| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $55M | $56M | $61M | -1.8% | -10.5% |
| Op. Income | -$54M | -$9M | $2M | -469.7% | -2266.5% |
| Gross Margin | -44.1% | 13.0% | 35.5% | -57.1pp | -79.5pp |
| Net Margin | -81.9% | -13.0% | 3.1% | -68.8pp | -85.0pp |
| EPS (Diluted) | $-3.01 | $-0.61 | $0.11 | -393.4% | -2836.4% |
| Free Cash Flow | $29M | -$19M | $5M | 254.6% | 475.7% |
| Item | Amount |
|---|---|
| REVENUE | $55M |
| Cost of Revenue | $79M |
| GROSS PROFIT | -$24M |
| R&D Expenses | $0 |
| Selling & Marketing | $151.0K |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $20M |
| Operating Expenses | $30M |
| Cost & Expenses | $109M |
| OPERATING INCOME | -$54M |
| Interest Income | $54M |
| Interest Expense | $31M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$54M |
| Income Tax Expense | -$9M |
| Net Income from Continuing Ops | -$45M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$45M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$46M |
| D&A | $1M |
| EBIT | -$54M |
| EBITDA | -$53M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$45M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $62M |
| Change in Working Capital | $12M |
| OPERATING CASH FLOW | $29M |
| Capital Expenditure | -$688.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$38M |
| Sales/Maturities of Investments | $64M |
| Other Investing Activities | $111M |
| NET CASH FROM INVESTING | $136M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$151.0K |
| Other Financing Activities | -$126M |
| NET CASH FROM FINANCING | -$126M |
| FREE CASH FLOW | $29M |
| Net Change in Cash | $39M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $754M |
| Short-Term Investments | $352M |
| Net Receivables | $109M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.2B |
| PP&E (Net) | $60M |
| Goodwill | $0 |
| Intangible Assets | $3M |
| Long-Term Investments | $2.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | $75M |
| TOTAL NON-CURRENT ASSETS | $2.6B |
| TOTAL ASSETS | $3.8B |
| Account Payables | $16M |
| Short-Term Debt | $7M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $3.4B |
| TOTAL CURRENT LIABILITIES | $3.4B |
| Long-Term Debt | $179M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $19M |
| TOTAL NON-CURRENT LIABILITIES | $198M |
| TOTAL LIABILITIES | $3.6B |
| Common Stock | $15M |
| Additional Paid-In Capital | $169M |
| Retained Earnings | $12M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$8M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $221M |
| Minority Interest | $0 |
| TOTAL EQUITY | $221M |
| TOTAL LIABILITIES & EQUITY | $3.8B |
| Total Debt | $186M |
| Net Debt | -$568M |
