| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4M | $5M | $2M | -29.7% | 61.8% |
| Op. Income | -$51M | -$44M | -$40M | -16.3% | -26.9% |
| Gross Margin | 89.2% | 87.5% | 55.4% | 1.7pp | 33.9pp |
| Net Margin | -2175.9% | -716.8% | -1940.4% | -1459.1pp | -235.4pp |
| EPS (Diluted) | $-1.38 | $-0.69 | $-0.91 | -100.0% | -51.6% |
| Free Cash Flow | -$16M | -$40M | -$45M | 59.3% | 63.9% |
| Item | Amount |
|---|---|
| REVENUE | $4M |
| Cost of Revenue | $398.0K |
| GROSS PROFIT | $3M |
| R&D Expenses | $34M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $19M |
| Other Expenses | $534.0K |
| Operating Expenses | $54M |
| Cost & Expenses | $55M |
| OPERATING INCOME | -$51M |
| Interest Income | $4M |
| Interest Expense | $17M |
| Other Income/Expenses | -$21M |
| INCOME BEFORE TAX | -$72M |
| Income Tax Expense | $9M |
| NET INCOME | -$81M |
| D&A | $4M |
| EBIT | -$55M |
| EBITDA | -$52M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$81M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | $15M |
| Change in Working Capital | $40M |
| OPERATING CASH FLOW | -$16M |
| Capital Expenditure | $66.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$97M |
| Sales/Maturities of Investments | $123M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $27M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $23M |
| NET CASH FROM FINANCING | $332M |
| FREE CASH FLOW | -$16M |
| Net Change in Cash | $343M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $597M |
| Short-Term Investments | $97M |
| Net Receivables | $4M |
| Inventory | $0 |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $716M |
| PP&E (Net) | $28M |
| Goodwill | $25M |
| Intangible Assets | $74M |
| Long-Term Investments | $30M |
| Tax Assets | $9M |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $172M |
| TOTAL ASSETS | $888M |
| Account Payables | $6M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $66M |
| TOTAL CURRENT LIABILITIES | $101M |
| Long-Term Debt | $52M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $8M |
| Other Non-Current Liabilities | $489M |
| TOTAL NON-CURRENT LIABILITIES | $559M |
| TOTAL LIABILITIES | $660M |
| Common Stock | $4M |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$59M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $229M |
| Minority Interest | $0 |
| TOTAL EQUITY | $229M |
| TOTAL LIABILITIES & EQUITY | $888M |
| Total Debt | $66M |
| Net Debt | -$531M |
