| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $6M | $25M | $24M | -74.4% | -73.5% |
| Op. Income | -$12M | -$20M | -$30M | 39.2% | 60.5% |
| Gross Margin | 44.4% | 61.2% | 68.7% | -16.8pp | -24.3pp |
| Net Margin | -126.7% | 23.9% | -128.1% | -150.6pp | 1.3pp |
| EPS (Diluted) | $-0.28 | $0.22 | $-1.21 | -227.3% | 76.9% |
| Free Cash Flow | -$7M | -$22M | — | 69.1% | — |
| Item | Amount |
|---|---|
| REVENUE | $6M |
| Cost of Revenue | $3M |
| GROSS PROFIT | $3M |
| R&D Expenses | $4.1B |
| Selling & Marketing | $2M |
| General & Administrative | $9M |
| SG&A Expenses | $11M |
| Other Expenses | -$4.1B |
| Operating Expenses | $15M |
| Cost & Expenses | $18M |
| OPERATING INCOME | -$12M |
| Interest Income | $0 |
| Interest Expense | $80M |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$9M |
| Income Tax Expense | -$613.1K |
| Net Income from Continuing Ops | -$8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$8M |
| D&A | $3M |
| EBIT | -$12M |
| EBITDA | -$9M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$8M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | -$243.5K |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$6M |
| Capital Expenditure | -$940.2K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$940.2K |
| Net Debt Issuance | -$6M |
| Common Stock Repurchased | -$20M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | $48M |
| FREE CASH FLOW | -$7M |
| Net Change in Cash | $43M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $84M |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $16M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $107M |
| PP&E (Net) | $10M |
| Goodwill | $572M |
| Intangible Assets | $86M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $249.4K |
| TOTAL NON-CURRENT ASSETS | $668M |
| TOTAL ASSETS | $775M |
| Account Payables | $4M |
| Short-Term Debt | $12M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $32M |
| Long-Term Debt | $674.7K |
| Deferred Revenue NC | $9.6K |
| Deferred Tax Liabilities | $523.9K |
| Other Non-Current Liabilities | $50.0K |
| TOTAL NON-CURRENT LIABILITIES | $3M |
| TOTAL LIABILITIES | $35M |
| Common Stock | $31 |
| Additional Paid-In Capital | $962M |
| Retained Earnings | -$211M |
| Treasury Stock | -$20M |
| Accum. Other Comp. Income | $8M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $740M |
| Minority Interest | $0 |
| TOTAL EQUITY | $740M |
| TOTAL LIABILITIES & EQUITY | $775M |
| Total Debt | $15M |
| Net Debt | -$69M |
