| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $10M | $8M | $14M | 14.6% | -32.0% |
| Op. Income | -$127M | -$120M | -$107M | -5.5% | -19.1% |
| Gross Margin | -1031.9% | -1102.0% | -560.6% | 70.1pp | -471.3pp |
| Net Margin | -1162.4% | -1208.3% | -677.5% | 45.9pp | -484.9pp |
| EPS (Diluted) | $-1.10 | $-1.00 | $-1.17 | -10.0% | 6.0% |
| Free Cash Flow | -$86M | -$80M | -$90M | -8.7% | 3.6% |
| Item | Amount |
|---|---|
| REVENUE | $10M |
| Cost of Revenue | $110M |
| GROSS PROFIT | -$100M |
| R&D Expenses | $110M |
| Selling & Marketing | $0 |
| General & Administrative | $27M |
| SG&A Expenses | $27M |
| Other Expenses | -$110M |
| Operating Expenses | $27M |
| Cost & Expenses | $137M |
| OPERATING INCOME | -$127M |
| Interest Income | $11M |
| Interest Expense | $0 |
| Other Income/Expenses | $14M |
| INCOME BEFORE TAX | -$113M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$113M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$113M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$113M |
| D&A | $6M |
| EBIT | -$113M |
| EBITDA | -$107M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$113M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $23M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $10M |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | -$81M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | -$78.0K |
| Purchases of Investments | -$176M |
| Sales/Maturities of Investments | $246M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $66M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$86M |
| Net Change in Cash | -$14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $268M |
| Short-Term Investments | $807M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $205M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $213M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $10M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $124M |
| TOTAL CURRENT LIABILITIES | $183M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $24M |
| TOTAL NON-CURRENT LIABILITIES | $163M |
| TOTAL LIABILITIES | $345M |
| Common Stock | $1M |
| Additional Paid-In Capital | $2.9B |
| Retained Earnings | -$1.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $790.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $966M |
| Minority Interest | $0 |
| TOTAL EQUITY | $966M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $151M |
| Net Debt | -$117M |
