| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $13M | $11M | $16M | 25.8% | -18.1% |
| Op. Income | -$68M | -$64M | -$44M | -5.8% | -55.2% |
| Gross Margin | 85.6% | 88.2% | 90.8% | -2.6pp | -5.3pp |
| Net Margin | -503.9% | -598.7% | -266.3% | 94.9pp | -237.6pp |
| EPS (Diluted) | $-0.39 | $-0.38 | $-0.26 | -2.6% | -50.0% |
| Free Cash Flow | -$56M | -$47M | -$26M | -21.2% | -121.1% |
| Item | Amount |
|---|---|
| REVENUE | $13M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $12M |
| R&D Expenses | $51M |
| Selling & Marketing | $2M |
| General & Administrative | $27M |
| SG&A Expenses | $28M |
| Other Expenses | $0 |
| Operating Expenses | $79M |
| Cost & Expenses | $81M |
| OPERATING INCOME | -$68M |
| Interest Income | $3M |
| Interest Expense | $3M |
| Other Income/Expenses | -$173.0K |
| INCOME BEFORE TAX | -$68M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$68M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$68M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$68M |
| D&A | $1M |
| EBIT | -$65M |
| EBITDA | -$64M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$68M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | $552.0K |
| OPERATING CASH FLOW | -$55M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $130.0K |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $98M |
| FREE CASH FLOW | -$56M |
| Net Change in Cash | $41M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $391M |
| Short-Term Investments | $0 |
| Net Receivables | $30M |
| Inventory | $3M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $433M |
| PP&E (Net) | $16M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $18M |
| TOTAL ASSETS | $451M |
| Account Payables | $6M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $43M |
| Long-Term Debt | $70M |
| Deferred Revenue NC | $14M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $14M |
| TOTAL NON-CURRENT LIABILITIES | $102M |
| TOTAL LIABILITIES | $145M |
| Common Stock | $17.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $306M |
| Minority Interest | $0 |
| TOTAL EQUITY | $306M |
| TOTAL LIABILITIES & EQUITY | $451M |
| Total Debt | $77M |
| Net Debt | -$314M |
