| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $3M | $1M | -20.8% | 119.3% |
| Op. Income | -$8M | -$15M | -$9M | 46.5% | 8.6% |
| Gross Margin | 40.6% | 53.2% | 16.9% | -12.6pp | 23.8pp |
| Net Margin | -91.2% | -626.0% | -153.1% | 534.8pp | 61.9pp |
| EPS (Diluted) | $-0.06 | $-0.52 | $-0.08 | 88.5% | 21.8% |
| Free Cash Flow | -$602.0K | -$930.0K | -$8M | 35.3% | 92.6% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $1M |
| R&D Expenses | $719.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $8M |
| Other Expenses | $0 |
| Operating Expenses | $9M |
| Cost & Expenses | $10M |
| OPERATING INCOME | -$8M |
| Interest Income | $0 |
| Interest Expense | $274.0K |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | -$5.0K |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $114.0K |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $530.0K |
| EBIT | -$2M |
| EBITDA | -$1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $530.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$8.0K |
| Other Non-Cash Items | -$5M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | -$586.0K |
| Capital Expenditure | -$16.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$16.0K |
| Net Debt Issuance | $963.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $15.0K |
| NET CASH FROM FINANCING | $978.0K |
| FREE CASH FLOW | -$602.0K |
| Net Change in Cash | $376.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $781.0K |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $1M |
| Other Current Assets | $404.0K |
| TOTAL CURRENT ASSETS | $4M |
| PP&E (Net) | $2M |
| Goodwill | $16M |
| Intangible Assets | $14M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $509.0K |
| TOTAL NON-CURRENT ASSETS | $33M |
| TOTAL ASSETS | $37M |
| Account Payables | $12M |
| Short-Term Debt | $4M |
| Deferred Revenue | $895.0K |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $31M |
| Long-Term Debt | $552.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $307.0K |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $5M |
| TOTAL LIABILITIES | $36M |
| Common Stock | $0 |
| Additional Paid-In Capital | $127M |
| Retained Earnings | -$127M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $342.0K |
| Minority Interest | $0 |
| TOTAL EQUITY | $342.0K |
| TOTAL LIABILITIES & EQUITY | $37M |
| Total Debt | $6M |
| Net Debt | $5M |
