| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $8M | $4M | $15M | 114.3% | -47.8% |
| Op. Income | -$34M | -$45M | -$46M | 23.6% | 25.1% |
| Gross Margin | 100.0% | 100.0% | 84.9% | 0.0pp | 15.1pp |
| Net Margin | -387.7% | -1101.6% | -256.4% | 713.9pp | -131.2pp |
| EPS (Diluted) | $-0.30 | $-0.41 | $-0.40 | 26.8% | 25.0% |
| Free Cash Flow | -$49M | -$61M | -$63M | 19.3% | 22.3% |
| Item | Amount |
|---|---|
| REVENUE | $8M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $8M |
| R&D Expenses | $28M |
| Selling & Marketing | $0 |
| General & Administrative | $14M |
| SG&A Expenses | $14M |
| Other Expenses | $0 |
| Operating Expenses | $42M |
| Cost & Expenses | $42M |
| OPERATING INCOME | -$34M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | -$31M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$31M |
| D&A | $3M |
| EBIT | -$34M |
| EBITDA | -$31M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$31M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$536.0K |
| Change in Working Capital | -$28M |
| OPERATING CASH FLOW | -$49M |
| Capital Expenditure | -$10.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$76M |
| Sales/Maturities of Investments | $132M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $56M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $122.0K |
| NET CASH FROM FINANCING | $122.0K |
| FREE CASH FLOW | -$49M |
| Net Change in Cash | $7M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $45M |
| Short-Term Investments | $263M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $12M |
| TOTAL CURRENT ASSETS | $319M |
| PP&E (Net) | $31M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $37M |
| TOTAL ASSETS | $356M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $13M |
| Other Current Liabilities | $60M |
| TOTAL CURRENT LIABILITIES | $84M |
| Long-Term Debt | $10M |
| Deferred Revenue NC | $169M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $201M |
| TOTAL LIABILITIES | $285M |
| Common Stock | $9.0K |
| Additional Paid-In Capital | $971M |
| Retained Earnings | -$900M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $96.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $71M |
| Minority Interest | $0 |
| TOTAL EQUITY | $71M |
| TOTAL LIABILITIES & EQUITY | $356M |
| Total Debt | $39M |
| Net Debt | -$5M |
