| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $18M | $15M | $15M | 17.5% | 20.5% |
| Op. Income | -$2M | -$3M | -$3M | 46.8% | 47.2% |
| Gross Margin | 67.4% | 60.0% | 63.9% | 7.4pp | 3.5pp |
| Net Margin | -13.1% | -25.3% | -16.3% | 12.2pp | 3.2pp |
| EPS (Diluted) | $-0.09 | $-0.16 | $-0.12 | 43.8% | 25.0% |
| Free Cash Flow | -$2M | -$942.0K | -$1M | -153.0% | -106.0% |
| Item | Amount |
|---|---|
| REVENUE | $18M |
| Cost of Revenue | $6M |
| GROSS PROFIT | $12M |
| R&D Expenses | $287.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $13M |
| Operating Expenses | $13M |
| Cost & Expenses | $19M |
| OPERATING INCOME | -$2M |
| Interest Income | $154.0K |
| Interest Expense | $937.0K |
| Other Income/Expenses | -$786.0K |
| 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 | $1M |
| EBIT | -$1M |
| EBITDA | -$314.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $199.0K |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$75.0K |
| NET CASH FROM FINANCING | $7M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | $5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $25M |
| Short-Term Investments | $0 |
| Net Receivables | $18M |
| Inventory | $12M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $56M |
| PP&E (Net) | $134.0K |
| Goodwill | $0 |
| Intangible Assets | $29M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $29M |
| TOTAL ASSETS | $85M |
| Account Payables | $12M |
| Short-Term Debt | $6M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $826.0K |
| TOTAL CURRENT LIABILITIES | $40M |
| Long-Term Debt | $20M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $20M |
| TOTAL LIABILITIES | $59M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $123M |
| Retained Earnings | -$97M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $26M |
| Minority Interest | $0 |
| TOTAL EQUITY | $26M |
| TOTAL LIABILITIES & EQUITY | $85M |
| Total Debt | $25M |
| Net Debt | $353.0K |
