| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $22M | $23M | $29M | -3.6% | -23.8% |
| Op. Income | -$10M | -$7M | -$7M | -31.1% | -43.0% |
| Gross Margin | 78.7% | 78.7% | 63.1% | -0.0pp | 15.7pp |
| Net Margin | -110.8% | -57.0% | -50.7% | -53.8pp | -60.1pp |
| EPS (Diluted) | $-1.73 | $-1.00 | $-1.33 | -73.0% | -30.1% |
| Free Cash Flow | -$10M | -$8M | -$5M | -35.0% | -91.6% |
| Item | Amount |
|---|---|
| REVENUE | $22M |
| Cost of Revenue | $5M |
| GROSS PROFIT | $18M |
| R&D Expenses | $2M |
| Selling & Marketing | $6M |
| General & Administrative | $14M |
| SG&A Expenses | $20M |
| Other Expenses | $5M |
| Operating Expenses | $27M |
| Cost & Expenses | $32M |
| OPERATING INCOME | -$10M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | -$15M |
| INCOME BEFORE TAX | -$25M |
| Income Tax Expense | -$237.0K |
| Net Income from Continuing Ops | -$25M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$25M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$25M |
| D&A | $4M |
| EBIT | -$21M |
| EBITDA | -$17M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$25M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $14M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$8M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $7M |
| NET CASH FROM INVESTING | $5M |
| Net Debt Issuance | -$101M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $98M |
| NET CASH FROM FINANCING | -$4M |
| FREE CASH FLOW | -$10M |
| Net Change in Cash | -$7M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $27M |
| Short-Term Investments | $5M |
| Net Receivables | $10M |
| Inventory | $0 |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $49M |
| PP&E (Net) | $18M |
| Goodwill | $135M |
| Intangible Assets | $68M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $225M |
| TOTAL ASSETS | $274M |
| Account Payables | $7M |
| Short-Term Debt | $6M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $31M |
| TOTAL CURRENT LIABILITIES | $49M |
| Long-Term Debt | $125M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $150M |
| TOTAL LIABILITIES | $198M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $925M |
| Retained Earnings | -$849M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $248.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $75M |
| Minority Interest | $0 |
| TOTAL EQUITY | $75M |
| TOTAL LIABILITIES & EQUITY | $274M |
| Total Debt | $155M |
| Net Debt | $128M |
