| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $21M | $9M | $0 | 132.9% | — |
| Op. Income | -$61M | -$65M | -$59M | 6.2% | -3.9% |
| Gross Margin | -16.8% | -99.9% | — | 83.0pp | — |
| Net Margin | -229.0% | -781.1% | — | 552.1pp | — |
| EPS (Diluted) | $-0.18 | $-0.26 | $-0.22 | 30.8% | 18.2% |
| Free Cash Flow | -$80M | -$84M | -$52M | 4.5% | -54.2% |
| Item | Amount |
|---|---|
| REVENUE | $21M |
| Cost of Revenue | $24M |
| GROSS PROFIT | -$4M |
| R&D Expenses | $27M |
| Selling & Marketing | $0 |
| General & Administrative | $30M |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $58M |
| Cost & Expenses | $82M |
| OPERATING INCOME | -$61M |
| Interest Income | $12M |
| Interest Expense | $0 |
| Other Income/Expenses | $14M |
| INCOME BEFORE TAX | -$48M |
| Income Tax Expense | $397.0K |
| Net Income from Continuing Ops | -$48M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$48M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$48M |
| D&A | $4M |
| EBIT | -$61M |
| EBITDA | -$57M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$48M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $384.0K |
| Other Non-Cash Items | -$11M |
| Change in Working Capital | -$23M |
| OPERATING CASH FLOW | -$73M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$48M |
| Sales/Maturities of Investments | $151M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $96M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$768.0K |
| NET CASH FROM FINANCING | -$768.0K |
| FREE CASH FLOW | -$80M |
| Net Change in Cash | $28M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $124M |
| Short-Term Investments | $330M |
| Net Receivables | $79M |
| Inventory | $24M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $574M |
| PP&E (Net) | $125M |
| Goodwill | $0 |
| Intangible Assets | $13M |
| Long-Term Investments | $0 |
| Tax Assets | $2M |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $147M |
| TOTAL ASSETS | $721M |
| Account Payables | $5M |
| Short-Term Debt | $0 |
| Deferred Revenue | $2M |
| Other Current Liabilities | $28M |
| TOTAL CURRENT LIABILITIES | $68M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $245M |
| TOTAL NON-CURRENT LIABILITIES | $306M |
| TOTAL LIABILITIES | $375M |
| Common Stock | $12.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $862.0K |
| Other Equity | $118.0K |
| TOTAL STOCKHOLDERS' EQUITY | $346M |
| Minority Interest | $0 |
| TOTAL EQUITY | $346M |
| TOTAL LIABILITIES & EQUITY | $721M |
| Total Debt | $65M |
| Net Debt | -$59M |
