| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $58M | $55M | $46M | 5.4% | 26.4% |
| Op. Income | $3M | $6M | $2M | -53.5% | 16.4% |
| Gross Margin | 24.7% | 22.5% | 19.9% | 2.2pp | 4.8pp |
| Net Margin | 3.0% | 9.7% | 4.3% | -6.7pp | -1.2pp |
| EPS (Diluted) | $0.05 | $0.17 | $0.06 | -70.6% | -16.7% |
| Free Cash Flow | -$6M | $7M | -$3M | -184.6% | -81.1% |
| Item | Amount |
|---|---|
| REVENUE | $58M |
| Cost of Revenue | $44M |
| GROSS PROFIT | $14M |
| R&D Expenses | $455.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $7M |
| Other Expenses | $5M |
| Operating Expenses | $12M |
| Cost & Expenses | $56M |
| OPERATING INCOME | $3M |
| Interest Income | $0 |
| Interest Expense | $983.0K |
| Other Income/Expenses | -$802.0K |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $17.0K |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $374.0K |
| EBIT | $3M |
| EBITDA | $3M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $58M |
| Cost of Revenue | $44M |
| GROSS PROFIT | $14M |
| R&D Expenses | $455.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $7M |
| Other Expenses | $5M |
| Operating Expenses | $12M |
| Cost & Expenses | $56M |
| OPERATING INCOME | $3M |
| Interest Income | $0 |
| Interest Expense | $983.0K |
| Other Income/Expenses | -$802.0K |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $17.0K |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $374.0K |
| EBIT | $3M |
| EBITDA | $3M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $2.0K |
| Other Non-Cash Items | $1M |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | -$711.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$711.0K |
| Net Debt Issuance | $5M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$37.0K |
| NET CASH FROM FINANCING | $5M |
| FREE CASH FLOW | -$6M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $0 |
| Net Receivables | $66M |
| Inventory | $12M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $87M |
| PP&E (Net) | $24M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $35.0K |
| Other Non-Current Assets | $61M |
| TOTAL NON-CURRENT ASSETS | $85M |
| TOTAL ASSETS | $172M |
| Account Payables | $36M |
| Short-Term Debt | $5M |
| Deferred Revenue | $878.0K |
| Other Current Liabilities | $398.0K |
| TOTAL CURRENT LIABILITIES | $55M |
| Long-Term Debt | $40M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $46M |
| TOTAL LIABILITIES | $100M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $416M |
| Retained Earnings | -$309M |
| Treasury Stock | -$35M |
| Accum. Other Comp. Income | $96.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $72M |
| Minority Interest | $0 |
| TOTAL EQUITY | $72M |
| TOTAL LIABILITIES & EQUITY | $172M |
| Total Debt | $52M |
| Net Debt | $47M |
