| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $730.0K | $695.0K | $2M | 5.0% | -70.8% |
| Op. Income | -$64M | -$63M | -$46M | -1.8% | -37.9% |
| Gross Margin | 100.0% | 100.0% | 68.1% | 0.0pp | 31.9pp |
| Net Margin | -7753.4% | -7740.4% | -1434.8% | -13.0pp | -6318.6pp |
| EPS (Diluted) | $-0.85 | $-0.81 | $-0.54 | -4.9% | -57.4% |
| Free Cash Flow | -$45M | -$55M | -$30M | 18.1% | -51.1% |
| Item | Amount |
|---|---|
| REVENUE | $730.0K |
| Cost of Revenue | $0 |
| GROSS PROFIT | $730.0K |
| R&D Expenses | $54M |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $65M |
| Cost & Expenses | $65M |
| OPERATING INCOME | -$64M |
| Interest Income | $7M |
| Interest Expense | $0 |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | -$57M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$57M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$57M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$57M |
| D&A | $873.0K |
| EBIT | -$64M |
| EBITDA | -$63M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$57M |
| Depreciation & Amortization | $873.0K |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | -$44M |
| Capital Expenditure | -$728.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$122M |
| Sales/Maturities of Investments | $173M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $50M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $63.0K |
| FREE CASH FLOW | -$45M |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $23M |
| Short-Term Investments | $607M |
| Net Receivables | $90.0K |
| Inventory | $0 |
| Other Current Assets | $18M |
| TOTAL CURRENT ASSETS | $648M |
| PP&E (Net) | $8M |
| Goodwill | $0 |
| Intangible Assets | $27M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $44M |
| TOTAL ASSETS | $692M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $930.0K |
| TOTAL CURRENT LIABILITIES | $33M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $4M |
| TOTAL LIABILITIES | $37M |
| Common Stock | $66.0K |
| Additional Paid-In Capital | $2.3B |
| Retained Earnings | -$1.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $655M |
| Minority Interest | $0 |
| TOTAL EQUITY | $655M |
| TOTAL LIABILITIES & EQUITY | $692M |
| Total Debt | $3M |
| Net Debt | -$20M |
