| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $299M | $282M | $250M | 5.8% | 19.3% |
| Op. Income | -$83M | -$96M | -$94M | 13.6% | 11.1% |
| Gross Margin | 74.2% | 73.7% | 74.5% | 0.5pp | -0.3pp |
| Net Margin | -22.3% | -29.0% | -29.6% | 6.8pp | 7.4pp |
| EPS (Diluted) | $-0.19 | $-0.24 | $-0.23 | 20.8% | 17.4% |
| Free Cash Flow | $25M | $17M | $9M | 43.0% | 163.3% |
| Item | Amount |
|---|---|
| REVENUE | $299M |
| Cost of Revenue | $77M |
| GROSS PROFIT | $222M |
| R&D Expenses | $122M |
| Selling & Marketing | $143M |
| General & Administrative | $40M |
| SG&A Expenses | $183M |
| Other Expenses | $0 |
| Operating Expenses | $305M |
| Cost & Expenses | $382M |
| OPERATING INCOME | -$83M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | $18M |
| INCOME BEFORE TAX | -$65M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$67M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$67M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$67M |
| D&A | $8M |
| EBIT | -$65M |
| EBITDA | -$57M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$67M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $101M |
| Deferred Income Tax | $310.0K |
| Other Non-Cash Items | $15M |
| Change in Working Capital | -$27M |
| OPERATING CASH FLOW | $31M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$416M |
| Sales/Maturities of Investments | $375M |
| Other Investing Activities | -$5M |
| NET CASH FROM INVESTING | -$47M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $20M |
| FREE CASH FLOW | $25M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $299M |
| Short-Term Investments | $1.7B |
| Net Receivables | $356M |
| Inventory | $0 |
| Other Current Assets | $153M |
| TOTAL CURRENT ASSETS | $2.5B |
| PP&E (Net) | $95M |
| Goodwill | $164M |
| Intangible Assets | $7M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $112M |
| TOTAL NON-CURRENT ASSETS | $378M |
| TOTAL ASSETS | $2.9B |
| Account Payables | $12M |
| Short-Term Debt | $9M |
| Deferred Revenue | $447M |
| Other Current Liabilities | $154M |
| TOTAL CURRENT LIABILITIES | $623M |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $28M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $8M |
| TOTAL NON-CURRENT LIABILITIES | $1.1B |
| TOTAL LIABILITIES | $1.8B |
| Common Stock | $4.0K |
| Additional Paid-In Capital | $3.3B |
| Retained Earnings | -$2.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $2.9B |
| Total Debt | $1.1B |
| Net Debt | $808M |
