| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $16M | $19M | $18M | -12.8% | -11.0% |
| Op. Income | -$31M | -$44M | -$36M | 29.9% | 12.9% |
| Gross Margin | 92.7% | 95.6% | 95.4% | -2.9pp | -2.7pp |
| Net Margin | -249.4% | -300.7% | -238.1% | 51.3pp | -11.2pp |
| EPS (Diluted) | $-0.30 | $-0.50 | $-0.42 | 40.0% | 28.6% |
| Free Cash Flow | -$30M | -$24M | -$25M | -23.0% | -17.3% |
| Item | Amount |
|---|---|
| REVENUE | $16M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $15M |
| R&D Expenses | $27M |
| Selling & Marketing | $5M |
| General & Administrative | $14M |
| SG&A Expenses | $19M |
| Other Expenses | $377.0K |
| Operating Expenses | $46M |
| Cost & Expenses | $47M |
| OPERATING INCOME | -$31M |
| Interest Income | $2M |
| Interest Expense | $13M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | -$41M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$41M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$41M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$41M |
| D&A | $122.0K |
| EBIT | -$28M |
| EBITDA | -$27M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$41M |
| Depreciation & Amortization | $122.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $9M |
| Change in Working Capital | $392.0K |
| OPERATING CASH FLOW | -$30M |
| Capital Expenditure | -$2.2K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2.2K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $281.0K |
| NET CASH FROM FINANCING | -$198.0K |
| FREE CASH FLOW | -$30M |
| Net Change in Cash | -$30M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $235M |
| Short-Term Investments | $0 |
| Net Receivables | $23M |
| Inventory | $18M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $287M |
| PP&E (Net) | $1M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $3M |
| TOTAL ASSETS | $290M |
| Account Payables | $8M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $17M |
| TOTAL CURRENT LIABILITIES | $62M |
| Long-Term Debt | $115M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $350M |
| TOTAL NON-CURRENT LIABILITIES | $466M |
| TOTAL LIABILITIES | $528M |
| Common Stock | $10M |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$1.6B |
| Treasury Stock | -$205.0K |
| Accum. Other Comp. Income | -$702.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$238M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$238M |
| TOTAL LIABILITIES & EQUITY | $290M |
| Total Debt | $117M |
| Net Debt | -$117M |
