| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $17M | $0 | -84.7% | — |
| Op. Income | -$141M | -$102M | -$56M | -38.4% | -150.3% |
| Gross Margin | 100.0% | 100.0% | — | 0.0pp | — |
| Net Margin | 2225.1% | -569.1% | — | 2794.2pp | — |
| EPS (Diluted) | $0.77 | $-1.82 | $-1.04 | 142.3% | 174.0% |
| Free Cash Flow | -$107M | -$80M | -$53M | -33.1% | -102.9% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $3M |
| R&D Expenses | $109M |
| Selling & Marketing | $0 |
| General & Administrative | $21M |
| SG&A Expenses | $21M |
| Other Expenses | $13M |
| Operating Expenses | $143M |
| Cost & Expenses | $143M |
| OPERATING INCOME | -$141M |
| Interest Income | $3M |
| Interest Expense | $0 |
| Other Income/Expenses | $191M |
| INCOME BEFORE TAX | $51M |
| Income Tax Expense | -$9M |
| Net Income from Continuing Ops | $59M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $59M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $59M |
| D&A | $870.0K |
| EBIT | -$121M |
| EBITDA | -$120M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $59M |
| Depreciation & Amortization | $870.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$170M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | -$106M |
| Capital Expenditure | -$616.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $80M |
| Other Investing Activities | $50M |
| NET CASH FROM INVESTING | $129M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$17.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $749.0K |
| FREE CASH FLOW | -$107M |
| Net Change in Cash | $24M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $152M |
| Short-Term Investments | $335M |
| Net Receivables | $8M |
| Inventory | $0 |
| Other Current Assets | $23M |
| TOTAL CURRENT ASSETS | $518M |
| PP&E (Net) | $39M |
| Goodwill | $0 |
| Intangible Assets | $51M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $93M |
| TOTAL ASSETS | $611M |
| Account Payables | $15M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $13M |
| TOTAL CURRENT LIABILITIES | $86M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $3M |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | $554.0K |
| TOTAL NON-CURRENT LIABILITIES | $40M |
| TOTAL LIABILITIES | $126M |
| Common Stock | $10.0K |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | -$698M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $22.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $485M |
| Minority Interest | $0 |
| TOTAL EQUITY | $485M |
| TOTAL LIABILITIES & EQUITY | $611M |
| Total Debt | $39M |
| Net Debt | -$113M |
