| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $12M | $2M | $781.0K | 498.7% | 1419.5% |
| Op. Income | -$23M | -$22M | -$11M | -3.2% | -98.7% |
| Gross Margin | 11.9% | 59.4% | 39.1% | -47.5pp | -27.2pp |
| Net Margin | -221.3% | -1492.9% | -3278.7% | 1271.6pp | 3057.5pp |
| EPS (Diluted) | $-0.25 | $-0.28 | $-0.25 | 10.7% | 0.0% |
| Free Cash Flow | -$25M | -$16M | -$15M | -51.6% | -63.6% |
| Item | Amount |
|---|---|
| REVENUE | $12M |
| Cost of Revenue | $10M |
| GROSS PROFIT | $1M |
| R&D Expenses | $10M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $14M |
| Other Expenses | $0 |
| Operating Expenses | $24M |
| Cost & Expenses | $34M |
| OPERATING INCOME | -$23M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$26M |
| Income Tax Expense | $21.0K |
| Net Income from Continuing Ops | -$26M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$26M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$26M |
| D&A | $364.0K |
| EBIT | -$26M |
| EBITDA | -$26M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$26M |
| Depreciation & Amortization | $364.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $977.0K |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | -$25M |
| Capital Expenditure | -$26.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$26.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $303.0K |
| NET CASH FROM FINANCING | $20M |
| FREE CASH FLOW | -$25M |
| Net Change in Cash | -$5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $24M |
| Short-Term Investments | $0 |
| Net Receivables | $14M |
| Inventory | $9M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $55M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $263.0K |
| Tax Assets | $2M |
| Other Non-Current Assets | $739.0K |
| TOTAL NON-CURRENT ASSETS | $6M |
| TOTAL ASSETS | $61M |
| Account Payables | $11M |
| Short-Term Debt | $2M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $18M |
| TOTAL CURRENT LIABILITIES | $37M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $22M |
| TOTAL NON-CURRENT LIABILITIES | $23M |
| TOTAL LIABILITIES | $60M |
| Common Stock | $11.0K |
| Additional Paid-In Capital | $634M |
| Retained Earnings | -$633M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1M |
| Minority Interest | $0 |
| TOTAL EQUITY | $1M |
| TOTAL LIABILITIES & EQUITY | $61M |
| Total Debt | $3M |
| Net Debt | -$21M |
