| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | -$204M | $101M | $101M | -301.4% | -301.0% |
| Op. Income | -$286M | $24M | $18M | -1273.7% | -1681.5% |
| Gross Margin | 115.2% | 61.9% | 55.6% | 53.3pp | 59.6pp |
| Net Margin | 109.0% | 20.4% | 17.9% | 88.6pp | 91.0pp |
| EPS (Diluted) | $-4.69 | $0.47 | $0.41 | -1097.9% | -1243.9% |
| Free Cash Flow | $9M | $18M | $31M | -48.1% | -69.7% |
| Item | Amount |
|---|---|
| REVENUE | -$204M |
| Cost of Revenue | $31M |
| GROSS PROFIT | -$235M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $24M |
| SG&A Expenses | $24M |
| Other Expenses | $28M |
| Operating Expenses | $52M |
| Cost & Expenses | $83M |
| OPERATING INCOME | -$286M |
| Interest Income | $93M |
| Interest Expense | $34M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$286M |
| Income Tax Expense | -$64M |
| Net Income from Continuing Ops | -$222M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$222M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$222M |
| D&A | $5M |
| EBIT | -$286M |
| EBITDA | -$281M |
| EPS | -$5 |
| EPS Diluted | -$5 |
| Item | Amount |
|---|---|
| Net Income | -$222M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $318.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $296M |
| Change in Working Capital | -$69M |
| OPERATING CASH FLOW | $11M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$583M |
| Sales/Maturities of Investments | $1.5B |
| Other Investing Activities | $165M |
| NET CASH FROM INVESTING | $1.0B |
| Net Debt Issuance | -$634M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$7M |
| Other Financing Activities | -$89M |
| NET CASH FROM FINANCING | -$731M |
| FREE CASH FLOW | $9M |
| Net Change in Cash | $320M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $458M |
| Short-Term Investments | $526M |
| Net Receivables | $29M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.0B |
| PP&E (Net) | $93M |
| Goodwill | $155M |
| Intangible Assets | $8M |
| Long-Term Investments | $5.1B |
| Tax Assets | $0 |
| Other Non-Current Assets | $310M |
| TOTAL NON-CURRENT ASSETS | $5.7B |
| TOTAL ASSETS | $6.7B |
| Account Payables | $12M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $5.5B |
| TOTAL CURRENT LIABILITIES | $5.5B |
| Long-Term Debt | $459M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $60M |
| TOTAL NON-CURRENT LIABILITIES | $518M |
| TOTAL LIABILITIES | $6.1B |
| Common Stock | $0 |
| Additional Paid-In Capital | $459M |
| Retained Earnings | $236M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$34M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $661M |
| Minority Interest | $0 |
| TOTAL EQUITY | $661M |
| TOTAL LIABILITIES & EQUITY | $6.7B |
| Total Debt | $459M |
| Net Debt | $564.0K |
