| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $88M | $47M | $17M | 84.7% | 431.0% |
| Op. Income | -$21M | -$34M | -$23M | 36.4% | 7.7% |
| Gross Margin | 68.9% | 62.5% | 40.7% | 6.3pp | 28.2pp |
| Net Margin | -18.1% | -78.9% | -136.2% | 60.7pp | 118.1pp |
| EPS (Diluted) | $-0.10 | $-0.23 | $-0.14 | 57.0% | 29.4% |
| Free Cash Flow | -$17M | -$12M | -$11M | -37.6% | -49.0% |
| Item | Amount |
|---|---|
| REVENUE | $88M |
| Cost of Revenue | $27M |
| GROSS PROFIT | $60M |
| R&D Expenses | $4M |
| Selling & Marketing | $62M |
| General & Administrative | $17M |
| SG&A Expenses | $78M |
| Other Expenses | $0 |
| Operating Expenses | $82M |
| Cost & Expenses | $109M |
| OPERATING INCOME | -$21M |
| Interest Income | $1M |
| Interest Expense | $3M |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$16M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$16M |
| D&A | $387.5K |
| EBIT | -$13M |
| EBITDA | -$13M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$16M |
| Depreciation & Amortization | $387.5K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$7M |
| Change in Working Capital | $8M |
| OPERATING CASH FLOW | -$13M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | -$3M |
| Purchases of Investments | -$4.6K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$7M |
| Net Debt Issuance | $11M |
| Common Stock Repurchased | -$67.9K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $33M |
| FREE CASH FLOW | -$17M |
| Net Change in Cash | $14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $28M |
| Short-Term Investments | $0 |
| Net Receivables | $70M |
| Inventory | $1M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $109M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $4M |
| Long-Term Investments | $16M |
| Tax Assets | $0 |
| Other Non-Current Assets | $16M |
| TOTAL NON-CURRENT ASSETS | $39M |
| TOTAL ASSETS | $148M |
| Account Payables | $8M |
| Short-Term Debt | $30M |
| Deferred Revenue | $40M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $124M |
| Long-Term Debt | $6M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $17M |
| TOTAL LIABILITIES | $140M |
| Common Stock | $28.5K |
| Additional Paid-In Capital | $140M |
| Retained Earnings | -$137M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3M |
| Minority Interest | $5M |
| TOTAL EQUITY | $8M |
| TOTAL LIABILITIES & EQUITY | $148M |
| Total Debt | $38M |
| Net Debt | $10M |
