| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5M | $4M | $2M | 18.7% | 147.9% |
| Op. Income | $2M | -$3M | -$6M | 170.8% | 133.8% |
| Gross Margin | 49.7% | 71.6% | 51.5% | -21.9pp | -1.9pp |
| Net Margin | 37.1% | 63.4% | -278.9% | -26.3pp | 316.1pp |
| EPS (Diluted) | $0.06 | $0.08 | $-0.04 | -28.4% | 235.4% |
| Free Cash Flow | -$260.3K | -$111.6K | -$449.0K | -133.3% | 42.0% |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $2M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $529.6K |
| SG&A Expenses | $529.6K |
| Other Expenses | $48.6K |
| Operating Expenses | $578.2K |
| Cost & Expenses | $3M |
| OPERATING INCOME | $2M |
| Interest Income | $0 |
| Interest Expense | $38.0K |
| Other Income/Expenses | -$38.0K |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $0 |
| 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 | $48.6K |
| EBIT | $2M |
| EBITDA | $2M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $2M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $529.6K |
| SG&A Expenses | $529.6K |
| Other Expenses | $48.6K |
| Operating Expenses | $578.2K |
| Cost & Expenses | $3M |
| OPERATING INCOME | $2M |
| Interest Income | $0 |
| Interest Expense | $38.0K |
| Other Income/Expenses | -$38.0K |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $0 |
| 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 | $48.6K |
| EBIT | $2M |
| EBITDA | $2M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | $48.6K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $0 |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$267.8K |
| Capital Expenditure | $7.6K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$10.2K |
| NET CASH FROM INVESTING | -$2.6K |
| Net Debt Issuance | $358.7K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $358.7K |
| FREE CASH FLOW | -$260.3K |
| Net Change in Cash | $88.2K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $349.3K |
| Short-Term Investments | $0 |
| Net Receivables | $13M |
| Inventory | $0 |
| Other Current Assets | $100.0K |
| TOTAL CURRENT ASSETS | $13M |
| PP&E (Net) | $15.2K |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $15.2K |
| TOTAL ASSETS | $13M |
| Account Payables | $4M |
| Short-Term Debt | $996.5K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $5M |
| Long-Term Debt | $996.5K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $996.5K |
| TOTAL LIABILITIES | $5M |
| Common Stock | $3.1K |
| Additional Paid-In Capital | $30M |
| Retained Earnings | -$22M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $8M |
| Minority Interest | $0 |
| TOTAL EQUITY | $8M |
| TOTAL LIABILITIES & EQUITY | $13M |
| Total Debt | $996.5K |
| Net Debt | $647.2K |
