| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $66M | $68M | $70M | -2.9% | -5.0% |
| Op. Income | -$27M | $13M | $33M | -311.2% | -181.4% |
| Gross Margin | 92.1% | 22.3% | 93.9% | 69.8pp | -1.7pp |
| Net Margin | -31.6% | 9.3% | 32.4% | -40.9pp | -64.0pp |
| EPS (Diluted) | $-0.52 | $0.15 | $0.54 | -446.7% | -196.3% |
| Free Cash Flow | -$14M | -$4M | $206.0K | -249.4% | -6841.3% |
| Item | Amount |
|---|---|
| REVENUE | $66M |
| Cost of Revenue | $5M |
| GROSS PROFIT | $61M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $76M |
| Operating Expenses | $88M |
| Cost & Expenses | $93M |
| OPERATING INCOME | -$27M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$30M |
| Income Tax Expense | -$9M |
| Net Income from Continuing Ops | -$21M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$21M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$21M |
| D&A | $11M |
| EBIT | -$26M |
| EBITDA | -$15M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$21M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$9M |
| Other Non-Cash Items | $33M |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | $13M |
| Capital Expenditure | -$27M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $21M |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | -$7M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$71.0K |
| NET CASH FROM FINANCING | -$7M |
| FREE CASH FLOW | -$14M |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $0 |
| Short-Term Investments | $0 |
| Net Receivables | $33M |
| Inventory | $0 |
| Other Current Assets | $37M |
| TOTAL CURRENT ASSETS | $70M |
| PP&E (Net) | $363M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $38M |
| Tax Assets | $259M |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $661M |
| TOTAL ASSETS | $731M |
| Account Payables | $39M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $28M |
| TOTAL CURRENT LIABILITIES | $69M |
| Long-Term Debt | $123M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $143M |
| TOTAL NON-CURRENT LIABILITIES | $269M |
| TOTAL LIABILITIES | $338M |
| Common Stock | $405.0K |
| Additional Paid-In Capital | $444M |
| Retained Earnings | -$52M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $393M |
| Minority Interest | $0 |
| TOTAL EQUITY | $393M |
| TOTAL LIABILITIES & EQUITY | $731M |
| Total Debt | $128M |
| Net Debt | $128M |
