| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $40M | $35M | $28M | 12.8% | 40.8% |
| Op. Income | -$24M | -$27M | -$28M | 9.6% | 11.8% |
| Gross Margin | 42.1% | 45.2% | 38.3% | -3.1pp | 3.8pp |
| Net Margin | -55.0% | -58.8% | -91.1% | 3.8pp | 36.2pp |
| EPS (Diluted) | $-0.37 | $-0.38 | $-0.54 | 2.6% | 31.5% |
| Free Cash Flow | -$20M | -$2M | -$4M | -811.9% | -362.6% |
| Item | Amount |
|---|---|
| REVENUE | $40M |
| Cost of Revenue | $23M |
| GROSS PROFIT | $17M |
| R&D Expenses | $18M |
| Selling & Marketing | $7M |
| General & Administrative | $16M |
| SG&A Expenses | $23M |
| Other Expenses | $0 |
| Operating Expenses | $41M |
| Cost & Expenses | $64M |
| OPERATING INCOME | -$24M |
| Interest Income | $2M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$22M |
| Income Tax Expense | $72.0K |
| NET INCOME | -$22M |
| D&A | $3M |
| EBIT | -$22M |
| EBITDA | -$18M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$22M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $12M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | -$11M |
| OPERATING CASH FLOW | -$18M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$39M |
| Sales/Maturities of Investments | $33M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$8M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | $37M |
| FREE CASH FLOW | -$20M |
| Net Change in Cash | $11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $87M |
| Short-Term Investments | $157M |
| Net Receivables | $32M |
| Inventory | $17M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $305M |
| PP&E (Net) | $24M |
| Goodwill | $0 |
| Intangible Assets | $14M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $10M |
| TOTAL NON-CURRENT ASSETS | $49M |
| TOTAL ASSETS | $354M |
| Account Payables | $16M |
| Short-Term Debt | $0 |
| Deferred Revenue | $36M |
| Other Current Liabilities | $20M |
| TOTAL CURRENT LIABILITIES | $94M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $3M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $805.0K |
| TOTAL NON-CURRENT LIABILITIES | $13M |
| TOTAL LIABILITIES | $106M |
| Common Stock | $47.0K |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | -$977M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$482.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $247M |
| Minority Interest | $0 |
| TOTAL EQUITY | $247M |
| TOTAL LIABILITIES & EQUITY | $354M |
| Total Debt | $16M |
| Net Debt | -$71M |
