| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $13M | $19M | $29M | -33.9% | -55.6% |
| Op. Income | -$21M | -$19M | -$14M | -10.6% | -53.4% |
| Gross Margin | 36.6% | 48.9% | 44.5% | -12.2pp | -7.9pp |
| Net Margin | -155.3% | 621.2% | -43.7% | -776.5pp | -111.6pp |
| EPS (Diluted) | $-0.61 | $3.72 | $-0.50 | -116.4% | -21.9% |
| Free Cash Flow | -$30M | -$39M | $5M | 23.7% | -681.0% |
| Item | Amount |
|---|---|
| REVENUE | $13M |
| Cost of Revenue | $8M |
| GROSS PROFIT | $5M |
| R&D Expenses | $9M |
| Selling & Marketing | $3M |
| General & Administrative | $14M |
| SG&A Expenses | $17M |
| Other Expenses | $0 |
| Operating Expenses | $26M |
| Cost & Expenses | $34M |
| OPERATING INCOME | -$21M |
| Interest Income | $1M |
| Interest Expense | $2.0K |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | -$20M |
| Income Tax Expense | -$2.0K |
| Net Income from Continuing Ops | -$20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$20M |
| D&A | $4M |
| EBIT | -$20M |
| EBITDA | -$16M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$20M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$6M |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$21M |
| Capital Expenditure | -$8M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$17M |
| Sales/Maturities of Investments | $23M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$9M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $18M |
| NET CASH FROM FINANCING | $10M |
| FREE CASH FLOW | -$30M |
| Net Change in Cash | -$16M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $20M |
| Short-Term Investments | $76M |
| Net Receivables | $10M |
| Inventory | $0 |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $113M |
| PP&E (Net) | $85M |
| Goodwill | $15M |
| Intangible Assets | $9M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $111M |
| TOTAL ASSETS | $224M |
| Account Payables | $11M |
| Short-Term Debt | $0 |
| Deferred Revenue | $28M |
| Other Current Liabilities | $20M |
| TOTAL CURRENT LIABILITIES | $59M |
| Long-Term Debt | $8M |
| Deferred Revenue NC | $22M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $32M |
| TOTAL LIABILITIES | $91M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $602M |
| Retained Earnings | -$462M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $133M |
| Minority Interest | $0 |
| TOTAL EQUITY | $133M |
| TOTAL LIABILITIES & EQUITY | $224M |
| Total Debt | $8M |
| Net Debt | -$12M |
