| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $79M | $69M | $53M | 14.5% | 48.4% |
| Op. Income | -$22M | -$27M | -$27M | 19.1% | 17.3% |
| Gross Margin | 65.4% | 63.9% | 59.0% | 1.5pp | 6.3pp |
| Net Margin | -24.7% | -35.8% | -48.0% | 11.0pp | 23.3pp |
| EPS (Diluted) | $-0.35 | $-0.45 | $-0.50 | 22.2% | 30.0% |
| Free Cash Flow | -$18M | -$19M | -$17M | 5.2% | -6.4% |
| Item | Amount |
|---|---|
| REVENUE | $79M |
| Cost of Revenue | $27M |
| GROSS PROFIT | $52M |
| R&D Expenses | $18M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $56M |
| Other Expenses | $0 |
| Operating Expenses | $74M |
| Cost & Expenses | $101M |
| OPERATING INCOME | -$22M |
| Interest Income | $4M |
| Interest Expense | $895.0K |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$20M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$20M |
| D&A | $2M |
| EBIT | -$19M |
| EBITDA | -$17M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$20M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $12M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $285.0K |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | -$15M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $4M |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | -$18M |
| Net Change in Cash | -$13M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $303M |
| Short-Term Investments | $0 |
| Net Receivables | $81M |
| Inventory | $67M |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $458M |
| PP&E (Net) | $47M |
| Goodwill | $0 |
| Intangible Assets | $795.0K |
| Long-Term Investments | $6M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $55M |
| TOTAL ASSETS | $513M |
| Account Payables | $12M |
| Short-Term Debt | $2M |
| Deferred Revenue | $10M |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $50M |
| Long-Term Debt | $52M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $223.0K |
| TOTAL NON-CURRENT LIABILITIES | $78M |
| TOTAL LIABILITIES | $127M |
| Common Stock | $0 |
| Additional Paid-In Capital | $976M |
| Retained Earnings | -$590M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$144.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $386M |
| Minority Interest | $0 |
| TOTAL EQUITY | $386M |
| TOTAL LIABILITIES & EQUITY | $513M |
| Total Debt | $79M |
| Net Debt | -$223M |
