| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $17M | $15M | $12M | 16.0% | 37.9% |
| Op. Income | -$2M | -$3M | -$2M | 31.2% | 18.8% |
| Gross Margin | 15.2% | 7.9% | 9.7% | 7.3pp | 5.5pp |
| Net Margin | -31.3% | -19.2% | -17.6% | -12.1pp | -13.7pp |
| EPS (Diluted) | $-0.17 | $-0.10 | $-0.45 | -72.8% | 62.2% |
| Free Cash Flow | -$4M | -$1M | $511.0K | -199.9% | -879.6% |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $15M |
| GROSS PROFIT | $3M |
| R&D Expenses | $18.3K |
| Selling & Marketing | $64.8K |
| General & Administrative | $2M |
| SG&A Expenses | $2M |
| Other Expenses | $2M |
| Operating Expenses | $4M |
| Cost & Expenses | $19M |
| OPERATING INCOME | -$2M |
| Interest Income | $100.7K |
| Interest Expense | $669.1K |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$5M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$5M |
| D&A | $377.9K |
| EBIT | -$5M |
| EBITDA | -$4M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$5M |
| Depreciation & Amortization | $377.9K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $18 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$846.2K |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | -$12.7K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $2.4K |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $8M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $9M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $889.4K |
| Short-Term Investments | $33.2K |
| Net Receivables | $20M |
| Inventory | $6M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $38M |
| PP&E (Net) | $11M |
| Goodwill | $0 |
| Intangible Assets | $8M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $12M |
| TOTAL NON-CURRENT ASSETS | $31M |
| TOTAL ASSETS | $69M |
| Account Payables | $15M |
| Short-Term Debt | $15M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $8M |
| TOTAL CURRENT LIABILITIES | $39M |
| Long-Term Debt | $6M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $8M |
| TOTAL LIABILITIES | $46M |
| Common Stock | $32.0K |
| Additional Paid-In Capital | $146M |
| Retained Earnings | -$123M |
| Treasury Stock | -$917.2K |
| Accum. Other Comp. Income | $714.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $23M |
| Minority Interest | $0 |
| TOTAL EQUITY | $23M |
| TOTAL LIABILITIES & EQUITY | $69M |
| Total Debt | $21M |
| Net Debt | $20M |
