| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $166M | $139M | $147M | 19.5% | 13.2% |
| Op. Income | -$108M | -$143M | -$116M | 24.5% | 7.3% |
| Gross Margin | 86.2% | 79.4% | 85.5% | 6.8pp | 0.7pp |
| Net Margin | -69.0% | -108.5% | -89.5% | 39.4pp | 20.5pp |
| EPS (Diluted) | $-1.17 | $-1.57 | $-1.52 | 25.5% | 23.0% |
| Free Cash Flow | -$96M | -$183M | -$81M | 47.6% | -17.5% |
| Item | Amount |
|---|---|
| REVENUE | $166M |
| Cost of Revenue | $23M |
| GROSS PROFIT | $143M |
| R&D Expenses | $165M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $87M |
| Other Expenses | $0 |
| Operating Expenses | $251M |
| Cost & Expenses | $274M |
| OPERATING INCOME | -$108M |
| Interest Income | $6M |
| Interest Expense | $14M |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | -$114M |
| Income Tax Expense | $947.0K |
| Net Income from Continuing Ops | -$115M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$115M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$115M |
| D&A | $9M |
| EBIT | -$100M |
| EBITDA | -$91M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$115M |
| Depreciation & Amortization | -$12M |
| Stock-Based Compensation | $39M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$22M |
| OPERATING CASH FLOW | -$108M |
| Capital Expenditure | $13M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$16M |
| Sales/Maturities of Investments | $89M |
| Other Investing Activities | -$308.0K |
| NET CASH FROM INVESTING | $71M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $84M |
| FREE CASH FLOW | -$96M |
| Net Change in Cash | $49M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $166M |
| Short-Term Investments | $311M |
| Net Receivables | $124M |
| Inventory | $46M |
| Other Current Assets | $71M |
| TOTAL CURRENT ASSETS | $720M |
| PP&E (Net) | $256M |
| Goodwill | $44M |
| Intangible Assets | $175M |
| Long-Term Investments | $51M |
| Tax Assets | $0 |
| Other Non-Current Assets | $60M |
| TOTAL NON-CURRENT ASSETS | $586M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $34M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $114M |
| TOTAL CURRENT LIABILITIES | $293M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $30M |
| Other Non-Current Liabilities | $800M |
| TOTAL NON-CURRENT LIABILITIES | $855M |
| TOTAL LIABILITIES | $1.1B |
| Common Stock | $96.0K |
| Additional Paid-In Capital | $4.4B |
| Retained Earnings | -$4.2B |
| Treasury Stock | -$8M |
| Accum. Other Comp. Income | -$268.0K |
| Other Equity | $8M |
| TOTAL STOCKHOLDERS' EQUITY | $151M |
| Minority Interest | $7M |
| TOTAL EQUITY | $158M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $36M |
| Net Debt | -$130M |
