| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $9M | $7M | $8M | 23.5% | 19.1% |
| Op. Income | -$3M | -$2M | -$3M | -33.8% | -28.7% |
| Gross Margin | 29.1% | 26.0% | 20.9% | 3.1pp | 8.2pp |
| Net Margin | -39.1% | -35.2% | -33.7% | -3.9pp | -5.3pp |
| EPS (Diluted) | $-0.09 | $-0.07 | $-0.07 | -37.0% | -28.6% |
| Free Cash Flow | -$4M | -$817.8K | -$802.5K | -348.1% | -356.6% |
| Item | Amount |
|---|---|
| REVENUE | $9M |
| Cost of Revenue | $7M |
| GROSS PROFIT | $3M |
| R&D Expenses | $757.9K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $5M |
| Operating Expenses | $6M |
| Cost & Expenses | $12M |
| OPERATING INCOME | -$3M |
| Interest Income | $0 |
| Interest Expense | $486.8K |
| Other Income/Expenses | -$159.1K |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | $100.0K |
| 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 | $1M |
| EBIT | -$3M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $239.1K |
| Deferred Income Tax | $427 |
| Other Non-Cash Items | -$445.9K |
| Change in Working Capital | -$918.2K |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | -$420.6K |
| Acquisitions (Net) | -$20M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$21M |
| Net Debt Issuance | $4M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $24M |
| NET CASH FROM FINANCING | $27M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6M |
| Short-Term Investments | $0 |
| Net Receivables | $8M |
| Inventory | $13M |
| Other Current Assets | $57.8K |
| TOTAL CURRENT ASSETS | $28M |
| PP&E (Net) | $22M |
| Goodwill | $10M |
| Intangible Assets | $21M |
| Long-Term Investments | $0 |
| Tax Assets | $123.0K |
| Other Non-Current Assets | $79.9K |
| TOTAL NON-CURRENT ASSETS | $53M |
| TOTAL ASSETS | $81M |
| Account Payables | $6M |
| Short-Term Debt | $185.6K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $12M |
| Long-Term Debt | $5M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1M |
| Other Non-Current Liabilities | $39M |
| TOTAL NON-CURRENT LIABILITIES | $53M |
| TOTAL LIABILITIES | $66M |
| Common Stock | $428.9K |
| Additional Paid-In Capital | $239M |
| Retained Earnings | -$224M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $451.1K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $16M |
| Minority Interest | $0 |
| TOTAL EQUITY | $16M |
| TOTAL LIABILITIES & EQUITY | $81M |
| Total Debt | $14M |
| Net Debt | $8M |
