| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $33M | $42M | $26M | -21.8% | 25.9% |
| Op. Income | -$47M | -$41M | -$140M | -13.9% | 66.4% |
| Gross Margin | 88.8% | 90.9% | 89.2% | -2.1pp | -0.3pp |
| Net Margin | -151.4% | -103.5% | -544.4% | -47.9pp | 393.1pp |
| EPS (Diluted) | $-0.81 | $-0.72 | $-2.35 | -12.5% | 65.5% |
| Free Cash Flow | -$40M | -$19M | -$81M | -114.1% | 50.0% |
| Item | Amount |
|---|---|
| REVENUE | $33M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $29M |
| R&D Expenses | $37M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $39M |
| Other Expenses | $0 |
| Operating Expenses | $76M |
| Cost & Expenses | $80M |
| OPERATING INCOME | -$47M |
| Interest Income | $4M |
| Interest Expense | $5M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$49M |
| Income Tax Expense | $80.0K |
| Net Income from Continuing Ops | -$49M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$49M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$51M |
| D&A | $383.0K |
| EBIT | -$44M |
| EBITDA | -$44M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$49M |
| Depreciation & Amortization | $383.0K |
| Stock-Based Compensation | $13M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | -$40M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$34M |
| Sales/Maturities of Investments | $58M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $25M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $32M |
| FREE CASH FLOW | -$40M |
| Net Change in Cash | $17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $106M |
| Short-Term Investments | $208M |
| Net Receivables | $18M |
| Inventory | $19M |
| Other Current Assets | $18M |
| TOTAL CURRENT ASSETS | $369M |
| PP&E (Net) | $4M |
| Goodwill | $0 |
| Intangible Assets | $6M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $8M |
| TOTAL NON-CURRENT ASSETS | $17M |
| TOTAL ASSETS | $387M |
| Account Payables | $12M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $46M |
| TOTAL CURRENT LIABILITIES | $112M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $108M |
| TOTAL NON-CURRENT LIABILITIES | $112M |
| TOTAL LIABILITIES | $224M |
| Common Stock | $62.0K |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$51.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $163M |
| Minority Interest | $0 |
| TOTAL EQUITY | $163M |
| TOTAL LIABILITIES & EQUITY | $387M |
| Total Debt | $4M |
| Net Debt | -$102M |
