| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $12M | $10M | $7M | 29.1% | 78.7% |
| Op. Income | -$189.0K | -$3M | -$5M | 93.1% | 96.4% |
| Gross Margin | 94.7% | 90.0% | 80.5% | 4.7pp | 14.2pp |
| Net Margin | -5.1% | -32.7% | -82.2% | 27.5pp | 77.1pp |
| EPS (Diluted) | $-0.02 | $-0.12 | $-0.21 | 80.9% | 89.1% |
| Free Cash Flow | $1M | -$4M | -$2M | 140.5% | 167.7% |
| Item | Amount |
|---|---|
| REVENUE | $12M |
| Cost of Revenue | $660.0K |
| GROSS PROFIT | $12M |
| R&D Expenses | $29.0K |
| Selling & Marketing | $5M |
| General & Administrative | $7M |
| SG&A Expenses | $12M |
| Other Expenses | $0 |
| Operating Expenses | $12M |
| Cost & Expenses | $13M |
| OPERATING INCOME | -$189.0K |
| Interest Income | $152.0K |
| Interest Expense | $586.0K |
| Other Income/Expenses | -$449.0K |
| INCOME BEFORE TAX | -$638.0K |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$638.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$638.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$638.0K |
| D&A | $51.0K |
| EBIT | -$52.0K |
| EBITDA | -$1.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$637.0K |
| Depreciation & Amortization | $51.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$7M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | $1M |
| 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 | $2M |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | $1M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $22M |
| Short-Term Investments | $0 |
| Net Receivables | $19M |
| Inventory | $2M |
| Other Current Assets | $897.1K |
| TOTAL CURRENT ASSETS | $46M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $742.3K |
| TOTAL NON-CURRENT ASSETS | $3M |
| TOTAL ASSETS | $49M |
| Account Payables | $6M |
| Short-Term Debt | $0 |
| Deferred Revenue | $247.8K |
| Other Current Liabilities | $4M |
| TOTAL CURRENT LIABILITIES | $10M |
| Long-Term Debt | $18M |
| Deferred Revenue NC | $25M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $44M |
| TOTAL LIABILITIES | $54M |
| Common Stock | $148M |
| Additional Paid-In Capital | $71M |
| Retained Earnings | -$224M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$4M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$4M |
| TOTAL LIABILITIES & EQUITY | $49M |
| Total Debt | $18M |
| Net Debt | -$4M |
