| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $17M | $31M | — | -43.6% | — |
| Op. Income | -$26M | -$2M | — | -1470.4% | — |
| Gross Margin | -22.8% | 43.3% | — | -66.1pp | — |
| Net Margin | -109.0% | -4.0% | — | -105.0pp | — |
| EPS (Diluted) | $-4.66 | $-0.39 | — | -1094.9% | — |
| Free Cash Flow | $47M | $63M | — | -25.0% | — |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $21M |
| GROSS PROFIT | -$4M |
| R&D Expenses | $0 |
| Selling & Marketing | $262.0K |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $13M |
| Operating Expenses | $22M |
| Cost & Expenses | $43M |
| OPERATING INCOME | -$26M |
| Interest Income | $22M |
| Interest Expense | $10M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$26M |
| Income Tax Expense | -$7M |
| Net Income from Continuing Ops | -$19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$19M |
| D&A | $2M |
| EBIT | -$26M |
| EBITDA | -$24M |
| EPS | -$5 |
| EPS Diluted | -$5 |
| Item | Amount |
|---|---|
| Net Income | -$19M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $100.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $65M |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | $47M |
| Capital Expenditure | -$10.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$477.0K |
| Sales/Maturities of Investments | $794.0K |
| Other Investing Activities | -$24M |
| NET CASH FROM INVESTING | -$24M |
| Net Debt Issuance | $10M |
| Common Stock Repurchased | $9.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $8M |
| NET CASH FROM FINANCING | $18M |
| FREE CASH FLOW | $47M |
| Net Change in Cash | $41M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $30M |
| Net Receivables | $9M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $44M |
| PP&E (Net) | $47M |
| Goodwill | $0 |
| Intangible Assets | $16M |
| Long-Term Investments | $1.1B |
| Tax Assets | $6M |
| Other Non-Current Assets | -$1.1B |
| TOTAL NON-CURRENT ASSETS | $52M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $1M |
| Short-Term Debt | $50M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.1B |
| TOTAL CURRENT LIABILITIES | $1.2B |
| Long-Term Debt | $58M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $13M |
| TOTAL NON-CURRENT LIABILITIES | $84M |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $55M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $22M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | -$538.0K |
| TOTAL STOCKHOLDERS' EQUITY | $90M |
| Minority Interest | $0 |
| TOTAL EQUITY | $90M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $71M |
| Net Debt | -$4M |
