| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1M | — | $382.0K | — | 283.8% |
| Op. Income | -$674.9K | — | -$2M | — | 56.3% |
| Gross Margin | 59.0% | — | 93.9% | — | -34.9pp |
| Net Margin | -49.0% | — | -336.6% | — | 287.7pp |
| EPS (Diluted) | $-0.24 | — | $-0.44 | — | 45.5% |
| Free Cash Flow | -$830.8K | — | -$1M | — | 27.0% |
| Item | Amount |
|---|---|
| REVENUE | $1M |
| Cost of Revenue | $600.8K |
| GROSS PROFIT | $865.5K |
| R&D Expenses | $140.7K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $1M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $2M |
| OPERATING INCOME | -$674.9K |
| Interest Income | $0 |
| Interest Expense | $7.7K |
| Other Income/Expenses | -$43.1K |
| INCOME BEFORE TAX | -$718.0K |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$718.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$718.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$718.0K |
| D&A | $3.0K |
| EBIT | -$710.2K |
| EBITDA | -$707.2K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$718.0K |
| Depreciation & Amortization | $3.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $45.5K |
| Change in Working Capital | $47.3K |
| OPERATING CASH FLOW | -$622.1K |
| Capital Expenditure | -$208.7K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $651.7K |
| Other Investing Activities | $130.3K |
| NET CASH FROM INVESTING | $573.3K |
| Net Debt Issuance | -$724.1K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$724.1K |
| FREE CASH FLOW | -$830.8K |
| Net Change in Cash | -$769.1K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1M |
| Short-Term Investments | $768 |
| Net Receivables | $430.9K |
| Inventory | $0 |
| Other Current Assets | $20.4K |
| TOTAL CURRENT ASSETS | $2M |
| PP&E (Net) | $57.2K |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $207.0K |
| Tax Assets | $25.1K |
| Other Non-Current Assets | $4.3K |
| TOTAL NON-CURRENT ASSETS | $293.6K |
| TOTAL ASSETS | $3M |
| Account Payables | $0 |
| Short-Term Debt | $149.4K |
| Deferred Revenue | $147.3K |
| Other Current Liabilities | $352.8K |
| TOTAL CURRENT LIABILITIES | $776.7K |
| Long-Term Debt | $272.6K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $25.1K |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $297.7K |
| TOTAL LIABILITIES | $1M |
| Common Stock | $328.7K |
| Additional Paid-In Capital | $15M |
| Retained Earnings | -$13M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1M |
| Minority Interest | $0 |
| TOTAL EQUITY | $1M |
| TOTAL LIABILITIES & EQUITY | $3M |
| Total Debt | $422.0K |
| Net Debt | -$975.2K |
