| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $99M | $82M | $45M | 21.7% | 121.7% |
| Op. Income | $9M | -$15M | -$39M | 158.4% | 121.8% |
| Gross Margin | 91.2% | 90.8% | 87.7% | 0.4pp | 3.5pp |
| Net Margin | 7.5% | -19.5% | -92.8% | 27.0pp | 100.3pp |
| EPS (Diluted) | $0.06 | $-0.13 | $-0.33 | 142.9% | 116.9% |
| Free Cash Flow | -$2M | $246.0K | -$35M | -813.0% | 95.0% |
| Item | Amount |
|---|---|
| REVENUE | $99M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $91M |
| R&D Expenses | $20M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $62M |
| Other Expenses | $0 |
| Operating Expenses | $82M |
| Cost & Expenses | $91M |
| OPERATING INCOME | $9M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | $80.0K |
| Net Income from Continuing Ops | $7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $7M |
| D&A | $562.0K |
| EBIT | $11M |
| EBITDA | $11M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $99M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $91M |
| R&D Expenses | $20M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $62M |
| Other Expenses | $0 |
| Operating Expenses | $82M |
| Cost & Expenses | $91M |
| OPERATING INCOME | $9M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | $80.0K |
| Net Income from Continuing Ops | $7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $7M |
| D&A | $562.0K |
| EBIT | $11M |
| EBITDA | $11M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $7M |
| Depreciation & Amortization | $562.0K |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $181.0K |
| Change in Working Capital | -$20M |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$69M |
| Sales/Maturities of Investments | $43M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$25M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $1M |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | -$26M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $47M |
| Short-Term Investments | $144M |
| Net Receivables | $115M |
| Inventory | $22M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $349M |
| PP&E (Net) | $6M |
| Goodwill | $0 |
| Intangible Assets | $15M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $596.0K |
| TOTAL NON-CURRENT ASSETS | $22M |
| TOTAL ASSETS | $371M |
| Account Payables | $6M |
| Short-Term Debt | $1M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $18M |
| TOTAL CURRENT LIABILITIES | $100M |
| Long-Term Debt | $107M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $360.0K |
| TOTAL NON-CURRENT LIABILITIES | $113M |
| TOTAL LIABILITIES | $213M |
| Common Stock | $12.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$62.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $158M |
| Minority Interest | $0 |
| TOTAL EQUITY | $158M |
| TOTAL LIABILITIES & EQUITY | $371M |
| Total Debt | $114M |
| Net Debt | $67M |
