| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $27M | $24M | $21M | 16.3% | 29.9% |
| Op. Income | -$3M | -$7M | -$4M | 61.9% | 38.7% |
| Gross Margin | 77.4% | 77.1% | 73.2% | 0.3pp | 4.2pp |
| Net Margin | -12.8% | -36.8% | -25.9% | 24.0pp | 13.1pp |
| EPS (Diluted) | $-0.11 | $-0.26 | $-0.19 | 57.7% | 42.1% |
| Free Cash Flow | -$2M | -$2M | -$2M | 12.4% | -8.2% |
| Item | Amount |
|---|---|
| REVENUE | $27M |
| Cost of Revenue | $6M |
| GROSS PROFIT | $21M |
| R&D Expenses | $7M |
| Selling & Marketing | $13M |
| General & Administrative | $5M |
| SG&A Expenses | $17M |
| Other Expenses | $0 |
| Operating Expenses | $24M |
| Cost & Expenses | $30M |
| OPERATING INCOME | -$3M |
| Interest Income | $0 |
| Interest Expense | $978.0K |
| Other Income/Expenses | -$896.0K |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$3M |
| D&A | $54.0K |
| EBIT | -$3M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | $487.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $108.0K |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$30.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$30.0K |
| Net Debt Issuance | -$133.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$53.0K |
| NET CASH FROM FINANCING | -$235.0K |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $21M |
| Short-Term Investments | $39M |
| Net Receivables | $15M |
| Inventory | $18M |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $95M |
| PP&E (Net) | $12M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $122.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $120.0K |
| TOTAL NON-CURRENT ASSETS | $12M |
| TOTAL ASSETS | $107M |
| Account Payables | $5M |
| Short-Term Debt | $2M |
| Deferred Revenue | $649.0K |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $20M |
| Long-Term Debt | $59M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $69M |
| TOTAL LIABILITIES | $89M |
| Common Stock | $33.0K |
| Additional Paid-In Capital | $568M |
| Retained Earnings | -$550M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $19M |
| Minority Interest | $0 |
| TOTAL EQUITY | $19M |
| TOTAL LIABILITIES & EQUITY | $107M |
| Total Debt | $71M |
| Net Debt | $51M |
