| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $552.0K | $591.0K | $787.0K | -6.6% | -29.9% |
| Op. Income | -$40M | -$30M | -$28M | -32.0% | -41.6% |
| Gross Margin | 35.1% | 59.4% | 46.6% | -24.2pp | -11.5pp |
| Net Margin | -6467.9% | -4879.2% | -3216.4% | -1588.7pp | -3251.5pp |
| EPS (Diluted) | $-0.17 | $-0.16 | $-0.18 | -6.3% | 5.6% |
| Free Cash Flow | -$33M | -$21M | -$24M | -60.4% | -36.4% |
| Item | Amount |
|---|---|
| REVENUE | $552.0K |
| Cost of Revenue | $358.0K |
| GROSS PROFIT | $194.0K |
| R&D Expenses | $14M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $11M |
| Other Expenses | $15M |
| Operating Expenses | $40M |
| Cost & Expenses | $40M |
| OPERATING INCOME | -$40M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | -$36M |
| Income Tax Expense | $19.0K |
| Net Income from Continuing Ops | -$36M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$36M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$36M |
| D&A | $1M |
| EBIT | -$36M |
| EBITDA | -$35M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$36M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | -$32M |
| Capital Expenditure | -$900.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$104M |
| Sales/Maturities of Investments | $98M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $221.0K |
| NET CASH FROM FINANCING | $47M |
| FREE CASH FLOW | -$33M |
| Net Change in Cash | $9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $31M |
| Short-Term Investments | $195M |
| Net Receivables | $5M |
| Inventory | $4M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $238M |
| PP&E (Net) | $17M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $5M |
| Tax Assets | $0 |
| Other Non-Current Assets | $233.0K |
| TOTAL NON-CURRENT ASSETS | $22M |
| TOTAL ASSETS | $260M |
| Account Payables | $1M |
| Short-Term Debt | $2M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $11M |
| TOTAL CURRENT LIABILITIES | $22M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $40.0K |
| TOTAL NON-CURRENT LIABILITIES | $3M |
| TOTAL LIABILITIES | $25M |
| Common Stock | $22.0K |
| Additional Paid-In Capital | $915M |
| Retained Earnings | -$680M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $54.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $235M |
| Minority Interest | $0 |
| TOTAL EQUITY | $235M |
| TOTAL LIABILITIES & EQUITY | $260M |
| Total Debt | $5M |
| Net Debt | -$26M |
