| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $30M | $31M | $33M | -1.7% | -9.4% |
| Op. Income | -$33M | -$31M | -$34M | -6.3% | 1.5% |
| Gross Margin | 95.7% | 95.6% | 94.0% | 0.0pp | 1.7pp |
| Net Margin | -78.2% | -100.8% | -112.8% | 22.6pp | 34.6pp |
| EPS (Diluted) | $-2.77 | $-3.67 | $-4.85 | 24.5% | 42.9% |
| Free Cash Flow | -$39M | -$26M | -$44M | -51.4% | 11.2% |
| Item | Amount |
|---|---|
| REVENUE | $30M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $29M |
| R&D Expenses | $35M |
| Selling & Marketing | $0 |
| General & Administrative | $27M |
| SG&A Expenses | $27M |
| Other Expenses | $0 |
| Operating Expenses | $62M |
| Cost & Expenses | $63M |
| OPERATING INCOME | -$33M |
| Interest Income | $1M |
| Interest Expense | $11M |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | -$23M |
| Income Tax Expense | $36.0K |
| Net Income from Continuing Ops | -$23M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$23M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$23M |
| D&A | $78.0K |
| EBIT | -$12M |
| EBITDA | -$12M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$23M |
| Depreciation & Amortization | $78.0K |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$18M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$39M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $15M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $15M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | -$39M |
| Net Change in Cash | -$24M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $39M |
| Short-Term Investments | $31M |
| Net Receivables | $35M |
| Inventory | $5M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $120M |
| PP&E (Net) | $6M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $7M |
| TOTAL ASSETS | $128M |
| Account Payables | $6M |
| Short-Term Debt | $24M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $90M |
| Long-Term Debt | $155M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $82M |
| TOTAL NON-CURRENT LIABILITIES | $243M |
| TOTAL LIABILITIES | $334M |
| Common Stock | $13.0K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$1.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$321.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$206M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$206M |
| TOTAL LIABILITIES & EQUITY | $128M |
| Total Debt | $187M |
| Net Debt | $148M |
