| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $15M | $8M | $8M | 103.2% | 92.1% |
| Op. Income | -$13M | -$20M | -$23M | 37.2% | 43.4% |
| Gross Margin | 86.3% | 63.8% | 56.6% | 22.5pp | 29.7pp |
| Net Margin | -86.6% | -274.3% | -285.2% | 187.7pp | 198.6pp |
| EPS (Diluted) | $-0.16 | $-0.25 | $-0.32 | 36.0% | 50.0% |
| Free Cash Flow | -$20M | -$15M | -$13M | -36.0% | -63.0% |
| Item | Amount |
|---|---|
| REVENUE | $15M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $13M |
| R&D Expenses | $8M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $12M |
| Other Expenses | $6M |
| Operating Expenses | $26M |
| Cost & Expenses | $28M |
| OPERATING INCOME | -$13M |
| Interest Income | $584.0K |
| Interest Expense | $984.0K |
| Other Income/Expenses | -$400.0K |
| INCOME BEFORE TAX | -$13M |
| Income Tax Expense | $10.0K |
| Net Income from Continuing Ops | -$13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$13M |
| D&A | $1M |
| EBIT | -$13M |
| EBITDA | -$12M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$13M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $753.0K |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | -$18M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $3.0K |
| Purchases of Investments | -$14M |
| Sales/Maturities of Investments | $16M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$367.0K |
| Net Debt Issuance | $10M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3.0K |
| NET CASH FROM FINANCING | $27M |
| FREE CASH FLOW | -$20M |
| Net Change in Cash | $8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $27M |
| Short-Term Investments | $40M |
| Net Receivables | $16M |
| Inventory | $2M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $89M |
| PP&E (Net) | $42M |
| Goodwill | $2M |
| Intangible Assets | $0 |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $50M |
| TOTAL ASSETS | $138M |
| Account Payables | $1M |
| Short-Term Debt | $0 |
| Deferred Revenue | $100.0K |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $15M |
| Long-Term Debt | $39M |
| Deferred Revenue NC | $100.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $67M |
| TOTAL LIABILITIES | $83M |
| Common Stock | $9.0K |
| Additional Paid-In Capital | $652M |
| Retained Earnings | -$597M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $56M |
| Minority Interest | $0 |
| TOTAL EQUITY | $56M |
| TOTAL LIABILITIES & EQUITY | $138M |
| Total Debt | $69M |
| Net Debt | $42M |
