| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $160M | $166M | $139M | -3.9% | 14.7% |
| Op. Income | -$171M | -$108M | -$132M | -58.4% | -29.5% |
| Gross Margin | 82.5% | 86.2% | 84.9% | -3.7pp | -2.4pp |
| Net Margin | -112.8% | -69.0% | -95.7% | -43.8pp | -17.1pp |
| EPS (Diluted) | $-1.81 | $-1.17 | $-1.40 | -54.7% | -29.3% |
| Free Cash Flow | -$93M | -$96M | -$69M | 3.2% | -35.1% |
| Item | Amount |
|---|---|
| REVENUE | $160M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $132M |
| R&D Expenses | $216M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $87M |
| Other Expenses | $0 |
| Operating Expenses | $303M |
| Cost & Expenses | $331M |
| OPERATING INCOME | -$171M |
| Interest Income | $6M |
| Interest Expense | $14M |
| Other Income/Expenses | -$9M |
| INCOME BEFORE TAX | -$180M |
| Income Tax Expense | $873.0K |
| Net Income from Continuing Ops | -$180M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$180M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$180M |
| D&A | $9M |
| EBIT | -$165M |
| EBITDA | -$157M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$180M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $37M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$11M |
| Change in Working Capital | $55M |
| OPERATING CASH FLOW | -$91M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $118M |
| NET CASH FROM INVESTING | $117M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $2.0K |
| FREE CASH FLOW | -$93M |
| Net Change in Cash | $26M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $212M |
| Short-Term Investments | $223M |
| Net Receivables | $115M |
| Inventory | $52M |
| Other Current Assets | $41M |
| TOTAL CURRENT ASSETS | $643M |
| PP&E (Net) | $250M |
| Goodwill | $44M |
| Intangible Assets | $173M |
| Long-Term Investments | $22M |
| Tax Assets | $0 |
| Other Non-Current Assets | $58M |
| TOTAL NON-CURRENT ASSETS | $547M |
| TOTAL ASSETS | $1.2B |
| Account Payables | $41M |
| Short-Term Debt | $66M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1M |
| TOTAL CURRENT LIABILITIES | $340M |
| Long-Term Debt | $785M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $30M |
| Other Non-Current Liabilities | -$3M |
| TOTAL NON-CURRENT LIABILITIES | $834M |
| TOTAL LIABILITIES | $1.2B |
| Common Stock | $96.0K |
| Additional Paid-In Capital | $4.4B |
| Retained Earnings | -$4.4B |
| Treasury Stock | -$8M |
| Accum. Other Comp. Income | $9M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $9M |
| Minority Interest | $7M |
| TOTAL EQUITY | $16M |
| TOTAL LIABILITIES & EQUITY | $1.2B |
| Total Debt | $885M |
| Net Debt | $672M |
