| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $67M | $60M | $59M | 12.5% | 15.2% |
| Op. Income | -$95M | -$114M | -$89M | 16.6% | -6.6% |
| Gross Margin | 97.9% | 5.5% | 32.0% | 92.4pp | 65.9pp |
| Net Margin | -135.3% | -186.2% | -142.7% | 51.0pp | 7.4pp |
| EPS (Diluted) | $-0.25 | $-0.33 | $-0.28 | 24.2% | 10.7% |
| Free Cash Flow | -$90M | -$75M | -$61M | -19.5% | -46.2% |
| Item | Amount |
|---|---|
| REVENUE | $67M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $66M |
| R&D Expenses | $75M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $35M |
| Other Expenses | $51M |
| Operating Expenses | $161M |
| Cost & Expenses | $162M |
| OPERATING INCOME | -$95M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | -$94M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | -$91M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$91M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$91M |
| D&A | $9M |
| EBIT | -$94M |
| EBITDA | -$85M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$91M |
| Depreciation & Amortization | $12M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $12M |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | -$79M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$92M |
| Sales/Maturities of Investments | $120M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $17M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$466.0K |
| NET CASH FROM FINANCING | $88M |
| FREE CASH FLOW | -$90M |
| Net Change in Cash | $26M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $158M |
| Short-Term Investments | $143M |
| Net Receivables | $67M |
| Inventory | $52M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $429M |
| PP&E (Net) | $175M |
| Goodwill | $0 |
| Intangible Assets | $285M |
| Long-Term Investments | $6M |
| Tax Assets | $0 |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $476M |
| TOTAL ASSETS | $905M |
| Account Payables | $31M |
| Short-Term Debt | $7M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $59M |
| TOTAL CURRENT LIABILITIES | $126M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $32M |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $77M |
| TOTAL LIABILITIES | $203M |
| Common Stock | $16.0K |
| Additional Paid-In Capital | $3.4B |
| Retained Earnings | -$2.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $16M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $702M |
| Minority Interest | $0 |
| TOTAL EQUITY | $702M |
| TOTAL LIABILITIES & EQUITY | $905M |
| Total Debt | $52M |
| Net Debt | -$106M |
