| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $20M | $22M | $23M | -11.6% | -13.0% |
| Op. Income | -$17M | -$14M | -$13M | -20.7% | -27.2% |
| Gross Margin | 25.2% | 71.9% | 70.5% | -46.7pp | -45.3pp |
| Net Margin | -78.2% | -185.8% | -55.8% | 107.6pp | -22.4pp |
| EPS (Diluted) | $-0.44 | $-1.27 | $-0.66 | 65.4% | 33.3% |
| Free Cash Flow | -$43M | -$11M | -$5M | -292.4% | -815.3% |
| Item | Amount |
|---|---|
| REVENUE | $20M |
| Cost of Revenue | $15M |
| GROSS PROFIT | $5M |
| R&D Expenses | $30.0K |
| Selling & Marketing | $1M |
| General & Administrative | $20M |
| SG&A Expenses | $21M |
| Other Expenses | $575.0K |
| Operating Expenses | $22M |
| Cost & Expenses | $36M |
| OPERATING INCOME | -$17M |
| Interest Income | $1M |
| Interest Expense | $4M |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$15M |
| Income Tax Expense | $39.0K |
| Net Income from Continuing Ops | -$15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$15M |
| D&A | $8M |
| EBIT | -$11M |
| EBITDA | -$3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$15M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$35M |
| Change in Working Capital | -$421.0K |
| OPERATING CASH FLOW | -$39M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$64M |
| Sales/Maturities of Investments | $18M |
| Other Investing Activities | -$11M |
| NET CASH FROM INVESTING | -$61M |
| Net Debt Issuance | $54M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$25.0K |
| NET CASH FROM FINANCING | $106M |
| FREE CASH FLOW | -$43M |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $29M |
| Short-Term Investments | $118M |
| Net Receivables | $40M |
| Inventory | $0 |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $201M |
| PP&E (Net) | $156M |
| Goodwill | $10M |
| Intangible Assets | $5M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $180M |
| TOTAL ASSETS | $381M |
| Account Payables | $12M |
| Short-Term Debt | $6M |
| Deferred Revenue | $22M |
| Other Current Liabilities | $12M |
| TOTAL CURRENT LIABILITIES | $52M |
| Long-Term Debt | $189M |
| Deferred Revenue NC | $14M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $27M |
| TOTAL NON-CURRENT LIABILITIES | $238M |
| TOTAL LIABILITIES | $290M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $817M |
| Retained Earnings | -$726M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $91M |
| Minority Interest | $0 |
| TOTAL EQUITY | $91M |
| TOTAL LIABILITIES & EQUITY | $381M |
| Total Debt | $203M |
| Net Debt | $174M |
