| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | — | $1M | — | 147.8% |
| Op. Income | -$15M | — | -$5M | — | -181.4% |
| Gross Margin | 3.3% | — | 19.3% | — | -16.0pp |
| Net Margin | -1135.5% | — | -434.5% | — | -701.1pp |
| EPS (Diluted) | $-0.33 | — | $-1.39 | — | 76.3% |
| Free Cash Flow | -$10M | — | -$4M | — | -144.7% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $3M |
| GROSS PROFIT | $95.0K |
| R&D Expenses | $5M |
| Selling & Marketing | $2M |
| General & Administrative | $8M |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $15M |
| Cost & Expenses | $18M |
| OPERATING INCOME | -$15M |
| Interest Income | $0 |
| Interest Expense | $864.0K |
| Other Income/Expenses | -$18M |
| INCOME BEFORE TAX | -$33M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$33M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$33M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$33M |
| D&A | $3M |
| EBIT | -$32M |
| EBITDA | -$29M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$33M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $18M |
| Change in Working Capital | -$451.0K |
| OPERATING CASH FLOW | -$10M |
| 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 | -$15M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $11M |
| FREE CASH FLOW | -$10M |
| Net Change in Cash | $1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2M |
| Short-Term Investments | $8M |
| Net Receivables | $1M |
| Inventory | $994.0K |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $17M |
| PP&E (Net) | $1M |
| Goodwill | $0 |
| Intangible Assets | $117M |
| Long-Term Investments | $4M |
| Tax Assets | $0 |
| Other Non-Current Assets | $147.0K |
| TOTAL NON-CURRENT ASSETS | $122M |
| TOTAL ASSETS | $139M |
| Account Payables | $5M |
| Short-Term Debt | $14M |
| Deferred Revenue | $2M |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $24M |
| Long-Term Debt | $14M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9.0K |
| TOTAL NON-CURRENT LIABILITIES | $15M |
| TOTAL LIABILITIES | $39M |
| Common Stock | $22.0K |
| Additional Paid-In Capital | $478M |
| Retained Earnings | -$378M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $100M |
| Minority Interest | $0 |
| TOTAL EQUITY | $100M |
| TOTAL LIABILITIES & EQUITY | $139M |
| Total Debt | $29M |
| Net Debt | $27M |
