| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $340M | $289M | $261M | 17.5% | 30.4% |
| Op. Income | -$35M | -$115M | -$1.1B | 69.6% | 96.8% |
| Gross Margin | 16.9% | 11.1% | -269.2% | 5.8pp | 286.1pp |
| Net Margin | -14.7% | -43.1% | -462.0% | 28.4pp | 447.3pp |
| EPS (Diluted) | $-0.84 | $-2.15 | $-21.13 | 60.9% | 96.0% |
| Free Cash Flow | $23M | -$9M | -$111M | 351.8% | 120.5% |
| Item | Amount |
|---|---|
| REVENUE | $340M |
| Cost of Revenue | $283M |
| GROSS PROFIT | $58M |
| R&D Expenses | $54M |
| Selling & Marketing | $27M |
| General & Administrative | $26M |
| SG&A Expenses | $53M |
| Other Expenses | -$15M |
| Operating Expenses | $93M |
| Cost & Expenses | $375M |
| OPERATING INCOME | -$35M |
| Interest Income | $3M |
| Interest Expense | $0 |
| Other Income/Expenses | -$12M |
| INCOME BEFORE TAX | -$47M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$50M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$50M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$50M |
| D&A | $7M |
| EBIT | -$47M |
| EBITDA | -$40M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$50M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $22M |
| Deferred Income Tax | -$196.0K |
| Other Non-Cash Items | $20M |
| Change in Working Capital | $27M |
| OPERATING CASH FLOW | $26M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | -$150.0K |
| Purchases of Investments | -$282M |
| Sales/Maturities of Investments | $466M |
| Other Investing Activities | $54M |
| NET CASH FROM INVESTING | $236M |
| Net Debt Issuance | -$342M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$677.0K |
| NET CASH FROM FINANCING | -$343M |
| FREE CASH FLOW | $23M |
| Net Change in Cash | -$86M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $440M |
| Short-Term Investments | $59M |
| Net Receivables | $286M |
| Inventory | $531M |
| Other Current Assets | $415M |
| TOTAL CURRENT ASSETS | $1.8B |
| PP&E (Net) | $360M |
| Goodwill | $51M |
| Intangible Assets | $8M |
| Long-Term Investments | $6M |
| Tax Assets | $0 |
| Other Non-Current Assets | $40M |
| TOTAL NON-CURRENT ASSETS | $465M |
| TOTAL ASSETS | $2.2B |
| Account Payables | $284M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $176M |
| TOTAL CURRENT LIABILITIES | $775M |
| Long-Term Debt | $331M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $576M |
| TOTAL NON-CURRENT LIABILITIES | $978M |
| TOTAL LIABILITIES | $1.8B |
| Common Stock | $6.0K |
| Additional Paid-In Capital | $1.9B |
| Retained Earnings | -$1.3B |
| Treasury Stock | -$16M |
| Accum. Other Comp. Income | -$64M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $480M |
| Minority Interest | $0 |
| TOTAL EQUITY | $480M |
| TOTAL LIABILITIES & EQUITY | $2.2B |
| Total Debt | $416M |
| Net Debt | -$24M |
