| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $11M | $22M | $26M | -48.1% | -55.3% |
| Op. Income | -$85M | -$74M | -$51M | -13.6% | -66.0% |
| Gross Margin | 81.8% | 100.0% | 100.0% | -18.2pp | -18.2pp |
| Net Margin | -667.6% | -296.7% | -164.0% | -370.9pp | -503.6pp |
| EPS (Diluted) | $-0.95 | $-0.82 | $-0.58 | -15.9% | -63.8% |
| Free Cash Flow | -$61M | -$80M | -$48M | 23.9% | -27.2% |
| Item | Amount |
|---|---|
| REVENUE | $11M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $9M |
| R&D Expenses | $78M |
| Selling & Marketing | $0 |
| General & Administrative | $18M |
| SG&A Expenses | $18M |
| Other Expenses | -$2M |
| Operating Expenses | $94M |
| Cost & Expenses | $96M |
| OPERATING INCOME | -$85M |
| Interest Income | $8M |
| Interest Expense | $108.0K |
| Other Income/Expenses | $8M |
| INCOME BEFORE TAX | -$77M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$77M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$77M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$77M |
| D&A | $2M |
| EBIT | -$77M |
| EBITDA | -$74M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$77M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $15M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | $1M |
| OPERATING CASH FLOW | -$60M |
| Capital Expenditure | -$695.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$58M |
| Sales/Maturities of Investments | $117M |
| Other Investing Activities | $2M |
| NET CASH FROM INVESTING | $60M |
| Net Debt Issuance | -$382.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $246M |
| FREE CASH FLOW | -$61M |
| Net Change in Cash | $246M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $336M |
| Short-Term Investments | $330M |
| Net Receivables | $40M |
| Inventory | $0 |
| Other Current Assets | $23M |
| TOTAL CURRENT ASSETS | $728M |
| PP&E (Net) | $95M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $303M |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $403M |
| TOTAL ASSETS | $1.1B |
| Account Payables | $6M |
| Short-Term Debt | $0 |
| Deferred Revenue | $40M |
| Other Current Liabilities | $21M |
| TOTAL CURRENT LIABILITIES | $88M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $72M |
| TOTAL LIABILITIES | $160M |
| Common Stock | $7.0K |
| Additional Paid-In Capital | $1.9B |
| Retained Earnings | -$897M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $279.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $971M |
| Minority Interest | $0 |
| TOTAL EQUITY | $971M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $86M |
| Net Debt | -$250M |
