| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $265M | $232M | $191M | 14.3% | 38.5% |
| Op. Income | -$99M | -$106M | -$117M | 7.0% | 15.6% |
| Gross Margin | 64.7% | 65.0% | 61.1% | -0.3pp | 3.6pp |
| Net Margin | -35.0% | -43.0% | -56.3% | 8.1pp | 21.3pp |
| EPS (Diluted) | $-0.74 | $-0.80 | $-0.88 | 7.5% | 15.9% |
| Free Cash Flow | -$46M | -$66M | -$55M | 30.6% | 17.2% |
| Item | Amount |
|---|---|
| REVENUE | $265M |
| Cost of Revenue | $94M |
| GROSS PROFIT | $172M |
| R&D Expenses | $90M |
| Selling & Marketing | $127M |
| General & Administrative | $53M |
| SG&A Expenses | $181M |
| Other Expenses | $0 |
| Operating Expenses | $271M |
| Cost & Expenses | $364M |
| OPERATING INCOME | -$99M |
| Interest Income | $7M |
| Interest Expense | $943.0K |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$93M |
| Income Tax Expense | $136.0K |
| Net Income from Continuing Ops | -$93M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$93M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$93M |
| D&A | $9M |
| EBIT | -$92M |
| EBITDA | -$82M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$93M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $43M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $8M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$35M |
| Capital Expenditure | -$10M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$9M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $5M |
| NET CASH FROM INVESTING | -$14M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $610.0K |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | -$46M |
| Net Change in Cash | -$46M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $580M |
| Short-Term Investments | $0 |
| Net Receivables | $116M |
| Inventory | $90M |
| Other Current Assets | $43M |
| TOTAL CURRENT ASSETS | $829M |
| PP&E (Net) | $288M |
| Goodwill | $3M |
| Intangible Assets | $5M |
| Long-Term Investments | $130M |
| Tax Assets | $0 |
| Other Non-Current Assets | $21M |
| TOTAL NON-CURRENT ASSETS | $448M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $20M |
| Short-Term Debt | $26M |
| Deferred Revenue | $47M |
| Other Current Liabilities | $144M |
| TOTAL CURRENT LIABILITIES | $237M |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $94M |
| TOTAL NON-CURRENT LIABILITIES | $1.4B |
| TOTAL LIABILITIES | $1.6B |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $2.6B |
| Retained Earnings | -$2.9B |
| Treasury Stock | -$45M |
| Accum. Other Comp. Income | -$4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$354M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$354M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $1.3B |
| Net Debt | $746M |
