| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $14M | $17M | $7M | -14.3% | 104.8% |
| Op. Income | -$110M | -$121M | -$139M | 8.9% | 20.9% |
| Gross Margin | 100.0% | 100.0% | 62.6% | 0.0pp | 37.4pp |
| Net Margin | -710.8% | -687.6% | -2112.6% | -23.2pp | 1401.8pp |
| EPS (Diluted) | $-0.98 | $-1.10 | $-1.52 | 10.9% | 35.5% |
| Free Cash Flow | -$100M | -$150M | -$59M | 33.3% | -68.7% |
| Item | Amount |
|---|---|
| REVENUE | $14M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $14M |
| R&D Expenses | $97M |
| Selling & Marketing | $0 |
| General & Administrative | $27M |
| SG&A Expenses | $27M |
| Other Expenses | $0 |
| Operating Expenses | $124M |
| Cost & Expenses | $124M |
| OPERATING INCOME | -$110M |
| Interest Income | $7M |
| Interest Expense | $0 |
| Other Income/Expenses | $9M |
| INCOME BEFORE TAX | -$101M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$101M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$101M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$101M |
| D&A | $2M |
| EBIT | -$110M |
| EBITDA | -$108M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$101M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $22M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | -$20M |
| OPERATING CASH FLOW | -$100M |
| Capital Expenditure | -$239.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$56M |
| Sales/Maturities of Investments | $163M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $107M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $1M |
| NET CASH FROM FINANCING | $15M |
| FREE CASH FLOW | -$100M |
| Net Change in Cash | $22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $156M |
| Short-Term Investments | $303M |
| Net Receivables | $11M |
| Inventory | $0 |
| Other Current Assets | $25M |
| TOTAL CURRENT ASSETS | $496M |
| PP&E (Net) | $189M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $197M |
| Tax Assets | $0 |
| Other Non-Current Assets | $17M |
| TOTAL NON-CURRENT ASSETS | $403M |
| TOTAL ASSETS | $899M |
| Account Payables | $10M |
| Short-Term Debt | $0 |
| Deferred Revenue | $17M |
| Other Current Liabilities | $12M |
| TOTAL CURRENT LIABILITIES | $95M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $13M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $88M |
| TOTAL LIABILITIES | $184M |
| Common Stock | $10.0K |
| Additional Paid-In Capital | $3.1B |
| Retained Earnings | -$2.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $653.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $715M |
| Minority Interest | $0 |
| TOTAL EQUITY | $715M |
| TOTAL LIABILITIES & EQUITY | $899M |
| Total Debt | $103M |
| Net Debt | -$54M |
