| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $14M | $29M | $2M | -50.9% | 710.4% |
| Op. Income | -$12M | $4M | -$64M | -426.2% | 80.9% |
| Gross Margin | 99.9% | 99.3% | 95.9% | 0.7pp | 4.0pp |
| Net Margin | -90.0% | 11.3% | -3703.5% | -101.3pp | 3613.4pp |
| EPS (Diluted) | $-0.04 | $0.01 | $-0.18 | -494.4% | 80.5% |
| Free Cash Flow | -$24M | $17M | -$54M | -240.3% | 55.8% |
| Item | Amount |
|---|---|
| REVENUE | $14M |
| Cost of Revenue | $10.0K |
| GROSS PROFIT | $14M |
| R&D Expenses | $19M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $8M |
| Other Expenses | $0 |
| Operating Expenses | $26M |
| Cost & Expenses | $26M |
| OPERATING INCOME | -$12M |
| Interest Income | $2M |
| Interest Expense | $2M |
| Other Income/Expenses | -$582.0K |
| INCOME BEFORE TAX | -$13M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$13M |
| D&A | $151.0K |
| EBIT | -$11M |
| EBITDA | -$10M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$13M |
| Depreciation & Amortization | $151.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$14M |
| OPERATING CASH FLOW | -$24M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$27M |
| Sales/Maturities of Investments | $79M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $52M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $572.0K |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | -$24M |
| Net Change in Cash | $28M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $50M |
| Short-Term Investments | $66M |
| Net Receivables | $2M |
| Inventory | $158.0K |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $123M |
| PP&E (Net) | $9M |
| Goodwill | $45M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $29M |
| TOTAL NON-CURRENT ASSETS | $83M |
| TOTAL ASSETS | $206M |
| Account Payables | $4M |
| Short-Term Debt | $0 |
| Deferred Revenue | $4M |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $22M |
| Long-Term Debt | $57M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $8M |
| TOTAL NON-CURRENT LIABILITIES | $64M |
| TOTAL LIABILITIES | $86M |
| Common Stock | $366.0K |
| Additional Paid-In Capital | $2.1B |
| Retained Earnings | -$2.0B |
| Treasury Stock | -$5M |
| Accum. Other Comp. Income | $29.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $120M |
| Minority Interest | $0 |
| TOTAL EQUITY | $120M |
| TOTAL LIABILITIES & EQUITY | $206M |
| Total Debt | $58M |
| Net Debt | $8M |
