| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | -$210M | $257M | $259M | -181.6% | -180.8% |
| Op. Income | -$56M | $43M | $12M | -229.1% | -563.6% |
| Gross Margin | -79.0% | 71.4% | 77.0% | -150.3pp | -156.0pp |
| Net Margin | 18.9% | 25.4% | 26.5% | -6.5pp | -7.6pp |
| EPS (Diluted) | $2.08 | $0.50 | $2.03 | 318.8% | 2.3% |
| Free Cash Flow | $0 | $0 | $0 | — | — |
| Item | Amount |
|---|---|
| REVENUE | -$210M |
| Cost of Revenue | $94M |
| GROSS PROFIT | $165M |
| R&D Expenses | $40M |
| Selling & Marketing | $81M |
| General & Administrative | $20M |
| SG&A Expenses | $101M |
| Other Expenses | -$320M |
| Operating Expenses | -$179M |
| Cost & Expenses | -$154M |
| OPERATING INCOME | -$56M |
| Interest Income | $24M |
| Interest Expense | $0 |
| Other Income/Expenses | -$5M |
| INCOME BEFORE TAX | -$61M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $62M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$40M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$47M |
| D&A | $5M |
| EBIT | $16M |
| EBITDA | $21M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | -$40M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | -$3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $43M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $0 |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | $0 |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $440M |
| Short-Term Investments | $2.8B |
| Net Receivables | $208M |
| Inventory | $0 |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $3.5B |
| PP&E (Net) | $29M |
| Goodwill | $0 |
| Intangible Assets | $587M |
| Long-Term Investments | $67M |
| Tax Assets | $0 |
| Other Non-Current Assets | $60M |
| TOTAL NON-CURRENT ASSETS | $743M |
| TOTAL ASSETS | $4.2B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $94M |
| Other Current Liabilities | $74M |
| TOTAL CURRENT LIABILITIES | $432M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $67M |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $72M |
| TOTAL LIABILITIES | $504M |
| Common Stock | $3.5B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $3.5B |
| TOTAL STOCKHOLDERS' EQUITY | $3.5B |
| Minority Interest | $184M |
| TOTAL EQUITY | $3.7B |
| TOTAL LIABILITIES & EQUITY | $4.2B |
| Total Debt | $5M |
| Net Debt | -$435M |
