| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $3M | $2M | -6.4% | 14.2% |
| Op. Income | -$8M | -$8M | -$9M | -3.1% | 13.7% |
| Gross Margin | 57.4% | 40.6% | 35.5% | 16.8pp | 21.9pp |
| Net Margin | -352.0% | -91.2% | -373.1% | -260.8pp | 21.1pp |
| EPS (Diluted) | $-0.17 | $-0.06 | $-0.25 | -183.3% | 32.0% |
| Free Cash Flow | -$4M | -$602.0K | -$3M | -578.4% | -32.5% |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $1M |
| R&D Expenses | $486.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $8M |
| Other Expenses | $725.0K |
| Operating Expenses | $9M |
| Cost & Expenses | $10M |
| OPERATING INCOME | -$8M |
| Interest Income | $0 |
| Interest Expense | $547.0K |
| Other Income/Expenses | -$204.0K |
| INCOME BEFORE TAX | -$8M |
| Income Tax Expense | -$2.0K |
| Net Income from Continuing Ops | -$8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$8M |
| Net Income Deductions | $340.0K |
| BOTTOM LINE NET INCOME | -$9M |
| D&A | $467.0K |
| EBIT | -$8M |
| EBITDA | -$7M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$8M |
| Depreciation & Amortization | $467.0K |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | -$2.0K |
| Other Non-Cash Items | $222.0K |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $27.0K |
| Net Debt Issuance | -$131.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2.0K |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | -$541.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $240.0K |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $1M |
| Other Current Assets | $708.0K |
| TOTAL CURRENT ASSETS | $4M |
| PP&E (Net) | $683.0K |
| Goodwill | $16M |
| Intangible Assets | $14M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $204.0K |
| TOTAL NON-CURRENT ASSETS | $31M |
| TOTAL ASSETS | $35M |
| Account Payables | $11M |
| Short-Term Debt | $3M |
| Deferred Revenue | $895.0K |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $27M |
| Long-Term Debt | $1M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $305.0K |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $7M |
| TOTAL LIABILITIES | $34M |
| Common Stock | $0 |
| Additional Paid-In Capital | $135M |
| Retained Earnings | -$135M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $425.0K |
| Minority Interest | $0 |
| TOTAL EQUITY | $425.0K |
| TOTAL LIABILITIES & EQUITY | $35M |
| Total Debt | $6M |
| Net Debt | $5M |
