOTAL ASSETS | $176M |
| Account Payables | $9M |
| Short-Term Debt | $533.0K |
| Deferred Revenue | $6M |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $26M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $28M |
| TOTAL NON-CURRENT LIABILITIES | $30M |
| TOTAL LIABILITIES | $55M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$948M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $597.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $120M |
| Minority Interest | $0 |
| TOTAL EQUITY | $120M |
| TOTAL LIABILITIES & EQUITY | $176M |
| Total Debt | $2M |
| Net Debt | -$23M |
