| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $21M | $89M | $22M | -76.0% | -4.2% |
| Op. Income | -$63M | $12M | -$56M | -621.8% | -12.9% |
| Gross Margin | 57.3% | 96.1% | 34.4% | -38.8pp | 22.9pp |
| Net Margin | -331.8% | 6.8% | -237.7% | -338.6pp | -94.1pp |
| EPS (Diluted) | $-1.38 | $0.12 | $-1.05 | -1250.0% | -31.4% |
| Free Cash Flow | -$50M | $33M | -$46M | -252.5% | -8.2% |
| Item | Amount |
|---|---|
| REVENUE | $21M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $12M |
| R&D Expenses | $56M |
| Selling & Marketing | $0 |
| General & Administrative | $20M |
| SG&A Expenses | $20M |
| Other Expenses | $45.0K |
| Operating Expenses | $76M |
| Cost & Expenses | $85M |
| OPERATING INCOME | -$63M |
| Interest Income | $3M |
| Interest Expense | $11M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | -$71M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$71M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$71M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$71M |
| D&A | $4M |
| EBIT | -$60M |
| EBITDA | -$56M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$71M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | $8M |
| OPERATING CASH FLOW | -$49M |
| Capital Expenditure | -$391.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$211M |
| Sales/Maturities of Investments | $71M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$140M |
| Net Debt Issuance | $145M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | $139M |
| FREE CASH FLOW | -$50M |
| Net Change in Cash | -$51M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $80M |
| Short-Term Investments | $244M |
| Net Receivables | $21M |
| Inventory | $0 |
| Other Current Assets | $18M |
| TOTAL CURRENT ASSETS | $374M |
| PP&E (Net) | $161M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $40M |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $207M |
| TOTAL ASSETS | $581M |
| Account Payables | $22M |
| Short-Term Debt | $0 |
| Deferred Revenue | $14M |
| Other Current Liabilities | $54M |
| TOTAL CURRENT LIABILITIES | $120M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $24M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $154M |
| TOTAL NON-CURRENT LIABILITIES | $248M |
| TOTAL LIABILITIES | $367M |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | -$997M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$750.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $214M |
| Minority Interest | $0 |
| TOTAL EQUITY | $214M |
| TOTAL LIABILITIES & EQUITY | $581M |
| Total Debt | $78M |
| Net Debt | -$2M |
