| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4M | $163.6K | $0 | 2078.4% | — |
| Op. Income | -$2M | -$6M | -$4M | 70.1% | 56.9% |
| Gross Margin | 99.8% | 95.8% | — | 4.0pp | — |
| Net Margin | -59.4% | -3725.2% | — | 3665.8pp | — |
| EPS (Diluted) | $-0.13 | $-0.36 | $-0.26 | 63.9% | 50.0% |
| Free Cash Flow | -$1M | -$6M | -$5M | 80.4% | 79.3% |
| Item | Amount |
|---|---|
| REVENUE | $4M |
| Cost of Revenue | $6.8K |
| GROSS PROFIT | $4M |
| R&D Expenses | $3M |
| Selling & Marketing | $0 |
| General & Administrative | $3M |
| SG&A Expenses | $3M |
| Other Expenses | $0 |
| Operating Expenses | $5M |
| Cost & Expenses | $5M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$198.9K |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $6.8K |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $6.8K |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $516.0K |
| Change in Working Capital | -$608.5K |
| OPERATING CASH FLOW | -$1M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$516.0K |
| NET CASH FROM INVESTING | -$516.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $19.1K |
| FREE CASH FLOW | -$1M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $28M |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $32M |
| PP&E (Net) | $18.1K |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $18.1K |
| TOTAL ASSETS | $32M |
| Account Payables | $1M |
| Short-Term Debt | $0 |
| Deferred Revenue | $916.7K |
| Other Current Liabilities | $692.9K |
| TOTAL CURRENT LIABILITIES | $4M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $1M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $1M |
| TOTAL LIABILITIES | $5M |
| Common Stock | $1.7K |
| Additional Paid-In Capital | $84M |
| Retained Earnings | -$56M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $27M |
| Minority Interest | $0 |
| TOTAL EQUITY | $27M |
| TOTAL LIABILITIES & EQUITY | $32M |
| Total Debt | $0 |
| Net Debt | -$28M |
