| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $76M | $88M | $91M | -12.9% | -16.2% |
| Op. Income | -$67M | -$186M | -$45M | 64.1% | -49.4% |
| Gross Margin | 92.8% | 81.7% | 78.7% | 11.1pp | 14.1pp |
| Net Margin | -162.0% | -204.6% | 11.5% | 42.6pp | -173.5pp |
| EPS (Diluted) | $-1.88 | $-2.72 | $0.16 | 30.9% | -1250.0% |
| Free Cash Flow | -$132M | -$51M | -$82M | -157.5% | -61.9% |
| Item | Amount |
|---|---|
| REVENUE | $76M |
| Cost of Revenue | $6M |
| GROSS PROFIT | $71M |
| R&D Expenses | $111M |
| Selling & Marketing | -$4M |
| General & Administrative | $26M |
| SG&A Expenses | $22M |
| Other Expenses | $4M |
| Operating Expenses | $138M |
| Cost & Expenses | $143M |
| OPERATING INCOME | -$67M |
| Interest Income | $12M |
| Interest Expense | $0 |
| Other Income/Expenses | -$55M |
| INCOME BEFORE TAX | -$122M |
| Income Tax Expense | $30.4K |
| Net Income from Continuing Ops | -$122M |
| Net Income from Discontinued Ops | -$2M |
| Other Adjustments | $0 |
| NET INCOME | -$124M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$124M |
| D&A | $0 |
| EBIT | -$118M |
| EBITDA | -$118M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$124M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $63M |
| Change in Working Capital | -$67M |
| OPERATING CASH FLOW | -$127M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | -$26M |
| Purchases of Investments | -$2.0B |
| Sales/Maturities of Investments | $2.1B |
| Other Investing Activities | $28M |
| NET CASH FROM INVESTING | $87M |
| Net Debt Issuance | -$701.5K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$701.5K |
| FREE CASH FLOW | -$132M |
| Net Change in Cash | -$43M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $84M |
| Short-Term Investments | $3.5B |
| Net Receivables | $103M |
| Inventory | $40M |
| Other Current Assets | $49M |
| TOTAL CURRENT ASSETS | $3.8B |
| PP&E (Net) | $128M |
| Goodwill | $81M |
| Intangible Assets | $172M |
| Long-Term Investments | $55M |
| Tax Assets | $1M |
| Other Non-Current Assets | $221M |
| TOTAL NON-CURRENT ASSETS | $658M |
| TOTAL ASSETS | $4.5B |
| Account Payables | $156M |
| Short-Term Debt | $0 |
| Deferred Revenue | $269M |
| Other Current Liabilities | $43M |
| TOTAL CURRENT LIABILITIES | $471M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $846M |
| Deferred Tax Liabilities | $21M |
| Other Non-Current Liabilities | $28M |
| TOTAL NON-CURRENT LIABILITIES | $902M |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $344M |
| Additional Paid-In Capital | $3.2B |
| Retained Earnings | -$445M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.1B |
| TOTAL LIABILITIES & EQUITY | $4.5B |
| Total Debt | $10M |
| Net Debt | -$74M |
