| Metric | Q2 2026 | Q1 2026 | Q2 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $63M | $64M | — | -2.4% | — |
| Op. Income | -$8M | -$13M | — | 35.2% | — |
| Gross Margin | 37.6% | 35.3% | — | 2.2pp | — |
| Net Margin | -74.1% | -26.8% | — | -47.3pp | — |
| EPS (Diluted) | $-3.78 | $-1.87 | — | -102.1% | — |
| Free Cash Flow | -$16M | -$18M | — | 11.5% | — |
| Item | Amount |
|---|---|
| REVENUE | $63M |
| Cost of Revenue | $39M |
| GROSS PROFIT | $24M |
| R&D Expenses | $6M |
| Selling & Marketing | $12M |
| General & Administrative | $11M |
| SG&A Expenses | $23M |
| Other Expenses | $3M |
| Operating Expenses | $32M |
| Cost & Expenses | $71M |
| OPERATING INCOME | -$8M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | -$38M |
| INCOME BEFORE TAX | -$46M |
| Income Tax Expense | $157.0K |
| Net Income from Continuing Ops | -$46M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$46M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$46M |
| D&A | $825.0K |
| EBIT | -$40M |
| EBITDA | -$39M |
| EPS | -$4 |
| EPS Diluted | -$4 |
| Item | Amount |
|---|---|
| Net Income | -$46M |
| Depreciation & Amortization | $825.0K |
| Stock-Based Compensation | $324.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $37M |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | -$16M |
| Capital Expenditure | -$414.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$414.0K |
| Net Debt Issuance | -$6M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$6M |
| FREE CASH FLOW | -$16M |
| Net Change in Cash | -$22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $15M |
| Short-Term Investments | $0 |
| Net Receivables | $44M |
| Inventory | $19M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $90M |
| PP&E (Net) | $19M |
| Goodwill | $13M |
| Intangible Assets | $13M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $48M |
| TOTAL ASSETS | $138M |
| Account Payables | $24M |
| Short-Term Debt | $100M |
| Deferred Revenue | $67M |
| Other Current Liabilities | $33M |
| TOTAL CURRENT LIABILITIES | $242M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $35M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $13M |
| TOTAL NON-CURRENT LIABILITIES | $56M |
| TOTAL LIABILITIES | $298M |
| Common Stock | $133.0K |
| Additional Paid-In Capital | $846M |
| Retained Earnings | -$1.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$950.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$160M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$160M |
| TOTAL LIABILITIES & EQUITY | $138M |
| Total Debt | $108M |
| Net Debt | $94M |
