| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $1M | $0 | 66.2% | — |
| Op. Income | -$25M | -$16M | -$15M | -50.6% | -62.2% |
| Gross Margin | 100.0% | 100.0% | — | 0.0pp | — |
| Net Margin | -894.0% | -891.0% | — | -3.0pp | — |
| EPS (Diluted) | $-0.60 | $-0.36 | $-1.80 | -66.7% | 66.7% |
| Free Cash Flow | -$20M | -$18M | -$16M | -13.1% | -27.3% |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $2M |
| R&D Expenses | $20M |
| Selling & Marketing | $0 |
| General & Administrative | $7M |
| SG&A Expenses | $7M |
| Other Expenses | $0 |
| Operating Expenses | $27M |
| Cost & Expenses | $27M |
| OPERATING INCOME | -$25M |
| Interest Income | $3M |
| Interest Expense | $201.0K |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$22M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$22M |
| D&A | $58.0K |
| EBIT | -$21M |
| EBITDA | -$21M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$22M |
| Depreciation & Amortization | $58.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $94.0K |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$20M |
| Capital Expenditure | -$159.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$24M |
| Sales/Maturities of Investments | $9M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$16M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$2M |
| FREE CASH FLOW | -$20M |
| Net Change in Cash | -$37M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $220M |
| Short-Term Investments | $77M |
| Net Receivables | $603.0K |
| Inventory | $0 |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $302M |
| PP&E (Net) | $4M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $16M |
| Tax Assets | $0 |
| Other Non-Current Assets | $237.0K |
| TOTAL NON-CURRENT ASSETS | $20M |
| TOTAL ASSETS | $322M |
| Account Payables | $1M |
| Short-Term Debt | $6M |
| Deferred Revenue | $8M |
| Other Current Liabilities | $911.0K |
| TOTAL CURRENT LIABILITIES | $23M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $2M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $108.0K |
| TOTAL NON-CURRENT LIABILITIES | $5M |
| TOTAL LIABILITIES | $27M |
| Common Stock | $0 |
| Additional Paid-In Capital | $582M |
| Retained Earnings | -$287M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $212.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $295M |
| Minority Interest | $0 |
| TOTAL EQUITY | $295M |
| TOTAL LIABILITIES & EQUITY | $322M |
| Total Debt | $9M |
| Net Debt | -$212M |
