| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $11M | $10M | $23M | 6.8% | -52.4% |
| Op. Income | -$36M | -$45M | -$50M | 18.6% | 27.2% |
| Gross Margin | 100.0% | 100.0% | 58.5% | 0.0pp | 41.5pp |
| Net Margin | -372.2% | -486.4% | -222.9% | 114.2pp | -149.3pp |
| EPS (Diluted) | $-2.95 | $-3.62 | $-3.76 | 18.5% | 21.5% |
| Free Cash Flow | -$46M | -$49M | -$38M | 6.7% | -20.8% |
| Item | Amount |
|---|---|
| REVENUE | $11M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $11M |
| R&D Expenses | $30M |
| Selling & Marketing | $0 |
| General & Administrative | $17M |
| SG&A Expenses | $17M |
| Other Expenses | $447.0K |
| Operating Expenses | $47M |
| Cost & Expenses | $47M |
| OPERATING INCOME | -$36M |
| Interest Income | $2M |
| Interest Expense | $5M |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | -$42M |
| Income Tax Expense | -$188.0K |
| Net Income from Continuing Ops | -$42M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$42M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$42M |
| D&A | $214.0K |
| EBIT | -$34M |
| EBITDA | -$34M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$42M |
| Depreciation & Amortization | -$655.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | -$46M |
| Capital Expenditure | -$37.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$19M |
| Sales/Maturities of Investments | $69M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $50M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $211.0K |
| FREE CASH FLOW | -$46M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $43M |
| Short-Term Investments | $133M |
| Net Receivables | $1M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $187M |
| PP&E (Net) | $11M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $5M |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $21M |
| TOTAL ASSETS | $208M |
| Account Payables | $14M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $71M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $86M |
| TOTAL NON-CURRENT LIABILITIES | $160M |
| TOTAL LIABILITIES | $232M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $3.7B |
| Retained Earnings | -$3.7B |
| Treasury Stock | -$3M |
| Accum. Other Comp. Income | -$14.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$24M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$24M |
| TOTAL LIABILITIES & EQUITY | $208M |
| Total Debt | $96M |
| Net Debt | $53M |
