| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $9M | $15M | $13M | -43.9% | -33.0% |
| Op. Income | -$19M | -$13M | -$17M | -47.3% | -14.4% |
| Gross Margin | 71.3% | 86.3% | 66.4% | -15.0pp | 5.0pp |
| Net Margin | -228.1% | -86.6% | -160.8% | -141.5pp | -67.2pp |
| EPS (Diluted) | $-0.22 | $-0.16 | $-0.29 | -37.5% | 24.1% |
| Free Cash Flow | -$8M | -$20M | -$14M | 61.5% | 43.6% |
| Item | Amount |
|---|---|
| REVENUE | $9M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $6M |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $11M |
| Other Expenses | $12M |
| Operating Expenses | $25M |
| Cost & Expenses | $28M |
| OPERATING INCOME | -$19M |
| Interest Income | $634.0K |
| Interest Expense | $1M |
| Other Income/Expenses | -$658.0K |
| INCOME BEFORE TAX | -$20M |
| Income Tax Expense | $8.0K |
| Net Income from Continuing Ops | -$20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$20M |
| D&A | $2M |
| EBIT | -$18M |
| EBITDA | -$16M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$20M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | -$8M |
| Capital Expenditure | -$182.0K |
| Acquisitions (Net) | $1.0K |
| Purchases of Investments | -$18M |
| Sales/Maturities of Investments | $24M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $6M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$111.0K |
| FREE CASH FLOW | -$8M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $26M |
| Short-Term Investments | $33M |
| Net Receivables | $10M |
| Inventory | $2M |
| Other Current Assets | $500.0K |
| TOTAL CURRENT ASSETS | $76M |
| PP&E (Net) | $41M |
| Goodwill | $2M |
| Intangible Assets | $0 |
| Long-Term Investments | $4M |
| Tax Assets | $0 |
| Other Non-Current Assets | $512.0K |
| TOTAL NON-CURRENT ASSETS | $48M |
| TOTAL ASSETS | $124M |
| Account Payables | $2M |
| Short-Term Debt | $3M |
| Deferred Revenue | $296.0K |
| Other Current Liabilities | $3M |
| TOTAL CURRENT LIABILITIES | $18M |
| Long-Term Debt | $40M |
| Deferred Revenue NC | $100.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $67M |
| TOTAL LIABILITIES | $85M |
| Common Stock | $9.0K |
| Additional Paid-In Capital | $655M |
| Retained Earnings | -$616M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $12.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $39M |
| Minority Interest | $0 |
| TOTAL EQUITY | $39M |
| TOTAL LIABILITIES & EQUITY | $124M |
| Total Debt | $69M |
| Net Debt | $43M |
