| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | -$24M | $37M | $20M | -163.5% | -215.7% |
| Op. Income | -$53M | $8M | $9M | -739.5% | -668.2% |
| Gross Margin | 167.6% | 56.2% | 100.0% | 111.4pp | 67.6pp |
| Net Margin | -24.6% | 15.6% | 28.7% | -40.2pp | -53.2pp |
| EPS (Diluted) | $0.75 | $0.75 | $0.77 | 0.0% | -2.6% |
| Free Cash Flow | $12M | $6M | $0 | 95.5% | — |
| Item | Amount |
|---|---|
| REVENUE | -$24M |
| Cost of Revenue | $16M |
| GROSS PROFIT | -$40M |
| R&D Expenses | $0 |
| Selling & Marketing | $114.0K |
| General & Administrative | $715.0K |
| SG&A Expenses | $829.0K |
| Other Expenses | $13M |
| Operating Expenses | $13M |
| Cost & Expenses | $29M |
| OPERATING INCOME | -$53M |
| Interest Income | $0 |
| Interest Expense | $14M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$53M |
| Income Tax Expense | -$59M |
| Net Income from Continuing Ops | $6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $6M |
| D&A | $293.0K |
| EBIT | -$53M |
| EBITDA | -$53M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $6M |
| Depreciation & Amortization | $293.0K |
| Stock-Based Compensation | $811.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $924.0K |
| Change in Working Capital | $5M |
| OPERATING CASH FLOW | $12M |
| Capital Expenditure | $58.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$161M |
| Sales/Maturities of Investments | $281M |
| Other Investing Activities | -$47M |
| NET CASH FROM INVESTING | $73M |
| Net Debt Issuance | -$145M |
| Common Stock Repurchased | -$421.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $46M |
| NET CASH FROM FINANCING | -$38M |
| FREE CASH FLOW | $12M |
| Net Change in Cash | $47M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $12M |
| Short-Term Investments | $174M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $186M |
| PP&E (Net) | $2M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $2M |
| TOTAL ASSETS | $2.4B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.0B |
| TOTAL CURRENT LIABILITIES | $2.0B |
| Long-Term Debt | $22M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $18M |
| TOTAL NON-CURRENT LIABILITIES | $40M |
| TOTAL LIABILITIES | $2.1B |
| Common Stock | $169M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $104M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$430.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $273M |
| Minority Interest | $0 |
| TOTAL EQUITY | $273M |
| TOTAL LIABILITIES & EQUITY | $2.4B |
| Total Debt | $22M |
| Net Debt | $10M |
