| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5M | $6M | $9M | -7.9% | -43.2% |
| Op. Income | -$13M | -$16M | -$12M | 18.7% | -11.9% |
| Gross Margin | 61.8% | 8.6% | 58.2% | 53.2pp | 3.6pp |
| Net Margin | -436.7% | -427.5% | -173.2% | -9.1pp | -263.5pp |
| EPS (Diluted) | $-0.88 | $-1.02 | $-0.73 | 13.8% | -20.1% |
| Free Cash Flow | -$4M | -$999.0K | -$179.0K | -316.3% | -2223.5% |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $3M |
| R&D Expenses | $5M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $9M |
| Other Expenses | $2M |
| Operating Expenses | $16M |
| Cost & Expenses | $18M |
| OPERATING INCOME | -$13M |
| Interest Income | $62.0K |
| Interest Expense | $1M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | -$23M |
| Income Tax Expense | -$3.0K |
| Net Income from Continuing Ops | -$23M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$23M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$23M |
| D&A | $2M |
| EBIT | -$22M |
| EBITDA | -$20M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$23M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $8M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $876.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $469.0K |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | -$743.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $120.0K |
| Short-Term Investments | $0 |
| Net Receivables | $7M |
| Inventory | $3M |
| Other Current Assets | $265.0K |
| TOTAL CURRENT ASSETS | $11M |
| PP&E (Net) | $68M |
| Goodwill | $7M |
| Intangible Assets | $8M |
| Long-Term Investments | $13M |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $104M |
| TOTAL ASSETS | $114M |
| Account Payables | $25M |
| Short-Term Debt | $6M |
| Deferred Revenue | $6M |
| Other Current Liabilities | $25M |
| TOTAL CURRENT LIABILITIES | $65M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $3M |
| Deferred Tax Liabilities | $9.0K |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $69M |
| TOTAL LIABILITIES | $134M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $947M |
| Retained Earnings | -$967M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$20M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$20M |
| TOTAL LIABILITIES & EQUITY | $114M |
| Total Debt | $67M |
| Net Debt | $67M |
