Q1 2025 Earnings

Reported April 29, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	Q1 2025	Q4 2024	Q1 2024	QoQ Change	YoY Change
Revenue	$12M	$6M	$7M	89.4%	88.0%
Op. Income	-$22M	-$16M	-$14M	-38.6%	-57.2%
Gross Margin	7.3%	-16.5%	-11.3%	23.9pp	18.6pp
Net Margin	-214.6%	-687.6%	-216.9%	473.0pp	2.3pp
EPS (Diluted)	$-0.34	$-0.57	$-0.18	40.4%	-88.9%

Income Statement

Item	Amount
REVENUE	$12M
Cost of Revenue	$11M
GROSS PROFIT	$901.0K
R&D Expenses	$6M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$17M
Other Expenses	$0
Operating Expenses	$23M
Cost & Expenses	$34M
OPERATING INCOME	-$22M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	-$27M
Income Tax Expense	$33.0K
Net Income from Continuing Ops	-$27M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	-$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	-$26M
D&A	$3M
EBIT	-$25M
EBITDA	-$22M
EPS	-$0
EPS Diluted	-$0