| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $45M | $46M | — | -2.5% | — |
| Op. Income | -$7M | -$76M | — | 90.6% | — |
| Gross Margin | 33.7% | 38.0% | — | -4.3pp | — |
| Net Margin | -9.1% | -161.9% | — | 152.8pp | — |
| EPS (Diluted) | $-0.03 | $-0.58 | — | 94.5% | — |
| Free Cash Flow | -$29M | -$24M | — | -22.6% | — |
| Item | Amount |
|---|---|
| REVENUE | $45M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $15M |
| R&D Expenses | $0 |
| Selling & Marketing | $5M |
| General & Administrative | $18M |
| SG&A Expenses | $22M |
| Other Expenses | $0 |
| Operating Expenses | $22M |
| Cost & Expenses | $52M |
| OPERATING INCOME | -$7M |
| Interest Income | $2M |
| Interest Expense | $5.5K |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | $55.7K |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $2M |
| EBIT | -$4M |
| EBITDA | -$3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$29M |
| OPERATING CASH FLOW | -$28M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$841.6K |
| Sales/Maturities of Investments | $50M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $48M |
| Net Debt Issuance | -$48.1K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $797.3K |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | $339.5K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $34M |
| Short-Term Investments | $116M |
| Net Receivables | $31M |
| Inventory | $2M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $192M |
| PP&E (Net) | $11M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $20M |
| Tax Assets | $0 |
| Other Non-Current Assets | $10M |
| TOTAL NON-CURRENT ASSETS | $41M |
| TOTAL ASSETS | $233M |
| Account Payables | $16M |
| Short-Term Debt | $3M |
| Deferred Revenue | $11M |
| Other Current Liabilities | $37M |
| TOTAL CURRENT LIABILITIES | $70M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $3M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $52M |
| TOTAL NON-CURRENT LIABILITIES | $57M |
| TOTAL LIABILITIES | $127M |
| Common Stock | $129.1K |
| Additional Paid-In Capital | $430M |
| Retained Earnings | -$325M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $810.7K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $106M |
| Minority Interest | $0 |
| TOTAL EQUITY | $106M |
| TOTAL LIABILITIES & EQUITY | $233M |
| Total Debt | $5M |
| Net Debt | -$29M |
