| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $128M | $112M | $78M | 14.5% | 64.1% |
| Op. Income | -$5M | -$15M | -$24M | 67.1% | 79.4% |
| Gross Margin | 81.7% | 79.4% | 74.0% | 2.3pp | 7.6pp |
| Net Margin | -4.6% | -13.2% | -31.6% | 8.6pp | 27.1pp |
| EPS (Diluted) | $-0.12 | $-0.30 | $-0.52 | 60.0% | 76.9% |
| Free Cash Flow | $12M | -$2M | -$15M | 695.1% | 181.7% |
| Item | Amount |
|---|---|
| REVENUE | $128M |
| Cost of Revenue | $23M |
| GROSS PROFIT | $104M |
| R&D Expenses | $46M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $63M |
| Other Expenses | $0 |
| Operating Expenses | $109M |
| Cost & Expenses | $133M |
| OPERATING INCOME | -$5M |
| Interest Income | $3M |
| Interest Expense | $4M |
| Other Income/Expenses | -$470.0K |
| INCOME BEFORE TAX | -$5M |
| Income Tax Expense | $402.0K |
| Net Income from Continuing Ops | -$6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$6M |
| D&A | $6M |
| EBIT | -$2M |
| EBITDA | $4M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$6M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $18M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$67.0K |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | $12M |
| Capital Expenditure | -$126.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$32M |
| Sales/Maturities of Investments | $25M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$7M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $9M |
| FREE CASH FLOW | $12M |
| Net Change in Cash | $16M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $228M |
| Short-Term Investments | $76M |
| Net Receivables | $107M |
| Inventory | $23M |
| Other Current Assets | $19M |
| TOTAL CURRENT ASSETS | $453M |
| PP&E (Net) | $10M |
| Goodwill | $0 |
| Intangible Assets | $238M |
| Long-Term Investments | $17M |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $272M |
| TOTAL ASSETS | $726M |
| Account Payables | $18M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $27M |
| TOTAL CURRENT LIABILITIES | $145M |
| Long-Term Debt | $309M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $326M |
| TOTAL LIABILITIES | $471M |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $920M |
| Retained Earnings | -$665M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $352.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $255M |
| Minority Interest | $0 |
| TOTAL EQUITY | $255M |
| TOTAL LIABILITIES & EQUITY | $726M |
| Total Debt | $319M |
| Net Debt | $91M |
