| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $40M | $24M | $35M | 64.2% | 13.4% |
| Op. Income | -$37M | -$37M | -$12M | -0.6% | -217.7% |
| Gross Margin | 42.6% | 46.1% | 55.8% | -3.5pp | -13.1pp |
| Net Margin | -83.5% | -122.7% | -23.6% | 39.3pp | -59.9pp |
| EPS (Diluted) | $-0.73 | $-0.77 | $-0.22 | 5.2% | -231.8% |
| Free Cash Flow | -$42M | -$6M | -$7M | -551.8% | -535.4% |
| Item | Amount |
|---|---|
| REVENUE | $40M |
| Cost of Revenue | $23M |
| GROSS PROFIT | $17M |
| R&D Expenses | $8M |
| Selling & Marketing | $0 |
| General & Administrative | $39M |
| SG&A Expenses | $39M |
| Other Expenses | $7M |
| Operating Expenses | $54M |
| Cost & Expenses | $77M |
| OPERATING INCOME | -$37M |
| Interest Income | $1M |
| Interest Expense | $0 |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | -$36M |
| Income Tax Expense | -$2M |
| NET INCOME | -$34M |
| D&A | $5M |
| EBIT | -$36M |
| EBITDA | -$31M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$34M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$6M |
| Other Non-Cash Items | $7M |
| Change in Working Capital | -$16M |
| OPERATING CASH FLOW | -$41M |
| Capital Expenditure | -$677.0K |
| Acquisitions (Net) | -$84M |
| Purchases of Investments | -$15M |
| Sales/Maturities of Investments | $48M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$53M |
| Net Debt Issuance | -$106.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6.0K |
| NET CASH FROM FINANCING | $150.0K |
| FREE CASH FLOW | -$42M |
| Net Change in Cash | -$95M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $38M |
| Short-Term Investments | $97M |
| Net Receivables | $33M |
| Inventory | $55M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $233M |
| PP&E (Net) | $45M |
| Goodwill | $23M |
| Intangible Assets | $135M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $211M |
| TOTAL ASSETS | $444M |
| Account Payables | $11M |
| Short-Term Debt | $0 |
| Deferred Revenue | $21M |
| Other Current Liabilities | $21M |
| TOTAL CURRENT LIABILITIES | $77M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $7M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $13M |
| TOTAL NON-CURRENT LIABILITIES | $52M |
| TOTAL LIABILITIES | $130M |
| Common Stock | $47.0K |
| Additional Paid-In Capital | $869M |
| Retained Earnings | -$554M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$818.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $315M |
| Minority Interest | $0 |
| TOTAL EQUITY | $315M |
| TOTAL LIABILITIES & EQUITY | $444M |
| Total Debt | $40M |
| Net Debt | $2M |
