| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $37M | $35M | $27M | 6.4% | 38.6% |
| Op. Income | -$18M | -$16M | -$16M | -9.0% | -9.0% |
| Gross Margin | 75.1% | 75.0% | 72.4% | 0.1pp | 2.7pp |
| Net Margin | -86.9% | -94.3% | -78.0% | 7.3pp | -9.0pp |
| EPS (Diluted) | $-0.40 | $-0.52 | $-0.33 | 23.1% | -21.2% |
| Free Cash Flow | -$14M | -$14M | -$24M | 0.7% | 40.3% |
| Item | Amount |
|---|---|
| REVENUE | $37M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $28M |
| R&D Expenses | $14M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $32M |
| Other Expenses | $0 |
| Operating Expenses | $45M |
| Cost & Expenses | $55M |
| OPERATING INCOME | -$18M |
| Interest Income | $543.0K |
| Interest Expense | $5M |
| Other Income/Expenses | -$15M |
| INCOME BEFORE TAX | -$32M |
| Income Tax Expense | -$296.0K |
| Net Income from Continuing Ops | -$32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$32M |
| D&A | $2M |
| EBIT | -$27M |
| EBITDA | -$25M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$32M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $12M |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$13M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $74M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$938.0K |
| NET CASH FROM FINANCING | $73M |
| FREE CASH FLOW | -$14M |
| Net Change in Cash | $58M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $110M |
| Short-Term Investments | $0 |
| Net Receivables | $31M |
| Inventory | $0 |
| Other Current Assets | $455.0K |
| TOTAL CURRENT ASSETS | $145M |
| PP&E (Net) | $20M |
| Goodwill | $0 |
| Intangible Assets | $8M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $13M |
| TOTAL NON-CURRENT ASSETS | $40M |
| TOTAL ASSETS | $184M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $3M |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $43M |
| Long-Term Debt | $180M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $832M |
| TOTAL NON-CURRENT LIABILITIES | $1.0B |
| TOTAL LIABILITIES | $1.1B |
| Common Stock | $6.0K |
| Additional Paid-In Capital | $115M |
| Retained Earnings | -$1.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$889M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$889M |
| TOTAL LIABILITIES & EQUITY | $184M |
| Total Debt | $203M |
| Net Debt | $93M |
