| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $36M | $18M | $72M | 103.4% | -50.7% |
| Op. Income | -$12M | -$19M | $5M | 36.7% | -318.8% |
| Gross Margin | -24.6% | -83.0% | 12.0% | 58.5pp | -36.5pp |
| Net Margin | -29.2% | -100.6% | 13.2% | 71.4pp | -42.4pp |
| EPS (Diluted) | $-0.24 | $-0.40 | $0.22 | 40.0% | -209.1% |
| Free Cash Flow | -$263.0K | -$9M | $25M | 97.2% | -101.1% |
| Item | Amount |
|---|---|
| REVENUE | $36M |
| Cost of Revenue | $44M |
| GROSS PROFIT | -$9M |
| R&D Expenses | $933.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $3M |
| Cost & Expenses | $48M |
| OPERATING INCOME | -$12M |
| Interest Income | $1M |
| Interest Expense | $26.0K |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$10M |
| Income Tax Expense | $35.0K |
| Net Income from Continuing Ops | -$10M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$10M |
| D&A | $2M |
| EBIT | -$10M |
| EBITDA | -$8M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$10M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $236.0K |
| Deferred Income Tax | $28.0K |
| Other Non-Cash Items | -$516.0K |
| Change in Working Capital | $13M |
| OPERATING CASH FLOW | $5M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $972.0K |
| NET CASH FROM INVESTING | -$5M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$3M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | -$263.0K |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $95M |
| Short-Term Investments | $0 |
| Net Receivables | $11M |
| Inventory | $10M |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $129M |
| PP&E (Net) | $85M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $89M |
| TOTAL ASSETS | $218M |
| Account Payables | $9M |
| Short-Term Debt | $0 |
| Deferred Revenue | $1M |
| Other Current Liabilities | $3M |
| TOTAL CURRENT LIABILITIES | $31M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $6M |
| Deferred Tax Liabilities | $801.0K |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $9M |
| TOTAL LIABILITIES | $40M |
| Common Stock | $4.0K |
| Additional Paid-In Capital | $206M |
| Retained Earnings | -$28M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $178M |
| Minority Interest | $0 |
| TOTAL EQUITY | $178M |
| TOTAL LIABILITIES & EQUITY | $218M |
| Total Debt | $0 |
| Net Debt | -$95M |
