| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $410.0K | $4M | $11M | -88.9% | -96.2% |
| Op. Income | -$46M | -$45M | -$40M | -2.8% | -15.0% |
| Gross Margin | 23.7% | 27.5% | -9.9% | -3.8pp | 33.5pp |
| Net Margin | -12320.2% | -1051.1% | -360.5% | -11269.2pp | -11959.7pp |
| EPS (Diluted) | $-0.62 | $-0.48 | $-0.55 | -29.2% | -12.7% |
| Free Cash Flow | -$13M | -$45M | -$26M | 71.6% | 50.2% |
| Item | Amount |
|---|---|
| REVENUE | $410.0K |
| Cost of Revenue | $313.0K |
| GROSS PROFIT | $97.0K |
| R&D Expenses | $33M |
| Selling & Marketing | $0 |
| General & Administrative | $14M |
| SG&A Expenses | $14M |
| Other Expenses | $0 |
| Operating Expenses | $46M |
| Cost & Expenses | $46M |
| OPERATING INCOME | -$46M |
| Interest Income | $161.0K |
| Interest Expense | $3M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$51M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$51M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$51M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$51M |
| D&A | $3M |
| EBIT | -$47M |
| EBITDA | -$44M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$51M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | $30M |
| OPERATING CASH FLOW | -$12M |
| Capital Expenditure | -$610.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $63.0K |
| NET CASH FROM INVESTING | -$547.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$230.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $11.0K |
| NET CASH FROM FINANCING | -$219.0K |
| FREE CASH FLOW | -$13M |
| Net Change in Cash | -$17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $15M |
| Short-Term Investments | $0 |
| Net Receivables | $12M |
| Inventory | $0 |
| Other Current Assets | $328.0K |
| TOTAL CURRENT ASSETS | $34M |
| PP&E (Net) | $145M |
| Goodwill | $0 |
| Intangible Assets | $653.0K |
| Long-Term Investments | $9M |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $155M |
| TOTAL ASSETS | $189M |
| Account Payables | $22M |
| Short-Term Debt | $77M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $49M |
| TOTAL CURRENT LIABILITIES | $153M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $64M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $77M |
| TOTAL LIABILITIES | $230M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $797M |
| Retained Earnings | -$831M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$41M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$41M |
| TOTAL LIABILITIES & EQUITY | $189M |
| Total Debt | $88M |
| Net Debt | $73M |
