| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $59M | $62M | $37M | -5.9% | 57.0% |
| Op. Income | $4M | $14M | -$13M | -68.4% | 135.6% |
| Gross Margin | 83.5% | 84.1% | 62.2% | -0.6pp | 21.3pp |
| Net Margin | 0.9% | 0.4% | -53.5% | 0.5pp | 54.5pp |
| EPS (Diluted) | $0.00 | $0.00 | $-0.10 | 122.2% | 102.1% |
| Free Cash Flow | $28M | $22M | -$7M | 26.1% | 518.5% |
| Item | Amount |
|---|---|
| REVENUE | $59M |
| Cost of Revenue | $10M |
| GROSS PROFIT | $49M |
| R&D Expenses | $15M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $45M |
| Cost & Expenses | $54M |
| OPERATING INCOME | $4M |
| Interest Income | $0 |
| Interest Expense | $5M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $1M |
| Income Tax Expense | $615.0K |
| Net Income from Continuing Ops | $540.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $540.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $540.0K |
| D&A | $318.0K |
| EBIT | $6M |
| EBITDA | $6M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $59M |
| Cost of Revenue | $10M |
| GROSS PROFIT | $49M |
| R&D Expenses | $15M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $45M |
| Cost & Expenses | $54M |
| OPERATING INCOME | $4M |
| Interest Income | $0 |
| Interest Expense | $5M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $1M |
| Income Tax Expense | $615.0K |
| Net Income from Continuing Ops | $540.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $540.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $540.0K |
| D&A | $318.0K |
| EBIT | $6M |
| EBITDA | $6M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $540.0K |
| Depreciation & Amortization | $318.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $5M |
| Change in Working Capital | $19M |
| OPERATING CASH FLOW | $28M |
| Capital Expenditure | -$77.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$77.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $961.0K |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | $28M |
| Net Change in Cash | $29M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $166M |
| Short-Term Investments | $0 |
| Net Receivables | $66M |
| Inventory | $19M |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $258M |
| PP&E (Net) | $6M |
| Goodwill | $59M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $40M |
| TOTAL NON-CURRENT ASSETS | $106M |
| TOTAL ASSETS | $364M |
| Account Payables | $10M |
| Short-Term Debt | $0 |
| Deferred Revenue | $4M |
| Other Current Liabilities | $40M |
| TOTAL CURRENT LIABILITIES | $133M |
| Long-Term Debt | $48M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $142M |
| TOTAL NON-CURRENT LIABILITIES | $189M |
| TOTAL LIABILITIES | $323M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $1.7B |
| Retained Earnings | -$1.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $6.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $42M |
| Minority Interest | $0 |
| TOTAL EQUITY | $42M |
| TOTAL LIABILITIES & EQUITY | $364M |
| Total Debt | $53M |
| Net Debt | -$114M |
