| Metric | Q3 2026 | Q2 2026 | Q3 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $60M | $14M | $0 | 337.7% | — |
| Op. Income | -$13M | -$46M | -$43M | 71.1% | 69.0% |
| Gross Margin | 90.4% | 91.0% | — | -0.6pp | — |
| Net Margin | -9.0% | -361.4% | — | 352.4pp | — |
| EPS (Diluted) | $-0.11 | $-0.92 | $-0.92 | 88.0% | 88.0% |
| Free Cash Flow | $46M | -$33M | -$33M | 239.2% | 238.7% |
| Item | Amount |
|---|---|
| REVENUE | $60M |
| Cost of Revenue | $6M |
| GROSS PROFIT | $54M |
| R&D Expenses | $9M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $61M |
| Other Expenses | -$2M |
| Operating Expenses | $67M |
| Cost & Expenses | $73M |
| OPERATING INCOME | -$13M |
| Interest Income | $3M |
| Interest Expense | $9M |
| Other Income/Expenses | $841.0K |
| INCOME BEFORE TAX | -$12M |
| Income Tax Expense | -$7M |
| Net Income from Continuing Ops | -$5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$5M |
| D&A | $586.5K |
| EBIT | -$13M |
| EBITDA | -$13M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$5M |
| Depreciation & Amortization | $586.5K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $64M |
| Change in Working Capital | -$13M |
| OPERATING CASH FLOW | $45M |
| Capital Expenditure | $156.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $21M |
| Sales/Maturities of Investments | -$23M |
| Other Investing Activities | -$12.0K |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $22.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$2M |
| FREE CASH FLOW | $46M |
| Net Change in Cash | -$243M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $229M |
| Short-Term Investments | $71M |
| Net Receivables | $11M |
| Inventory | $3M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $320M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $803.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $14M |
| TOTAL NON-CURRENT ASSETS | $15M |
| TOTAL ASSETS | $335M |
| Account Payables | $8M |
| Short-Term Debt | $15M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $15M |
| TOTAL CURRENT LIABILITIES | $57M |
| Long-Term Debt | $258M |
| Deferred Revenue NC | $12M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $281M |
| TOTAL LIABILITIES | $338M |
| Common Stock | $51.0K |
| Additional Paid-In Capital | $767M |
| Retained Earnings | -$763M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$3M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$3M |
| TOTAL LIABILITIES & EQUITY | $335M |
| Total Debt | $284M |
| Net Debt | $55M |
