| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $581.0K | $18M | $49M | -96.8% | -98.8% |
| Op. Income | -$36M | -$18M | $11M | -99.1% | -434.4% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 0.0pp | 0.0pp |
| Net Margin | -6012.0% | -109.2% | 21.6% | -5902.9pp | -6033.6pp |
| EPS (Diluted) | $-0.11 | $-0.08 | $0.04 | -41.4% | -351.1% |
| Free Cash Flow | -$29M | -$18M | $12M | -57.1% | -345.3% |
| Item | Amount |
|---|---|
| REVENUE | $581.0K |
| Cost of Revenue | $0 |
| GROSS PROFIT | $581.0K |
| R&D Expenses | $28M |
| Selling & Marketing | $0 |
| General & Administrative | $8M |
| SG&A Expenses | $8M |
| Other Expenses | $0 |
| Operating Expenses | $36M |
| Cost & Expenses | $36M |
| OPERATING INCOME | -$36M |
| Interest Income | $355.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $462.0K |
| INCOME BEFORE TAX | -$35M |
| Income Tax Expense | -$161.0K |
| Net Income from Continuing Ops | -$35M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$35M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$35M |
| D&A | $2M |
| EBIT | -$35M |
| EBITDA | -$33M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$35M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $0 |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$28M |
| Capital Expenditure | -$64.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$64.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$267.0K |
| NET CASH FROM FINANCING | $19M |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | -$8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $31M |
| Short-Term Investments | $0 |
| Net Receivables | $5M |
| Inventory | $0 |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $44M |
| PP&E (Net) | $29M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $15M |
| TOTAL NON-CURRENT ASSETS | $45M |
| TOTAL ASSETS | $89M |
| Account Payables | $16M |
| Short-Term Debt | $0 |
| Deferred Revenue | $8M |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $50M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $6M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $977.0K |
| TOTAL NON-CURRENT LIABILITIES | $32M |
| TOTAL LIABILITIES | $82M |
| Common Stock | $3M |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6M |
| Minority Interest | $0 |
| TOTAL EQUITY | $6M |
| TOTAL LIABILITIES & EQUITY | $89M |
| Total Debt | $25M |
| Net Debt | -$5M |
