| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $9M | $9M | $12M | 1.7% | -24.8% |
| Op. Income | -$23M | -$21M | -$22M | -8.8% | -2.0% |
| Gross Margin | 84.7% | -164.4% | 100.0% | 249.1pp | -15.3pp |
| Net Margin | -235.5% | -233.9% | -163.0% | -1.7pp | -72.5pp |
| EPS (Diluted) | $-0.55 | $-0.54 | $-0.51 | -1.9% | -7.8% |
| Free Cash Flow | -$21M | -$21M | -$28M | 0.2% | 23.4% |
| Item | Amount |
|---|---|
| REVENUE | $9M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $7M |
| R&D Expenses | $24M |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | $0 |
| Operating Expenses | $30M |
| Cost & Expenses | $31M |
| OPERATING INCOME | -$23M |
| Interest Income | $2M |
| Interest Expense | $0 |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$21M |
| Income Tax Expense | -$234.0K |
| Net Income from Continuing Ops | -$20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$20M |
| D&A | $1M |
| EBIT | -$21M |
| EBITDA | -$19M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$20M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $442.0K |
| Change in Working Capital | -$6M |
| OPERATING CASH FLOW | -$21M |
| Capital Expenditure | -$74.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$6M |
| Sales/Maturities of Investments | $34M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $27M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$187.0K |
| NET CASH FROM FINANCING | -$187.0K |
| FREE CASH FLOW | -$21M |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $33M |
| Short-Term Investments | $151M |
| Net Receivables | $960.0K |
| Inventory | $0 |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $190M |
| PP&E (Net) | $50M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $58M |
| TOTAL ASSETS | $248M |
| Account Payables | $1M |
| Short-Term Debt | $0 |
| Deferred Revenue | $13M |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $30M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $2M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $40M |
| TOTAL LIABILITIES | $69M |
| Common Stock | $4.0K |
| Additional Paid-In Capital | $466M |
| Retained Earnings | -$288M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $371.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $178M |
| Minority Interest | $0 |
| TOTAL EQUITY | $178M |
| TOTAL LIABILITIES & EQUITY | $248M |
| Total Debt | $42M |
| Net Debt | $9M |
