| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $167M | $159M | $155M | 5.3% | 7.8% |
| Op. Income | -$36M | -$40M | -$32M | 8.9% | -12.2% |
| Gross Margin | 73.2% | 73.9% | 77.2% | -0.6pp | -3.9pp |
| Net Margin | -22.3% | -25.3% | -19.7% | 3.0pp | -2.6pp |
| EPS (Diluted) | $-0.33 | $-0.36 | $-0.28 | 8.3% | -17.9% |
| Free Cash Flow | $15M | -$21M | -$307.0K | 169.6% | 4959.6% |
| Item | Amount |
|---|---|
| REVENUE | $167M |
| Cost of Revenue | $45M |
| GROSS PROFIT | $122M |
| R&D Expenses | $54M |
| Selling & Marketing | $59M |
| General & Administrative | $46M |
| SG&A Expenses | $104M |
| Other Expenses | $0 |
| Operating Expenses | $158M |
| Cost & Expenses | $203M |
| OPERATING INCOME | -$36M |
| Interest Income | $6M |
| Interest Expense | $0 |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$30M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | -$37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$37M |
| D&A | $4M |
| EBIT | -$30M |
| EBITDA | -$26M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$37M |
| Depreciation & Amortization | -$3M |
| Stock-Based Compensation | $29M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | $30M |
| OPERATING CASH FLOW | $21M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$108M |
| Sales/Maturities of Investments | $185M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $71M |
| Net Debt Issuance | $100M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $101M |
| FREE CASH FLOW | $15M |
| Net Change in Cash | $193M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $345M |
| Short-Term Investments | $691M |
| Net Receivables | $85M |
| Inventory | $0 |
| Other Current Assets | $79M |
| TOTAL CURRENT ASSETS | $1.2B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $161M |
| TOTAL NON-CURRENT ASSETS | $161M |
| TOTAL ASSETS | $1.4B |
| Account Payables | $119M |
| Short-Term Debt | $561M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $96M |
| TOTAL CURRENT LIABILITIES | $776M |
| Long-Term Debt | $195M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $7M |
| TOTAL NON-CURRENT LIABILITIES | $244M |
| TOTAL LIABILITIES | $1.0B |
| Common Stock | $0 |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $341M |
| Minority Interest | $0 |
| TOTAL EQUITY | $341M |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $798M |
| Net Debt | $453M |
