| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5M | $24M | $9M | -78.2% | -43.7% |
| Op. Income | -$62M | -$49M | -$35M | -27.4% | -80.1% |
| Gross Margin | 96.9% | 96.7% | 85.2% | 0.2pp | 11.7pp |
| Net Margin | -1114.3% | -184.8% | -325.3% | -929.5pp | -789.0pp |
| EPS (Diluted) | $-0.85 | $-0.65 | $-0.58 | -30.8% | -46.6% |
| Free Cash Flow | -$64M | -$53M | -$21M | -19.5% | -202.7% |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $165.0K |
| GROSS PROFIT | $5M |
| R&D Expenses | $55M |
| Selling & Marketing | $35.0K |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $0 |
| Operating Expenses | $67M |
| Cost & Expenses | $68M |
| OPERATING INCOME | -$62M |
| Interest Income | $3M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$59M |
| Income Tax Expense | $93.0K |
| Net Income from Continuing Ops | -$59M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$59M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$59M |
| D&A | $538.0K |
| EBIT | -$62M |
| EBITDA | -$62M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$59M |
| Depreciation & Amortization | $538.0K |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | -$63M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$54M |
| Sales/Maturities of Investments | $104M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $48M |
| Net Debt Issuance | -$16.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$19.0K |
| NET CASH FROM FINANCING | $238.0K |
| FREE CASH FLOW | -$64M |
| Net Change in Cash | -$14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $71M |
| Short-Term Investments | $185M |
| Net Receivables | $625.0K |
| Inventory | $3M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $265M |
| PP&E (Net) | $21M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $15M |
| TOTAL NON-CURRENT ASSETS | $36M |
| TOTAL ASSETS | $301M |
| Account Payables | $31M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $33M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $148.0K |
| TOTAL NON-CURRENT LIABILITIES | $22M |
| TOTAL LIABILITIES | $55M |
| Common Stock | $69.0K |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | -$978M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $832.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $246M |
| Minority Interest | $0 |
| TOTAL EQUITY | $246M |
| TOTAL LIABILITIES & EQUITY | $301M |
| Total Debt | $22M |
| Net Debt | -$49M |
