| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $856.0K | $953.0K | 241.4% | 206.6% |
| Op. Income | -$34M | -$32M | -$21M | -8.6% | -62.2% |
| Gross Margin | 64.6% | -81.7% | -5.9% | 146.2pp | 70.5pp |
| Net Margin | -5008.4% | -3112.4% | -2516.1% | -1896.0pp | -2492.3pp |
| EPS (Diluted) | $-1.10 | $-0.09 | $-0.09 | -1123.6% | -1165.8% |
| Free Cash Flow | -$29M | -$20M | -$24M | -47.7% | -24.7% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $2M |
| R&D Expenses | $12M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $24M |
| Other Expenses | $0 |
| Operating Expenses | $36M |
| Cost & Expenses | $37M |
| OPERATING INCOME | -$34M |
| Interest Income | $534.0K |
| Interest Expense | $902.0K |
| Other Income/Expenses | -$112M |
| INCOME BEFORE TAX | -$146M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$146M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$146M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$325M |
| D&A | $803.0K |
| EBIT | -$145M |
| EBITDA | -$145M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$146M |
| Depreciation & Amortization | $803.0K |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $111M |
| Change in Working Capital | $828.0K |
| OPERATING CASH FLOW | -$29M |
| Capital Expenditure | -$389.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$145M |
| Sales/Maturities of Investments | $82M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$63M |
| Net Debt Issuance | $93M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | $93M |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | $562.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $14M |
| Short-Term Investments | $107M |
| Net Receivables | $1M |
| Inventory | $3M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $130M |
| PP&E (Net) | $20M |
| Goodwill | $15M |
| Intangible Assets | $4M |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $832.0K |
| TOTAL NON-CURRENT ASSETS | $42M |
| TOTAL ASSETS | $171M |
| Account Payables | $6M |
| Short-Term Debt | $0 |
| Deferred Revenue | $480.0K |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $32M |
| Long-Term Debt | $93M |
| Deferred Revenue NC | $95.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $163.0K |
| TOTAL NON-CURRENT LIABILITIES | $97M |
| TOTAL LIABILITIES | $129M |
| Common Stock | $0 |
| Additional Paid-In Capital | $2.4B |
| Retained Earnings | -$2.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $24.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $42M |
| Minority Interest | $0 |
| TOTAL EQUITY | $42M |
| TOTAL LIABILITIES & EQUITY | $171M |
| Total Debt | $98M |
| Net Debt | $84M |
