| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $8M | $7M | $12M | 13.3% | -28.1% |
| Op. Income | -$120M | -$119M | -$105M | -0.7% | -14.5% |
| Gross Margin | -1102.0% | -1222.8% | 100.0% | 120.9pp | -1202.0pp |
| Net Margin | -1208.3% | -1462.8% | -773.5% | 254.5pp | -434.8pp |
| EPS (Diluted) | $-1.00 | $-1.24 | $-1.11 | 19.4% | 9.9% |
| Free Cash Flow | -$80M | -$107M | -$85M | 25.6% | 6.3% |
| Item | Amount |
|---|---|
| REVENUE | $8M |
| Cost of Revenue | $102M |
| GROSS PROFIT | -$93M |
| R&D Expenses | $102M |
| Selling & Marketing | $0 |
| General & Administrative | $27M |
| SG&A Expenses | $27M |
| Other Expenses | -$102M |
| Operating Expenses | $27M |
| Cost & Expenses | $129M |
| OPERATING INCOME | -$120M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $18M |
| INCOME BEFORE TAX | -$102M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$102M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$102M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$102M |
| D&A | $6M |
| EBIT | -$120M |
| EBITDA | -$115M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$102M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $24M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$8M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | -$76M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$334M |
| Sales/Maturities of Investments | $167M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$170M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$80M |
| Net Change in Cash | -$246M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $282M |
| Short-Term Investments | $868M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $25M |
| TOTAL CURRENT ASSETS | $1.2B |
| PP&E (Net) | $208M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $216M |
| TOTAL ASSETS | $1.4B |
| Account Payables | $11M |
| Short-Term Debt | $0 |
| Deferred Revenue | $106M |
| Other Current Liabilities | $18M |
| TOTAL CURRENT LIABILITIES | $174M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $20M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $8M |
| TOTAL NON-CURRENT LIABILITIES | $170M |
| TOTAL LIABILITIES | $344M |
| Common Stock | $1M |
| Additional Paid-In Capital | $2.8B |
| Retained Earnings | -$1.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $10.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.0B |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $155M |
| Net Debt | -$127M |
