| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $17M | $11M | $8M | 57.0% | 107.5% |
| Op. Income | -$10M | -$14M | -$17M | 32.4% | 44.3% |
| Gross Margin | 85.5% | 81.1% | 81.0% | 4.4pp | 4.5pp |
| Net Margin | -141.9% | -170.1% | -313.5% | 28.2pp | 171.6pp |
| EPS (Diluted) | $-0.24 | $-0.18 | $-0.28 | -33.3% | 14.3% |
| Free Cash Flow | -$11M | -$18M | $51M | 39.5% | -120.8% |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $14M |
| R&D Expenses | $23M |
| Selling & Marketing | $0 |
| General & Administrative | $2M |
| SG&A Expenses | $2M |
| Other Expenses | -$1M |
| Operating Expenses | $24M |
| Cost & Expenses | $26M |
| OPERATING INCOME | -$10M |
| Interest Income | $2M |
| Interest Expense | $2M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | -$24M |
| Income Tax Expense | -$1.0K |
| Net Income from Continuing Ops | -$24M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$24M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$24M |
| D&A | $5M |
| EBIT | -$22M |
| EBITDA | -$17M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$24M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $19M |
| Change in Working Capital | -$12M |
| OPERATING CASH FLOW | -$10M |
| Capital Expenditure | -$305.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$144M |
| Sales/Maturities of Investments | $92M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$53M |
| Net Debt Issuance | -$4M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$193.0K |
| NET CASH FROM FINANCING | -$4M |
| FREE CASH FLOW | -$11M |
| Net Change in Cash | -$68M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $60M |
| Short-Term Investments | $136M |
| Net Receivables | $29M |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $231M |
| PP&E (Net) | $70M |
| Goodwill | $0 |
| Intangible Assets | $1M |
| Long-Term Investments | $2M |
| Tax Assets | $382.0K |
| Other Non-Current Assets | $50M |
| TOTAL NON-CURRENT ASSETS | $123M |
| TOTAL ASSETS | $354M |
| Account Payables | $18M |
| Short-Term Debt | $5M |
| Deferred Revenue | $113M |
| Other Current Liabilities | $16M |
| TOTAL CURRENT LIABILITIES | $167M |
| Long-Term Debt | $50M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $8M |
| TOTAL NON-CURRENT LIABILITIES | $89M |
| TOTAL LIABILITIES | $257M |
| Common Stock | $6M |
| Additional Paid-In Capital | $434M |
| Retained Earnings | -$308M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$34M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $97M |
| Minority Interest | $0 |
| TOTAL EQUITY | $97M |
| TOTAL LIABILITIES & EQUITY | $354M |
| Total Debt | $95M |
| Net Debt | $35M |
