| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $872.5K | $812.7K | $511.1K | 7.4% | 70.7% |
| Op. Income | -$2M | -$2M | -$3M | -5.2% | 33.8% |
| Gross Margin | 58.4% | 55.4% | 50.1% | 3.1pp | 8.3pp |
| Net Margin | -219.1% | -210.7% | 133.7% | -8.5pp | -352.9pp |
| EPS (Diluted) | $-0.72 | $-0.69 | $-1.06 | -4.3% | 32.1% |
| Free Cash Flow | -$3M | -$794.8K | -$3M | -226.3% | 2.1% |
| Item | Amount |
|---|---|
| REVENUE | $872.5K |
| Cost of Revenue | $362.8K |
| GROSS PROFIT | $509.7K |
| R&D Expenses | $575.3K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $2M |
| Other Expenses | $195.9K |
| Operating Expenses | $2M |
| Cost & Expenses | $3M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $113.4K |
| Other Income/Expenses | -$141.1K |
| 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 | $195.9K |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $195.9K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $448.8K |
| Change in Working Capital | -$754.7K |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$571.2K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$208.0K |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | -$110 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $8M |
| FREE CASH FLOW | -$3M |
| Net Change in Cash | $5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $0 |
| Other Current Assets | $19.8K |
| TOTAL CURRENT ASSETS | $7M |
| PP&E (Net) | $2M |
| Goodwill | $1M |
| Intangible Assets | $192.9K |
| Long-Term Investments | $809.2K |
| Tax Assets | $0 |
| Other Non-Current Assets | $34.0K |
| TOTAL NON-CURRENT ASSETS | $4M |
| TOTAL ASSETS | $11M |
| Account Payables | $130.4K |
| Short-Term Debt | $2M |
| Deferred Revenue | $333.3K |
| Other Current Liabilities | $149.3K |
| TOTAL CURRENT LIABILITIES | $4M |
| Long-Term Debt | $1M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $251.2K |
| TOTAL NON-CURRENT LIABILITIES | $1M |
| TOTAL LIABILITIES | $5M |
| Common Stock | $39.6K |
| Additional Paid-In Capital | $73M |
| Retained Earnings | -$67M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4.1K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6M |
| Minority Interest | $161.4K |
| TOTAL EQUITY | $6M |
| TOTAL LIABILITIES & EQUITY | $11M |
| Total Debt | $3M |
| Net Debt | -$2M |
