| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $7M | $11M | — | -38.0% | — |
| Op. Income | -$3M | $2M | — | -251.0% | — |
| Gross Margin | -1.6% | 17.9% | — | -19.5pp | — |
| Net Margin | -59.4% | 19.0% | — | -78.5pp | — |
| EPS (Diluted) | $-0.32 | $0.17 | — | -288.2% | — |
| Free Cash Flow | -$681.0K | -$3M | — | 75.3% | — |
| Item | Amount |
|---|---|
| REVENUE | $7M |
| Cost of Revenue | $8M |
| GROSS PROFIT | -$105.0K |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $4M |
| Operating Expenses | $4M |
| Cost & Expenses | $10M |
| OPERATING INCOME | -$3M |
| Interest Income | $0 |
| Interest Expense | $874.0K |
| Other Income/Expenses | -$874.0K |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $63.0K |
| EBIT | -$3M |
| EBITDA | -$3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$681.0K |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$95M |
| Sales/Maturities of Investments | $82M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$14M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | -$681.0K |
| Net Change in Cash | -$15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7M |
| Short-Term Investments | $62M |
| Net Receivables | $8M |
| Inventory | $0 |
| Other Current Assets | -$80M |
| TOTAL CURRENT ASSETS | $15M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $3M |
| Long-Term Investments | $89M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$92M |
| TOTAL NON-CURRENT ASSETS | $0 |
| TOTAL ASSETS | $285M |
| Account Payables | $13M |
| Short-Term Debt | $0 |
| Deferred Revenue | $33M |
| Other Current Liabilities | $176M |
| TOTAL CURRENT LIABILITIES | $237M |
| Long-Term Debt | $18M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $23M |
| TOTAL LIABILITIES | $260M |
| Common Stock | $100M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$65M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$10M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $25M |
| Minority Interest | $0 |
| TOTAL EQUITY | $25M |
| TOTAL LIABILITIES & EQUITY | $285M |
| Total Debt | $18M |
| Net Debt | $11M |
