| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1M | $1M | $1M | 8.8% | 17.2% |
| Op. Income | -$12M | -$8M | -$7M | -50.5% | -60.5% |
| Gross Margin | 47.7% | 29.7% | 41.2% | 18.1pp | 6.6pp |
| Net Margin | -6263.9% | -766.7% | -873.8% | -5497.2pp | -5390.1pp |
| EPS (Diluted) | $-1.03 | $-0.12 | $-0.24 | -758.3% | -329.2% |
| Free Cash Flow | -$10M | -$6M | -$8M | -74.5% | -24.6% |
| Item | Amount |
|---|---|
| REVENUE | $1M |
| Cost of Revenue | $626.2K |
| GROSS PROFIT | $572.1K |
| R&D Expenses | $879.9K |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $0 |
| Operating Expenses | $13M |
| Cost & Expenses | $13M |
| OPERATING INCOME | -$12M |
| Interest Income | $925.0K |
| Interest Expense | $81.8K |
| Other Income/Expenses | -$63M |
| INCOME BEFORE TAX | -$75M |
| Income Tax Expense | $95.2K |
| Net Income from Continuing Ops | -$75M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$75M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$75M |
| D&A | $530.0K |
| EBIT | -$75M |
| EBITDA | -$74M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$75M |
| Depreciation & Amortization | $530.0K |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $81.1K |
| Other Non-Cash Items | $64M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$8M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$30M |
| NET CASH FROM INVESTING | -$32M |
| Net Debt Issuance | -$601.1K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$69.9K |
| NET CASH FROM FINANCING | $51M |
| FREE CASH FLOW | -$10M |
| Net Change in Cash | $12M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $68M |
| Short-Term Investments | $0 |
| Net Receivables | $31M |
| Inventory | $1M |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $102M |
| PP&E (Net) | $29M |
| Goodwill | $3M |
| Intangible Assets | $0 |
| Long-Term Investments | $376.3K |
| Tax Assets | $33.5K |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $34M |
| TOTAL ASSETS | $136M |
| Account Payables | $3M |
| Short-Term Debt | $342.1K |
| Deferred Revenue | $882.0K |
| Other Current Liabilities | $639.4K |
| TOTAL CURRENT LIABILITIES | $7M |
| Long-Term Debt | $100M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $101M |
| TOTAL LIABILITIES | $108M |
| Common Stock | $839.1K |
| Additional Paid-In Capital | $164M |
| Retained Earnings | -$140M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $29.1K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $25M |
| Minority Interest | $3M |
| TOTAL EQUITY | $28M |
| TOTAL LIABILITIES & EQUITY | $136M |
| Total Debt | $102M |
| Net Debt | $34M |
