| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5M | $6M | $5M | -15.0% | 0.8% |
| Op. Income | -$46M | -$42M | -$41M | -10.4% | -12.0% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 0.0pp | 0.0pp |
| Net Margin | -834.9% | -627.0% | -710.4% | -207.9pp | -124.5pp |
| EPS (Diluted) | $-0.62 | $-0.55 | $-0.54 | -12.7% | -14.8% |
| Free Cash Flow | -$2M | -$30M | -$29M | 93.2% | 92.9% |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $5M |
| R&D Expenses | $40M |
| Selling & Marketing | $0 |
| General & Administrative | $11M |
| SG&A Expenses | $11M |
| Other Expenses | $0 |
| Operating Expenses | $51M |
| Cost & Expenses | $51M |
| OPERATING INCOME | -$46M |
| Interest Income | $7M |
| Interest Expense | $0 |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | -$39M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$39M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$39M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$39M |
| D&A | $361.0K |
| EBIT | -$39M |
| EBITDA | -$39M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$39M |
| Depreciation & Amortization | $361.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $9M |
| Change in Working Capital | $28M |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$88.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$161M |
| Sales/Maturities of Investments | $103M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$59M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $6M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | -$55M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $114M |
| Short-Term Investments | $462M |
| Net Receivables | $583.0K |
| Inventory | $0 |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $586M |
| PP&E (Net) | $12M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $103M |
| Tax Assets | $0 |
| Other Non-Current Assets | $287.0K |
| TOTAL NON-CURRENT ASSETS | $115M |
| TOTAL ASSETS | $702M |
| Account Payables | $6M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $14M |
| TOTAL CURRENT LIABILITIES | $45M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $11M |
| TOTAL LIABILITIES | $56M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$426M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $525.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $645M |
| Minority Interest | $0 |
| TOTAL EQUITY | $645M |
| TOTAL LIABILITIES & EQUITY | $702M |
| Total Debt | $11M |
| Net Debt | -$103M |
