| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $6M | $7M | $12M | -10.7% | -46.2% |
| Op. Income | -$29M | -$29M | -$21M | 2.3% | -32.9% |
| Gross Margin | 100.0% | 100.0% | 83.0% | 0.0pp | 17.0pp |
| Net Margin | -402.6% | -363.7% | -147.6% | -38.9pp | -255.0pp |
| EPS (Diluted) | $-0.37 | $-0.37 | $-0.26 | 0.0% | -42.3% |
| Free Cash Flow | -$12M | -$33M | -$5M | 63.2% | -136.7% |
| Item | Amount |
|---|---|
| REVENUE | $6M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $6M |
| R&D Expenses | $26M |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $35M |
| Cost & Expenses | $35M |
| OPERATING INCOME | -$29M |
| Interest Income | $2M |
| Interest Expense | $0 |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$26M |
| Income Tax Expense | $0 |
| 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 | $615.0K |
| EBIT | -$29M |
| EBITDA | -$28M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$26M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $5M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | -$12M |
| Capital Expenditure | -$185.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$22M |
| Sales/Maturities of Investments | $61M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $39M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | -$12M |
| Net Change in Cash | $27M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $78M |
| Short-Term Investments | $136M |
| Net Receivables | $2M |
| Inventory | $0 |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $225M |
| PP&E (Net) | $60M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $12M |
| Tax Assets | $0 |
| Other Non-Current Assets | $178.0K |
| TOTAL NON-CURRENT ASSETS | $72M |
| TOTAL ASSETS | $297M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $23M |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $44M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $21M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $78M |
| TOTAL LIABILITIES | $122M |
| Common Stock | $7.0K |
| Additional Paid-In Capital | $860M |
| Retained Earnings | -$686M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$30.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $174M |
| Minority Interest | $0 |
| TOTAL EQUITY | $174M |
| TOTAL LIABILITIES & EQUITY | $297M |
| Total Debt | $63M |
| Net Debt | -$15M |
