| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $11M | $4M | -75.9% | -26.1% |
| Op. Income | -$93M | -$85M | -$72M | -9.4% | -28.3% |
| Gross Margin | -2580.7% | 81.8% | 100.0% | -2662.5pp | -2680.7pp |
| Net Margin | -2973.0% | -667.6% | -1670.3% | -2305.4pp | -1302.7pp |
| EPS (Diluted) | $-0.94 | $-0.95 | $-0.82 | 1.1% | -14.6% |
| Free Cash Flow | -$27M | -$61M | -$50M | 54.9% | 45.4% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $74M |
| GROSS PROFIT | -$71M |
| R&D Expenses | $74M |
| Selling & Marketing | $0 |
| General & Administrative | $17M |
| SG&A Expenses | $17M |
| Other Expenses | -$70M |
| Operating Expenses | $21M |
| Cost & Expenses | $95M |
| OPERATING INCOME | -$93M |
| Interest Income | $10M |
| Interest Expense | $0 |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | -$82M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$82M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$82M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$82M |
| D&A | $3M |
| EBIT | -$82M |
| EBITDA | -$79M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$82M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $16M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | $38M |
| OPERATING CASH FLOW | -$27M |
| Capital Expenditure | -$181.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$235M |
| NET CASH FROM INVESTING | -$235M |
| Net Debt Issuance | -$419.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $40M |
| NET CASH FROM FINANCING | $40M |
| FREE CASH FLOW | -$27M |
| Net Change in Cash | -$223M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $113M |
| Short-Term Investments | $393M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $23M |
| TOTAL CURRENT ASSETS | $528M |
| PP&E (Net) | $88M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $479M |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $574M |
| TOTAL ASSETS | $1.1B |
| Account Payables | $6M |
| Short-Term Debt | $14M |
| Deferred Revenue | $23M |
| Other Current Liabilities | $17M |
| TOTAL CURRENT LIABILITIES | $72M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $14M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $84M |
| TOTAL LIABILITIES | $156M |
| Common Stock | $7.0K |
| Additional Paid-In Capital | $1.9B |
| Retained Earnings | -$979M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $946M |
| Minority Interest | $0 |
| TOTAL EQUITY | $946M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $84M |
| Net Debt | -$29M |
