| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $25M | $45M | $40M | -43.7% | -37.1% |
| Op. Income | -$31M | -$99M | -$72M | 68.8% | 57.3% |
| Gross Margin | 53.2% | 38.8% | 50.8% | 14.4pp | 2.5pp |
| Net Margin | -93.7% | -220.0% | -171.7% | 126.3pp | 78.0pp |
| EPS (Diluted) | $-0.87 | $-3.85 | $-2.80 | 77.4% | 68.9% |
| Free Cash Flow | -$29M | -$42M | -$45M | 31.1% | 34.9% |
| Item | Amount |
|---|---|
| REVENUE | $25M |
| Cost of Revenue | $12M |
| GROSS PROFIT | $14M |
| R&D Expenses | $14M |
| Selling & Marketing | $6M |
| General & Administrative | $23M |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $44M |
| Cost & Expenses | $56M |
| OPERATING INCOME | -$31M |
| Interest Income | $86.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $74.0K |
| INCOME BEFORE TAX | -$31M |
| Income Tax Expense | -$7M |
| Net Income from Continuing Ops | -$24M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$24M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$24M |
| D&A | $4M |
| EBIT | -$31M |
| EBITDA | -$27M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$24M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$5M |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | -$29M |
| Capital Expenditure | -$42.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$991.0K |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $25M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$717.0K |
| NET CASH FROM FINANCING | $24M |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | -$6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $40M |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $13M |
| Other Current Assets | $36M |
| TOTAL CURRENT ASSETS | $90M |
| PP&E (Net) | $1M |
| Goodwill | $0 |
| Intangible Assets | $23M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $30M |
| TOTAL NON-CURRENT ASSETS | $54M |
| TOTAL ASSETS | $144M |
| Account Payables | $14M |
| Short-Term Debt | $27M |
| Deferred Revenue | $41M |
| Other Current Liabilities | $21M |
| TOTAL CURRENT LIABILITIES | $111M |
| Long-Term Debt | $123.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $224.0K |
| TOTAL NON-CURRENT LIABILITIES | $347.0K |
| TOTAL LIABILITIES | $112M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $2.4B |
| Retained Earnings | -$2.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $33M |
| Minority Interest | $0 |
| TOTAL EQUITY | $33M |
| TOTAL LIABILITIES & EQUITY | $144M |
| Total Debt | $27M |
| Net Debt | -$13M |
