| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $11M | $10M | $96M | 16.2% | -88.0% |
| Op. Income | -$39M | -$37M | $52M | -5.3% | -174.4% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 0.0pp | 0.0pp |
| Net Margin | -333.1% | -370.5% | 51.4% | 37.4pp | -384.5pp |
| EPS (Diluted) | $-0.17 | $-0.16 | $0.21 | -6.3% | -181.0% |
| Free Cash Flow | -$47M | -$40M | $116M | -18.5% | -140.5% |
| Item | Amount |
|---|---|
| REVENUE | $11M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $11M |
| R&D Expenses | $42M |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $50M |
| Cost & Expenses | $50M |
| OPERATING INCOME | -$39M |
| Interest Income | $542.0K |
| Interest Expense | $3M |
| Other Income/Expenses | $492.0K |
| INCOME BEFORE TAX | -$38M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$38M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$38M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$38M |
| D&A | $213.0K |
| EBIT | -$36M |
| EBITDA | -$35M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$38M |
| Depreciation & Amortization | $213.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | -$47M |
| Capital Expenditure | -$53.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$76M |
| Sales/Maturities of Investments | $120M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $44M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $94.0K |
| FREE CASH FLOW | -$47M |
| Net Change in Cash | -$3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $26M |
| Short-Term Investments | $187M |
| Net Receivables | $8M |
| Inventory | $0 |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $236M |
| PP&E (Net) | $5M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $383.0K |
| TOTAL NON-CURRENT ASSETS | $5M |
| TOTAL ASSETS | $241M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $23M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $54M |
| Long-Term Debt | $198M |
| Deferred Revenue NC | $31M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $233M |
| TOTAL LIABILITIES | $287M |
| Common Stock | $23.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$46M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$46M |
| TOTAL LIABILITIES & EQUITY | $241M |
| Total Debt | $203M |
| Net Debt | $177M |
