| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $69M | $68M | $45M | 1.4% | 55.3% |
| Op. Income | -$27M | -$20M | -$28M | -39.2% | 0.8% |
| Gross Margin | 63.9% | 64.0% | 56.2% | -0.1pp | 7.6pp |
| Net Margin | -35.8% | -27.6% | -58.3% | -8.1pp | 22.5pp |
| EPS (Diluted) | $-0.45 | $-0.35 | $-0.51 | -28.6% | 11.8% |
| Free Cash Flow | -$19M | -$34M | -$34M | 43.9% | 45.0% |
| Item | Amount |
|---|---|
| REVENUE | $69M |
| Cost of Revenue | $25M |
| GROSS PROFIT | $44M |
| R&D Expenses | $16M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $55M |
| Other Expenses | $0 |
| Operating Expenses | $72M |
| Cost & Expenses | $97M |
| OPERATING INCOME | -$27M |
| Interest Income | $4M |
| Interest Expense | $877.0K |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$25M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$25M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$25M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$25M |
| D&A | $1M |
| EBIT | -$24M |
| EBITDA | -$22M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$25M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $503.0K |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | -$17M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$19M |
| Net Change in Cash | -$18M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $316M |
| Short-Term Investments | $0 |
| Net Receivables | $79M |
| Inventory | $62M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $465M |
| PP&E (Net) | $47M |
| Goodwill | $0 |
| Intangible Assets | $864.0K |
| Long-Term Investments | $5M |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $54M |
| TOTAL ASSETS | $519M |
| Account Payables | $15M |
| Short-Term Debt | $2M |
| Deferred Revenue | $10M |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $52M |
| Long-Term Debt | $51M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $324.0K |
| TOTAL NON-CURRENT LIABILITIES | $78M |
| TOTAL LIABILITIES | $130M |
| Common Stock | $0 |
| Additional Paid-In Capital | $960M |
| Retained Earnings | -$571M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $223.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $389M |
| Minority Interest | $0 |
| TOTAL EQUITY | $389M |
| TOTAL LIABILITIES & EQUITY | $519M |
| Total Debt | $80M |
| Net Debt | -$236M |
