| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $21M | $21M | $0 | 1.3% | — |
| Op. Income | -$72M | -$61M | -$69M | -17.0% | -4.0% |
| Gross Margin | -35.1% | -16.8% | — | -18.3pp | — |
| Net Margin | -373.3% | -229.0% | — | -144.3pp | — |
| EPS (Diluted) | $-0.30 | $-0.18 | $-0.31 | -66.7% | 3.2% |
| Free Cash Flow | -$52M | -$80M | -$86M | 34.6% | 39.3% |
| Item | Amount |
|---|---|
| REVENUE | $21M |
| Cost of Revenue | $29M |
| GROSS PROFIT | -$7M |
| R&D Expenses | $28M |
| Selling & Marketing | $0 |
| General & Administrative | $36M |
| SG&A Expenses | $36M |
| Other Expenses | $0 |
| Operating Expenses | $64M |
| Cost & Expenses | $93M |
| OPERATING INCOME | -$72M |
| Interest Income | $4M |
| Interest Expense | $11M |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | -$79M |
| Income Tax Expense | $532.0K |
| Net Income from Continuing Ops | -$79M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$79M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$79M |
| D&A | $3M |
| EBIT | -$68M |
| EBITDA | -$65M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$79M |
| Depreciation & Amortization | $595.0K |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $13.0K |
| Other Non-Cash Items | -$34M |
| Change in Working Capital | $41M |
| OPERATING CASH FLOW | -$68M |
| Capital Expenditure | $16M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$83M |
| Sales/Maturities of Investments | $131M |
| Other Investing Activities | -$28M |
| NET CASH FROM INVESTING | $36M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$2M |
| FREE CASH FLOW | -$52M |
| Net Change in Cash | -$38M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $86M |
| Short-Term Investments | $281M |
| Net Receivables | $91M |
| Inventory | $28M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $515M |
| PP&E (Net) | $123M |
| Goodwill | $0 |
| Intangible Assets | $20M |
| Long-Term Investments | $0 |
| Tax Assets | $2M |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $147M |
| TOTAL ASSETS | $662M |
| Account Payables | $11M |
| Short-Term Debt | $0 |
| Deferred Revenue | $8M |
| Other Current Liabilities | $35M |
| TOTAL CURRENT LIABILITIES | $83M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $252M |
| TOTAL NON-CURRENT LIABILITIES | $313M |
| TOTAL LIABILITIES | $396M |
| Common Stock | $12.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$5M |
| Other Equity | $118.0K |
| TOTAL STOCKHOLDERS' EQUITY | $265M |
| Minority Interest | $0 |
| TOTAL EQUITY | $265M |
| TOTAL LIABILITIES & EQUITY | $662M |
| Total Debt | $66M |
| Net Debt | -$20M |
