| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $15M | $14M | $16M | 10.2% | -7.8% |
| Op. Income | $11M | $4M | $6M | 202.2% | 73.0% |
| Gross Margin | 83.5% | 40.1% | 47.8% | 43.4pp | 35.8pp |
| Net Margin | 23.7% | 20.7% | 30.7% | 3.0pp | -7.1pp |
| EPS (Diluted) | $0.10 | $0.08 | $0.14 | 25.2% | -28.6% |
| Free Cash Flow | -$11M | -$7M | $2M | -44.2% | -638.4% |
| Item | Amount |
|---|---|
| REVENUE | $15M |
| Cost of Revenue | $3M |
| GROSS PROFIT | $13M |
| R&D Expenses | $0 |
| Selling & Marketing | $512.0K |
| General & Administrative | $1M |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $4M |
| OPERATING INCOME | $11M |
| Interest Income | $9.9K |
| Interest Expense | $880.1K |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4M |
| D&A | $4M |
| EBIT | $6M |
| EBITDA | $10M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $15M |
| Cost of Revenue | $3M |
| GROSS PROFIT | $13M |
| R&D Expenses | $0 |
| Selling & Marketing | $512.0K |
| General & Administrative | $1M |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $4M |
| OPERATING INCOME | $11M |
| Interest Income | $9.9K |
| Interest Expense | $880.1K |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4M |
| D&A | $4M |
| EBIT | $6M |
| EBITDA | $10M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $4M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $512.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | $7M |
| Capital Expenditure | -$17M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$21M |
| Net Debt Issuance | $16M |
| Common Stock Repurchased | -$1M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$56.0K |
| NET CASH FROM FINANCING | $15M |
| FREE CASH FLOW | -$11M |
| Net Change in Cash | -$179.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3M |
| Short-Term Investments | $941.0K |
| Net Receivables | $10M |
| Inventory | $0 |
| Other Current Assets | $277.0K |
| TOTAL CURRENT ASSETS | $14M |
| PP&E (Net) | $268M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $268M |
| TOTAL ASSETS | $282M |
| Account Payables | $19M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $20M |
| Long-Term Debt | $46M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $12M |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $61M |
| TOTAL LIABILITIES | $81M |
| Common Stock | $294M |
| Additional Paid-In Capital | $27M |
| Retained Earnings | -$120M |
| Treasury Stock | -$41.0K |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $201M |
| Minority Interest | $0 |
| TOTAL EQUITY | $201M |
| TOTAL LIABILITIES & EQUITY | $282M |
| Total Debt | $47M |
| Net Debt | $44M |
