| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $58M | $85M | $86M | -31.8% | -32.3% |
| Op. Income | -$55M | -$2M | $8M | -2830.8% | -816.7% |
| Gross Margin | -53.4% | 21.7% | 33.8% | -75.1pp | -87.2pp |
| Net Margin | -71.8% | 0.2% | 8.2% | -72.1pp | -80.0pp |
| EPS (Diluted) | $-4.76 | $0.02 | $0.80 | -21736.4% | -695.0% |
| Free Cash Flow | $37M | -$91M | -$270.0K | 140.7% | 13791.5% |
| Item | Amount |
|---|---|
| REVENUE | $58M |
| Cost of Revenue | $89M |
| GROSS PROFIT | -$31M |
| R&D Expenses | $0 |
| Selling & Marketing | $482.0K |
| General & Administrative | $16M |
| SG&A Expenses | $16M |
| Other Expenses | $7M |
| Operating Expenses | $24M |
| Cost & Expenses | $112M |
| OPERATING INCOME | -$55M |
| Interest Income | $84M |
| Interest Expense | $54M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$55M |
| Income Tax Expense | -$13M |
| Net Income from Continuing Ops | -$42M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$42M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$42M |
| D&A | $2M |
| EBIT | -$55M |
| EBITDA | -$52M |
| EPS | -$5 |
| EPS Diluted | -$5 |
| Item | Amount |
|---|---|
| Net Income | -$42M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $490.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $79M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $37M |
| Capital Expenditure | -$106.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$10M |
| Sales/Maturities of Investments | $42M |
| Other Investing Activities | $671M |
| NET CASH FROM INVESTING | $703M |
| Net Debt Issuance | -$15M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$517.0K |
| Other Financing Activities | -$383M |
| NET CASH FROM FINANCING | -$399M |
| FREE CASH FLOW | $37M |
| Net Change in Cash | $341M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $788M |
| Short-Term Investments | $471M |
| Net Receivables | $134M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.4B |
| PP&E (Net) | $69M |
| Goodwill | $5M |
| Intangible Assets | $0 |
| Long-Term Investments | $4.0B |
| Tax Assets | $0 |
| Other Non-Current Assets | $179M |
| TOTAL NON-CURRENT ASSETS | $4.2B |
| TOTAL ASSETS | $5.6B |
| Account Payables | $1M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $4.9B |
| TOTAL CURRENT LIABILITIES | $4.9B |
| Long-Term Debt | $355M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $15M |
| TOTAL NON-CURRENT LIABILITIES | $370M |
| TOTAL LIABILITIES | $5.3B |
| Common Stock | $187M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $189M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$23M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $352M |
| Minority Interest | $0 |
| TOTAL EQUITY | $352M |
| TOTAL LIABILITIES & EQUITY | $5.6B |
| Total Debt | $355M |
| Net Debt | -$433M |
