| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $0 | $43.0K | — | 3774.4% |
| Op. Income | -$51M | -$49M | -$28M | -4.9% | -80.7% |
| Gross Margin | 5.3% | — | 100.0% | — | -94.7pp |
| Net Margin | -2629.5% | — | -47453.5% | — | 44824.0pp |
| EPS (Diluted) | $-0.57 | $-0.54 | $-0.30 | -5.6% | -90.0% |
| Free Cash Flow | -$39M | -$28M | -$16M | -39.4% | -144.9% |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $89.0K |
| R&D Expenses | $28M |
| Selling & Marketing | $0 |
| General & Administrative | $23M |
| SG&A Expenses | $23M |
| Other Expenses | $0 |
| Operating Expenses | $51M |
| Cost & Expenses | $53M |
| OPERATING INCOME | -$51M |
| Interest Income | $7M |
| Interest Expense | $0 |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | -$44M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$44M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$44M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$44M |
| D&A | $416.0K |
| EBIT | -$44M |
| EBITDA | -$43M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$44M |
| Depreciation & Amortization | $416.0K |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $40.0K |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$39M |
| Capital Expenditure | -$97.0K |
| Acquisitions (Net) | -$22M |
| Purchases of Investments | -$240M |
| Sales/Maturities of Investments | $251M |
| Other Investing Activities | $26M |
| NET CASH FROM INVESTING | $15M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $5M |
| NET CASH FROM FINANCING | $54M |
| FREE CASH FLOW | -$39M |
| Net Change in Cash | $31M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $45M |
| Short-Term Investments | $635M |
| Net Receivables | $515.0K |
| Inventory | $2M |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $696M |
| PP&E (Net) | $20M |
| Goodwill | $13M |
| Intangible Assets | $2M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $114.0K |
| TOTAL NON-CURRENT ASSETS | $34M |
| TOTAL ASSETS | $730M |
| Account Payables | $9M |
| Short-Term Debt | $0 |
| Deferred Revenue | $259.0K |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $31M |
| Long-Term Debt | $3M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $12M |
| TOTAL LIABILITIES | $42M |
| Common Stock | $8.0K |
| Additional Paid-In Capital | $1.0B |
| Retained Earnings | -$338M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $688M |
| Minority Interest | $0 |
| TOTAL EQUITY | $688M |
| TOTAL LIABILITIES & EQUITY | $730M |
| Total Debt | $7M |
| Net Debt | -$38M |
