| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $70M | $75M | $81M | -6.3% | -13.3% |
| Op. Income | -$35M | -$35M | -$31M | -0.0% | -13.0% |
| Gross Margin | 10.3% | 13.7% | 17.7% | -3.4pp | -7.4pp |
| Net Margin | -157.6% | -39.0% | -32.8% | -118.6pp | -124.8pp |
| EPS (Diluted) | $-1.44 | $-0.43 | $-0.41 | -234.9% | -251.2% |
| Free Cash Flow | -$42M | -$35M | -$24M | -18.6% | -73.2% |
| Item | Amount |
|---|---|
| REVENUE | $70M |
| Cost of Revenue | $63M |
| GROSS PROFIT | $7M |
| R&D Expenses | $5M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $37M |
| Other Expenses | $0 |
| Operating Expenses | $42M |
| Cost & Expenses | $105M |
| OPERATING INCOME | -$35M |
| Interest Income | $500.0K |
| Interest Expense | $10M |
| Other Income/Expenses | -$76M |
| INCOME BEFORE TAX | -$111M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$111M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$14.0K |
| NET INCOME | -$111M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$111M |
| D&A | $8M |
| EBIT | -$100M |
| EBITDA | -$93M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$111M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $52M |
| Change in Working Capital | $11M |
| OPERATING CASH FLOW | -$39M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $991.0K |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $59M |
| Common Stock Repurchased | -$73.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | $54M |
| FREE CASH FLOW | -$42M |
| Net Change in Cash | $14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $117M |
| Short-Term Investments | $0 |
| Net Receivables | $28M |
| Inventory | $110M |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $289M |
| PP&E (Net) | $260M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $50M |
| TOTAL NON-CURRENT ASSETS | $311M |
| TOTAL ASSETS | $600M |
| Account Payables | $46M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $64M |
| Long-Term Debt | $1.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $15M |
| TOTAL NON-CURRENT LIABILITIES | $1.3B |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $8.0K |
| Additional Paid-In Capital | $658M |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$784M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$784M |
| TOTAL LIABILITIES & EQUITY | $600M |
| Total Debt | $1.3B |
| Net Debt | $1.2B |
