| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $12M | $3M | — | 301.8% | — |
| Op. Income | -$66M | -$87M | — | 24.3% | — |
| Gross Margin | 100.0% | -2332.5% | — | 2432.5pp | — |
| Net Margin | -503.7% | -2703.8% | — | 2200.2pp | — |
| EPS (Diluted) | $-0.85 | $-1.14 | — | 25.4% | — |
| Free Cash Flow | -$72M | -$73M | — | 2.0% | — |
| Item | Amount |
|---|---|
| REVENUE | $12M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $12M |
| R&D Expenses | $58M |
| Selling & Marketing | $0 |
| General & Administrative | $19M |
| SG&A Expenses | $19M |
| Other Expenses | -$158.0K |
| Operating Expenses | $77M |
| Cost & Expenses | $77M |
| OPERATING INCOME | -$66M |
| Interest Income | $0 |
| Interest Expense | $44.0K |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | -$59M |
| Income Tax Expense | $205.0K |
| Net Income from Continuing Ops | -$59M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$59M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$59M |
| D&A | $2M |
| EBIT | -$59M |
| EBITDA | -$57M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$59M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | -$46.0K |
| Other Non-Cash Items | $0 |
| Change in Working Capital | -$23M |
| OPERATING CASH FLOW | -$71M |
| Capital Expenditure | -$674.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$674.0K |
| Net Debt Issuance | -$31.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $11 |
| NET CASH FROM FINANCING | -$30.0K |
| FREE CASH FLOW | -$72M |
| Net Change in Cash | -$73M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $648M |
| Short-Term Investments | $0 |
| Net Receivables | $67M |
| Inventory | $0 |
| Other Current Assets | $23M |
| TOTAL CURRENT ASSETS | $739M |
| PP&E (Net) | $11M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $14M |
| TOTAL NON-CURRENT ASSETS | $25M |
| TOTAL ASSETS | $764M |
| Account Payables | $13M |
| Short-Term Debt | $0 |
| Deferred Revenue | $12M |
| Other Current Liabilities | $15M |
| TOTAL CURRENT LIABILITIES | $69M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $74M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $76M |
| TOTAL LIABILITIES | $145M |
| Common Stock | $894.0K |
| Additional Paid-In Capital | $1.5B |
| Retained Earnings | -$880M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $618M |
| Minority Interest | $0 |
| TOTAL EQUITY | $618M |
| TOTAL LIABILITIES & EQUITY | $764M |
| Total Debt | $6M |
| Net Debt | -$643M |
