| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $83M | $76M | $70M | 9.0% | 18.9% |
| Op. Income | -$288M | -$67M | -$63M | -332.1% | -353.8% |
| Gross Margin | 84.8% | 92.8% | 100.0% | -8.0pp | -15.2pp |
| Net Margin | -284.0% | -162.0% | -84.3% | -122.0pp | -199.8pp |
| EPS (Diluted) | $-3.62 | $-1.88 | $-0.87 | -92.5% | -318.9% |
| Free Cash Flow | -$77M | -$132M | -$89M | 42.0% | 14.0% |
| Item | Amount |
|---|---|
| REVENUE | $83M |
| Cost of Revenue | $13M |
| GROSS PROFIT | $71M |
| R&D Expenses | $86M |
| Selling & Marketing | $3M |
| General & Administrative | $37M |
| SG&A Expenses | $40M |
| Other Expenses | $232M |
| Operating Expenses | $359M |
| Cost & Expenses | $371M |
| OPERATING INCOME | -$288M |
| Interest Income | $0 |
| Interest Expense | $27M |
| Other Income/Expenses | $29M |
| INCOME BEFORE TAX | -$259M |
| Income Tax Expense | -$20M |
| Net Income from Continuing Ops | -$239M |
| Net Income from Discontinued Ops | $2M |
| Other Adjustments | $0 |
| NET INCOME | -$236M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$239M |
| D&A | $10M |
| EBIT | -$231M |
| EBITDA | -$222M |
| EPS | -$4 |
| EPS Diluted | -$4 |
| Item | Amount |
|---|---|
| Net Income | -$236M |
| Depreciation & Amortization | -$43M |
| Stock-Based Compensation | -$15M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $221M |
| Change in Working Capital | -$228.0K |
| OPERATING CASH FLOW | -$73M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $70M |
| NET CASH FROM INVESTING | $66M |
| Net Debt Issuance | -$1M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | -$77M |
| Net Change in Cash | -$8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $89M |
| Short-Term Investments | $4.1B |
| Net Receivables | $107M |
| Inventory | $32M |
| Other Current Assets | $16M |
| TOTAL CURRENT ASSETS | $4.3B |
| PP&E (Net) | $145M |
| Goodwill | $0 |
| Intangible Assets | $10M |
| Long-Term Investments | $321M |
| Tax Assets | $1M |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $481M |
| TOTAL ASSETS | $4.8B |
| Account Payables | $138M |
| Short-Term Debt | $2M |
| Deferred Revenue | $316M |
| Other Current Liabilities | $46M |
| TOTAL CURRENT LIABILITIES | $504M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $915M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $36M |
| TOTAL NON-CURRENT LIABILITIES | $959M |
| TOTAL LIABILITIES | $1.5B |
| Common Stock | $404M |
| Additional Paid-In Capital | $3.8B |
| Retained Earnings | -$794M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$9M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.4B |
| TOTAL LIABILITIES & EQUITY | $4.8B |
| Total Debt | $10M |
| Net Debt | -$78M |
