| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $60M | $49M | $31M | 21.5% | 92.7% |
| Op. Income | -$114M | -$121M | -$102M | 6.1% | -11.6% |
| Gross Margin | 5.5% | -0.8% | -0.8% | 6.3pp | 6.3pp |
| Net Margin | -186.2% | -235.5% | -312.2% | 49.3pp | 125.9pp |
| EPS (Diluted) | $-0.33 | $-0.36 | $-0.34 | 8.3% | 2.9% |
| Free Cash Flow | -$75M | -$110M | -$99M | 31.8% | 24.2% |
| Item | Amount |
|---|---|
| REVENUE | $60M |
| Cost of Revenue | $57M |
| GROSS PROFIT | $3M |
| R&D Expenses | $79M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $38M |
| Other Expenses | $0 |
| Operating Expenses | $117M |
| Cost & Expenses | $174M |
| OPERATING INCOME | -$114M |
| Interest Income | $4M |
| Interest Expense | $0 |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | -$110M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$112M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$112M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$112M |
| D&A | $12M |
| EBIT | -$114M |
| EBITDA | -$102M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$112M |
| Depreciation & Amortization | $12M |
| Stock-Based Compensation | $15M |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $6M |
| Change in Working Capital | $9M |
| OPERATING CASH FLOW | -$67M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$69M |
| Sales/Maturities of Investments | $90M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $14M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $165.0K |
| NET CASH FROM FINANCING | $13M |
| FREE CASH FLOW | -$75M |
| Net Change in Cash | -$40M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $132M |
| Short-Term Investments | $169M |
| Net Receivables | $60M |
| Inventory | $50M |
| Other Current Assets | $12M |
| TOTAL CURRENT ASSETS | $423M |
| PP&E (Net) | $172M |
| Goodwill | $0 |
| Intangible Assets | $296M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $16M |
| TOTAL NON-CURRENT ASSETS | $485M |
| TOTAL ASSETS | $907M |
| Account Payables | $32M |
| Short-Term Debt | $1M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $129M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $35M |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $80M |
| TOTAL LIABILITIES | $209M |
| Common Stock | $14.0K |
| Additional Paid-In Capital | $3.3B |
| Retained Earnings | -$2.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $21M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $698M |
| Minority Interest | $0 |
| TOTAL EQUITY | $698M |
| TOTAL LIABILITIES & EQUITY | $907M |
| Total Debt | $53M |
| Net Debt | -$79M |
