| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $29M | $31M | $36M | -4.9% | -19.2% |
| Op. Income | -$4M | -$4M | -$859.0K | -0.8% | -359.1% |
| Gross Margin | 29.1% | 35.0% | 33.8% | -5.9pp | -4.7pp |
| Net Margin | -21.1% | -15.3% | -8.4% | -5.8pp | -12.6pp |
| EPS (Diluted) | $-11.28 | $-9.18 | $-10.32 | -22.9% | -9.3% |
| Free Cash Flow | $1M | $2M | $5M | -16.5% | -75.8% |
| Item | Amount |
|---|---|
| REVENUE | $29M |
| Cost of Revenue | $21M |
| GROSS PROFIT | $9M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $3M |
| Operating Expenses | $12M |
| Cost & Expenses | $33M |
| OPERATING INCOME | -$4M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$6M |
| Income Tax Expense | -$261.0K |
| Net Income from Continuing Ops | -$6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$7M |
| D&A | $3M |
| EBIT | -$4M |
| EBITDA | -$1M |
| EPS | -$11 |
| EPS Diluted | -$11 |
| Item | Amount |
|---|---|
| Net Income | -$6M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $111.0K |
| Deferred Income Tax | $7.0K |
| Other Non-Cash Items | $176.0K |
| Change in Working Capital | $5M |
| OPERATING CASH FLOW | $1M |
| Capital Expenditure | $1.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $1.0K |
| Net Debt Issuance | -$3M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | $1M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $12M |
| Short-Term Investments | $0 |
| Net Receivables | $20M |
| Inventory | $26M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $70M |
| PP&E (Net) | $9M |
| Goodwill | $0 |
| Intangible Assets | $20M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $754.0K |
| TOTAL NON-CURRENT ASSETS | $30M |
| TOTAL ASSETS | $100M |
| Account Payables | $16M |
| Short-Term Debt | $37M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $14M |
| TOTAL CURRENT LIABILITIES | $68M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $15M |
| Deferred Tax Liabilities | $877.0K |
| Other Non-Current Liabilities | $155.0K |
| TOTAL NON-CURRENT LIABILITIES | $22M |
| TOTAL LIABILITIES | $91M |
| Common Stock | $0 |
| Additional Paid-In Capital | $126M |
| Retained Earnings | -$147M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $9M |
| Minority Interest | $0 |
| TOTAL EQUITY | $9M |
| TOTAL LIABILITIES & EQUITY | $100M |
| Total Debt | $44M |
| Net Debt | $33M |
