| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4M | $3M | $11M | 21.6% | -68.5% |
| Op. Income | -$1M | -$2M | $5M | 44.2% | -120.9% |
| Gross Margin | 2.8% | -19.2% | 54.7% | 22.0pp | -51.9pp |
| Net Margin | -31.5% | -63.1% | 43.4% | 31.5pp | -74.9pp |
| EPS (Diluted) | $-0.05 | $-0.09 | $0.23 | 39.2% | -122.8% |
| Free Cash Flow | -$2M | $3M | $1M | -170.8% | -232.8% |
| Item | Amount |
|---|---|
| REVENUE | $4M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $102.0K |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $758.0K |
| SG&A Expenses | $758.0K |
| Other Expenses | $411.0K |
| Operating Expenses | $1M |
| Cost & Expenses | $5M |
| OPERATING INCOME | -$1M |
| Interest Income | $8M |
| Interest Expense | $4M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | $70.0K |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1M |
| D&A | $0 |
| EBIT | -$1M |
| EBITDA | -$1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$1M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$9M |
| Sales/Maturities of Investments | $15M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $6M |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | $1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4M |
| Short-Term Investments | $0 |
| Net Receivables | $24M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $27M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $361M |
| Tax Assets | $0 |
| Other Non-Current Assets | $944.0K |
| TOTAL NON-CURRENT ASSETS | $362M |
| TOTAL ASSETS | $389M |
| Account Payables | $3M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $5M |
| Long-Term Debt | $211M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $216M |
| TOTAL LIABILITIES | $216M |
| Common Stock | $22.0K |
| Additional Paid-In Capital | $298M |
| Retained Earnings | -$125M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $173M |
| Minority Interest | $0 |
| TOTAL EQUITY | $173M |
| TOTAL LIABILITIES & EQUITY | $389M |
| Total Debt | $211M |
| Net Debt | $208M |
