| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $12M | $10M | $71M | 12.8% | -83.7% |
| Op. Income | -$44M | -$45M | -$6M | 2.5% | -594.1% |
| Gross Margin | 67.8% | 66.9% | 70.7% | 1.0pp | -2.9pp |
| Net Margin | -307.1% | 2903.9% | -15.2% | -3211.0pp | -291.9pp |
| EPS (Diluted) | $-0.30 | $-0.39 | $-0.09 | 23.1% | -221.5% |
| Free Cash Flow | -$46M | -$47M | -$62M | 0.6% | 25.3% |
| Item | Amount |
|---|---|
| REVENUE | $12M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $8M |
| R&D Expenses | $27M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $23M |
| Other Expenses | $2M |
| Operating Expenses | $52M |
| Cost & Expenses | $56M |
| OPERATING INCOME | -$44M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$184.0K |
| INCOME BEFORE TAX | -$45M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$45M |
| Net Income from Discontinued Ops | $9M |
| Other Adjustments | $0 |
| NET INCOME | -$36M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$45M |
| D&A | $966.0K |
| EBIT | -$42M |
| EBITDA | -$41M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$36M |
| Depreciation & Amortization | $966.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$6M |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | -$46M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$69M |
| Sales/Maturities of Investments | $2M |
| Other Investing Activities | -$27.0K |
| NET CASH FROM INVESTING | -$67M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2.0K |
| NET CASH FROM FINANCING | $2.0K |
| FREE CASH FLOW | -$46M |
| Net Change in Cash | -$114M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $103M |
| Short-Term Investments | $88M |
| Net Receivables | $250M |
| Inventory | $2M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $461M |
| PP&E (Net) | $2M |
| Goodwill | $0 |
| Intangible Assets | $49M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $56M |
| TOTAL ASSETS | $517M |
| Account Payables | $25M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $15M |
| TOTAL CURRENT LIABILITIES | $374M |
| Long-Term Debt | $37M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1M |
| Other Non-Current Liabilities | $15M |
| TOTAL NON-CURRENT LIABILITIES | $55M |
| TOTAL LIABILITIES | $429M |
| Common Stock | $12.0K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$1.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$203.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $88M |
| Minority Interest | $0 |
| TOTAL EQUITY | $88M |
| TOTAL LIABILITIES & EQUITY | $517M |
| Total Debt | $41M |
| Net Debt | -$63M |
