| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $27M | $23M | $17M | 17.3% | 63.1% |
| Op. Income | -$17M | -$20M | -$11M | 14.2% | -55.3% |
| Gross Margin | 55.5% | 53.8% | 53.4% | 1.7pp | 2.1pp |
| Net Margin | -52.1% | -72.6% | -58.3% | 20.5pp | 6.1pp |
| EPS (Diluted) | $-0.33 | $-0.39 | $-1.55 | 15.4% | 78.7% |
| Free Cash Flow | -$10M | -$15M | -$12M | 34.9% | 13.2% |
| Item | Amount |
|---|---|
| REVENUE | $27M |
| Cost of Revenue | $12M |
| GROSS PROFIT | $15M |
| R&D Expenses | $8M |
| Selling & Marketing | $16M |
| General & Administrative | $8M |
| SG&A Expenses | $24M |
| Other Expenses | $0 |
| Operating Expenses | $32M |
| Cost & Expenses | $44M |
| OPERATING INCOME | -$17M |
| Interest Income | $3M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$14M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$14M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$14M |
| D&A | $683.0K |
| EBIT | -$14M |
| EBITDA | -$14M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$14M |
| Depreciation & Amortization | $683.0K |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2.0K |
| Change in Working Capital | $317.0K |
| OPERATING CASH FLOW | -$9M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$60M |
| Sales/Maturities of Investments | $71M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $9M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$10M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $38M |
| Short-Term Investments | $190M |
| Net Receivables | $14M |
| Inventory | $20M |
| Other Current Assets | $265.0K |
| TOTAL CURRENT ASSETS | $270M |
| PP&E (Net) | $14M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $45M |
| Tax Assets | $0 |
| Other Non-Current Assets | $283.0K |
| TOTAL NON-CURRENT ASSETS | $60M |
| TOTAL ASSETS | $330M |
| Account Payables | $4M |
| Short-Term Debt | $0 |
| Deferred Revenue | $1M |
| Other Current Liabilities | $13M |
| TOTAL CURRENT LIABILITIES | $25M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $3M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $10M |
| TOTAL LIABILITIES | $35M |
| Common Stock | $4.0K |
| Additional Paid-In Capital | $651M |
| Retained Earnings | -$356M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $354.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $295M |
| Minority Interest | $0 |
| TOTAL EQUITY | $295M |
| TOTAL LIABILITIES & EQUITY | $330M |
| Total Debt | $8M |
| Net Debt | -$31M |
