| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $29M | $31M | $29M | -6.3% | 2.7% |
| Op. Income | -$16M | -$17M | -$24M | 6.2% | 33.7% |
| Gross Margin | 39.4% | 37.8% | 34.3% | 1.6pp | 5.1pp |
| Net Margin | -60.6% | -59.0% | -97.5% | -1.6pp | 36.9pp |
| EPS (Diluted) | $-1.00 | $-1.04 | $-8.30 | 3.8% | 88.0% |
| Free Cash Flow | -$6M | -$5M | -$21M | -26.7% | 69.1% |
| Item | Amount |
|---|---|
| REVENUE | $29M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $12M |
| R&D Expenses | $5M |
| Selling & Marketing | $14M |
| General & Administrative | $8M |
| SG&A Expenses | $22M |
| Other Expenses | $0 |
| Operating Expenses | $27M |
| Cost & Expenses | $45M |
| OPERATING INCOME | -$16M |
| Interest Income | $2M |
| Interest Expense | $3M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$17M |
| Income Tax Expense | $404.0K |
| Net Income from Continuing Ops | -$18M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$18M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$18M |
| D&A | $322.0K |
| EBIT | -$14M |
| EBITDA | -$14M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$18M |
| Depreciation & Amortization | $322.0K |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $99.0K |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | -$6M |
| Capital Expenditure | -$160.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$40M |
| Sales/Maturities of Investments | $43M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $3M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $231.0K |
| FREE CASH FLOW | -$6M |
| Net Change in Cash | -$3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $36M |
| Short-Term Investments | $142M |
| Net Receivables | $33M |
| Inventory | $49M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $265M |
| PP&E (Net) | $8M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $538.0K |
| TOTAL NON-CURRENT ASSETS | $12M |
| TOTAL ASSETS | $277M |
| Account Payables | $2M |
| Short-Term Debt | $2M |
| Deferred Revenue | $15M |
| Other Current Liabilities | $8M |
| TOTAL CURRENT LIABILITIES | $37M |
| Long-Term Debt | $97M |
| Deferred Revenue NC | $676.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$1M |
| TOTAL NON-CURRENT LIABILITIES | $97M |
| TOTAL LIABILITIES | $135M |
| Common Stock | $18.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $157.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $142M |
| Minority Interest | $0 |
| TOTAL EQUITY | $142M |
| TOTAL LIABILITIES & EQUITY | $277M |
| Total Debt | $100M |
| Net Debt | $63M |
