| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $54M | $61M | $58M | -11.4% | -7.8% |
| Op. Income | -$42M | -$23M | -$43M | -80.2% | 3.9% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 0.0pp | 0.0pp |
| Net Margin | -58.8% | -28.6% | -72.7% | -30.2pp | 13.9pp |
| EPS (Diluted) | $-1.46 | $-0.98 | $-1.83 | -49.0% | 20.2% |
| Free Cash Flow | -$29M | -$47M | -$33M | 38.5% | 13.6% |
| Item | Amount |
|---|---|
| REVENUE | $54M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $54M |
| R&D Expenses | $0 |
| Selling & Marketing | $24M |
| General & Administrative | $22M |
| SG&A Expenses | $46M |
| Other Expenses | $49M |
| Operating Expenses | $95M |
| Cost & Expenses | $95M |
| OPERATING INCOME | -$42M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | -$43M |
| Income Tax Expense | -$11M |
| Net Income from Continuing Ops | -$32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$45M |
| D&A | $3M |
| EBIT | -$41M |
| EBITDA | -$37M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$32M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | -$12M |
| Other Non-Cash Items | $496.0K |
| Change in Working Capital | $11M |
| OPERATING CASH FLOW | -$25M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$12M |
| Sales/Maturities of Investments | $39M |
| Other Investing Activities | -$3M |
| NET CASH FROM INVESTING | $24M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$276.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | -$3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $63M |
| Short-Term Investments | $12M |
| Net Receivables | $210M |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $303M |
| PP&E (Net) | $14M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $730M |
| TOTAL NON-CURRENT ASSETS | $745M |
| TOTAL ASSETS | $1.0B |
| Account Payables | $6M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $32M |
| TOTAL CURRENT LIABILITIES | $51M |
| Long-Term Debt | $69M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $22M |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $112M |
| TOTAL LIABILITIES | $163M |
| Common Stock | $44.0K |
| Additional Paid-In Capital | $758M |
| Retained Earnings | -$44M |
| Treasury Stock | -$200M |
| Accum. Other Comp. Income | -$178.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $884M |
| Minority Interest | $0 |
| TOTAL EQUITY | $884M |
| TOTAL LIABILITIES & EQUITY | $1.0B |
| Total Debt | $93M |
| Net Debt | $30M |
