| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $9M | $9M | $7M | 6.5% | 38.7% |
| Op. Income | -$920.0K | -$2M | -$2M | 49.3% | 56.2% |
| Gross Margin | 61.4% | 59.7% | 56.8% | 1.7pp | 4.6pp |
| Net Margin | -27.7% | -47.9% | -41.1% | 20.2pp | 13.4pp |
| EPS (Diluted) | $-0.14 | $-0.24 | $-0.16 | 41.7% | 12.5% |
| Free Cash Flow | -$3M | -$2M | -$2M | -19.7% | -11.9% |
| Item | Amount |
|---|---|
| REVENUE | $9M |
| Cost of Revenue | $3M |
| GROSS PROFIT | $6M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $5M |
| Other Expenses | $0 |
| Operating Expenses | $6M |
| Cost & Expenses | $10M |
| OPERATING INCOME | -$920.0K |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $63.0K |
| Net Income from Continuing Ops | -$3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$3M |
| D&A | $385.0K |
| EBIT | -$920.0K |
| EBITDA | -$535.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | $385.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $794.7K |
| Change in Working Capital | -$780.8K |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$427.6K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$13 |
| NET CASH FROM INVESTING | -$427.6K |
| Net Debt Issuance | $4M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$429.0K |
| NET CASH FROM FINANCING | $10M |
| FREE CASH FLOW | -$3M |
| Net Change in Cash | $7M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $11M |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $4M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $18M |
| PP&E (Net) | $17M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $405.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $17M |
| TOTAL ASSETS | $35M |
| Account Payables | $3M |
| Short-Term Debt | $6M |
| Deferred Revenue | $438.0K |
| Other Current Liabilities | $4M |
| TOTAL CURRENT LIABILITIES | $13M |
| Long-Term Debt | $4M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $14M |
| TOTAL LIABILITIES | $27M |
| Common Stock | $113M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$105M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $8M |
| Minority Interest | $0 |
| TOTAL EQUITY | $8M |
| TOTAL LIABILITIES & EQUITY | $35M |
| Total Debt | $20M |
| Net Debt | $9M |
