| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $8M | $44M | $13M | -82.1% | -37.3% |
| Op. Income | -$91M | -$48M | -$55M | -89.1% | -67.3% |
| Gross Margin | 36.7% | -77.3% | -340.7% | 113.9pp | 377.4pp |
| Net Margin | -1094.8% | -98.7% | -388.9% | -996.1pp | -705.9pp |
| EPS (Diluted) | $-1.03 | $-0.52 | $-0.67 | -98.1% | -53.7% |
| Free Cash Flow | -$60M | -$66M | -$45M | 8.7% | -35.0% |
| Item | Amount |
|---|---|
| REVENUE | $8M |
| Cost of Revenue | $5M |
| GROSS PROFIT | $3M |
| R&D Expenses | $86M |
| Selling & Marketing | $0 |
| General & Administrative | $13M |
| SG&A Expenses | $13M |
| Other Expenses | -$5M |
| Operating Expenses | $94M |
| Cost & Expenses | $99M |
| OPERATING INCOME | -$91M |
| Interest Income | $5M |
| Interest Expense | $0 |
| Other Income/Expenses | $5M |
| INCOME BEFORE TAX | -$86M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$86M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$86M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$86M |
| D&A | $5M |
| EBIT | -$86M |
| EBITDA | -$81M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$86M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | $16M |
| OPERATING CASH FLOW | -$57M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$103M |
| Sales/Maturities of Investments | $156M |
| 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 | $1M |
| FREE CASH FLOW | -$60M |
| Net Change in Cash | -$6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $78M |
| Short-Term Investments | $350M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $12M |
| TOTAL CURRENT ASSETS | $441M |
| PP&E (Net) | $74M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $8M |
| TOTAL NON-CURRENT ASSETS | $82M |
| TOTAL ASSETS | $522M |
| Account Payables | $9M |
| Short-Term Debt | $0 |
| Deferred Revenue | $26M |
| Other Current Liabilities | $18M |
| TOTAL CURRENT LIABILITIES | $82M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $15M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $68M |
| TOTAL LIABILITIES | $150M |
| Common Stock | $77.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$925M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $119.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $372M |
| Minority Interest | $0 |
| TOTAL EQUITY | $372M |
| TOTAL LIABILITIES & EQUITY | $522M |
| Total Debt | $56M |
| Net Debt | -$22M |
