| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $7M | $7M | $8M | -1.2% | -7.6% |
| Op. Income | -$2M | -$3M | -$4M | 42.6% | 46.8% |
| Gross Margin | 14.6% | 7.2% | 16.6% | 7.5pp | -1.9pp |
| Net Margin | -53.2% | -64.0% | -62.9% | 10.8pp | 9.6pp |
| EPS (Diluted) | $-0.18 | $-0.21 | $-0.23 | 14.3% | 21.7% |
| Free Cash Flow | -$223.3K | -$2M | -$4M | 89.9% | 94.1% |
| Item | Amount |
|---|---|
| REVENUE | $7M |
| Cost of Revenue | $6M |
| GROSS PROFIT | $1M |
| R&D Expenses | $488.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $3M |
| Other Expenses | -$488.0K |
| Operating Expenses | $3M |
| Cost & Expenses | $9M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $453.2K |
| EBIT | -$2M |
| EBITDA | -$1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $453.2K |
| Stock-Based Compensation | $3.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$9.2K |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | -$190.6K |
| Capital Expenditure | -$32.7K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$32.7K |
| Net Debt Issuance | -$134.4K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $280.0K |
| NET CASH FROM FINANCING | $145.6K |
| FREE CASH FLOW | -$223.3K |
| Net Change in Cash | -$77.7K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $128.9K |
| Short-Term Investments | $0 |
| Net Receivables | $3M |
| Inventory | $6M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $9M |
| PP&E (Net) | $44M |
| Goodwill | $2M |
| Intangible Assets | $383.7K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $169.7K |
| TOTAL NON-CURRENT ASSETS | $47M |
| TOTAL ASSETS | $56M |
| Account Payables | $14M |
| Short-Term Debt | $30M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $64M |
| Long-Term Debt | $3M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1M |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $5M |
| TOTAL LIABILITIES | $69M |
| Common Stock | $0 |
| Additional Paid-In Capital | $90M |
| Retained Earnings | -$103M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$13M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$13M |
| TOTAL LIABILITIES & EQUITY | $56M |
| Total Debt | $35M |
| Net Debt | $34M |
