| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $29M | $26M | $31M | 10.3% | -6.1% |
| Op. Income | -$8M | -$13M | -$4M | 39.3% | -122.1% |
| Gross Margin | 63.5% | 70.6% | 71.4% | -7.1pp | -8.0pp |
| Net Margin | -56.0% | -51.1% | -11.8% | -4.8pp | -44.2pp |
| EPS (Diluted) | $-2.55 | $-2.10 | $-0.58 | -21.4% | -340.4% |
| Free Cash Flow | $19M | -$13M | $7M | 252.3% | 158.4% |
| Item | Amount |
|---|---|
| REVENUE | $29M |
| Cost of Revenue | $11M |
| GROSS PROFIT | $19M |
| R&D Expenses | $387.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $17M |
| Other Expenses | $9M |
| Operating Expenses | $27M |
| Cost & Expenses | $37M |
| OPERATING INCOME | -$8M |
| Interest Income | $675.0K |
| Interest Expense | $768.0K |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | -$16M |
| Income Tax Expense | $56.0K |
| 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 | $9M |
| EBIT | -$16M |
| EBITDA | -$6M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$16M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $10M |
| Change in Working Capital | $15M |
| OPERATING CASH FLOW | $19M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$28M |
| Sales/Maturities of Investments | $29M |
| Other Investing Activities | -$8M |
| NET CASH FROM INVESTING | -$7M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$69.0K |
| NET CASH FROM FINANCING | -$69.0K |
| FREE CASH FLOW | $19M |
| Net Change in Cash | $12M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $47M |
| Short-Term Investments | $51M |
| Net Receivables | $74M |
| Inventory | $33M |
| Other Current Assets | $353.0K |
| TOTAL CURRENT ASSETS | $210M |
| PP&E (Net) | $2M |
| Goodwill | $0 |
| Intangible Assets | $62M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $64M |
| TOTAL ASSETS | $274M |
| Account Payables | $11M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $133M |
| Long-Term Debt | $39M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | $6M |
| TOTAL NON-CURRENT LIABILITIES | $48M |
| TOTAL LIABILITIES | $180M |
| Common Stock | $9.0K |
| Additional Paid-In Capital | $796M |
| Retained Earnings | -$703M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $93M |
| Minority Interest | $0 |
| TOTAL EQUITY | $93M |
| TOTAL LIABILITIES & EQUITY | $274M |
| Total Debt | $40M |
| Net Debt | -$7M |
