| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $78M | $105M | $137M | -26.0% | -43.1% |
| Op. Income | -$17M | -$36M | -$222M | 53.0% | 92.3% |
| Gross Margin | 59.2% | 66.3% | 68.2% | -7.0pp | -9.0pp |
| Net Margin | -22.5% | -33.9% | -155.7% | 11.5pp | 133.2pp |
| EPS (Diluted) | $-0.16 | $-0.33 | $-2.05 | 51.5% | 92.2% |
| Free Cash Flow | -$943.0K | -$12M | $24M | 92.2% | -104.0% |
| Item | Amount |
|---|---|
| REVENUE | $78M |
| Cost of Revenue | $32M |
| GROSS PROFIT | $46M |
| R&D Expenses | $18M |
| Selling & Marketing | $12M |
| General & Administrative | $33M |
| SG&A Expenses | $45M |
| Other Expenses | $0 |
| Operating Expenses | $63M |
| Cost & Expenses | $95M |
| OPERATING INCOME | -$17M |
| Interest Income | $0 |
| Interest Expense | $41.0K |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | -$16M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$17M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$17M |
| D&A | $15M |
| EBIT | -$16M |
| EBITDA | -$426.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$17M |
| Depreciation & Amortization | $15M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $170.0K |
| Other Non-Cash Items | -$6M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | $5M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $3M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$605.0K |
| NET CASH FROM FINANCING | -$604.0K |
| FREE CASH FLOW | -$943.0K |
| Net Change in Cash | $1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $38M |
| Short-Term Investments | $58M |
| Net Receivables | $15M |
| Inventory | $0 |
| Other Current Assets | $73M |
| TOTAL CURRENT ASSETS | $203M |
| PP&E (Net) | $144M |
| Goodwill | $0 |
| Intangible Assets | $7M |
| Long-Term Investments | $15M |
| Tax Assets | $0 |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $175M |
| TOTAL ASSETS | $378M |
| Account Payables | $9M |
| Short-Term Debt | $63M |
| Deferred Revenue | $32M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $215M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $18M |
| TOTAL LIABILITIES | $232M |
| Common Stock | $109.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$960M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$33M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $146M |
| Minority Interest | $0 |
| TOTAL EQUITY | $146M |
| TOTAL LIABILITIES & EQUITY | $378M |
| Total Debt | $83M |
| Net Debt | $45M |
