| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $44M | $18M | $12M | 138.7% | 264.3% |
| Op. Income | -$48M | -$63M | -$49M | 23.1% | 0.4% |
| Gross Margin | -77.3% | -277.5% | -304.6% | 200.3pp | 227.3pp |
| Net Margin | -98.7% | -305.4% | -368.4% | 206.7pp | 269.7pp |
| EPS (Diluted) | $-0.52 | $-0.67 | $-0.71 | 22.4% | 26.8% |
| Free Cash Flow | -$66M | -$65M | -$42M | -2.0% | -58.1% |
| Item | Amount |
|---|---|
| REVENUE | $44M |
| Cost of Revenue | $78M |
| GROSS PROFIT | -$34M |
| R&D Expenses | $78M |
| Selling & Marketing | $0 |
| General & Administrative | $14M |
| SG&A Expenses | $14M |
| Other Expenses | -$78M |
| Operating Expenses | $14M |
| Cost & Expenses | $92M |
| OPERATING INCOME | -$48M |
| Interest Income | $6M |
| Interest Expense | $0 |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$43M |
| Income Tax Expense | $760.0K |
| Net Income from Continuing Ops | -$43M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$43M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$43M |
| D&A | $2M |
| EBIT | -$48M |
| EBITDA | -$46M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$43M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | -$32M |
| OPERATING CASH FLOW | -$63M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$68M |
| Sales/Maturities of Investments | $142M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $71M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $6.0K |
| FREE CASH FLOW | -$66M |
| Net Change in Cash | $8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $84M |
| Short-Term Investments | $402M |
| Net Receivables | $19M |
| Inventory | $0 |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $515M |
| PP&E (Net) | $69M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $76M |
| TOTAL ASSETS | $592M |
| Account Payables | $6M |
| Short-Term Debt | $0 |
| Deferred Revenue | $27M |
| Other Current Liabilities | $14M |
| TOTAL CURRENT LIABILITIES | $76M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $22M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $68M |
| TOTAL LIABILITIES | $144M |
| Common Stock | $76.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$839M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$20.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $448M |
| Minority Interest | $0 |
| TOTAL EQUITY | $448M |
| TOTAL LIABILITIES & EQUITY | $592M |
| Total Debt | $52M |
| Net Debt | -$32M |
