| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $2M | — | 47.2% | — |
| Op. Income | -$28M | -$23M | — | -22.8% | — |
| Gross Margin | 60.5% | 63.4% | — | -2.9pp | — |
| Net Margin | -1195.7% | -1537.8% | — | 342.1pp | — |
| EPS (Diluted) | $-0.74 | $-0.64 | — | -14.5% | — |
| Free Cash Flow | -$24M | -$20M | — | -18.7% | — |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $910.8K |
| GROSS PROFIT | $1M |
| R&D Expenses | $15M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $15M |
| Other Expenses | -$59.6K |
| Operating Expenses | $30M |
| Cost & Expenses | $31M |
| OPERATING INCOME | -$28M |
| Interest Income | $338.9K |
| Interest Expense | $596.8K |
| Other Income/Expenses | $583.4K |
| INCOME BEFORE TAX | -$28M |
| Income Tax Expense | -$339.1K |
| Net Income from Continuing Ops | -$28M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$28M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$28M |
| D&A | $3M |
| EBIT | -$27M |
| EBITDA | -$24M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$28M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$24M |
| Capital Expenditure | -$26.9K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $10M |
| NET CASH FROM INVESTING | $10M |
| Net Debt Issuance | -$328.5K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$28.1K |
| NET CASH FROM FINANCING | -$356.6K |
| FREE CASH FLOW | -$24M |
| Net Change in Cash | -$14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $13M |
| Short-Term Investments | $14M |
| Net Receivables | $3M |
| Inventory | $7M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $41M |
| PP&E (Net) | $7M |
| Goodwill | $0 |
| Intangible Assets | $59M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $68M |
| TOTAL ASSETS | $109M |
| Account Payables | $11M |
| Short-Term Debt | $290.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $12M |
| TOTAL CURRENT LIABILITIES | $24M |
| Long-Term Debt | $22M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $26M |
| TOTAL LIABILITIES | $50M |
| Common Stock | $8M |
| Additional Paid-In Capital | $368M |
| Retained Earnings | -$331M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $15M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $60M |
| Minority Interest | $0 |
| TOTAL EQUITY | $60M |
| TOTAL LIABILITIES & EQUITY | $109M |
| Total Debt | $25M |
| Net Debt | $12M |
