| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $12M | $6M | $10M | 100.9% | 15.7% |
| Op. Income | -$2M | -$15M | -$19M | 83.4% | 87.2% |
| Gross Margin | 100.0% | -131.6% | -132.7% | 231.6pp | 232.7pp |
| Net Margin | -14.4% | -236.1% | -175.2% | 221.7pp | 160.8pp |
| EPS (Diluted) | $-0.03 | $-0.25 | $-0.33 | 87.9% | 90.8% |
| Free Cash Flow | -$18M | -$4M | -$19M | -342.1% | 5.6% |
| Item | Amount |
|---|---|
| REVENUE | $12M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $12M |
| R&D Expenses | $11M |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | -$2M |
| Operating Expenses | $14M |
| Cost & Expenses | $14M |
| OPERATING INCOME | -$2M |
| Interest Income | $740.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $744.0K |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $0 |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $714.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $278.0K |
| Change in Working Capital | -$17M |
| OPERATING CASH FLOW | -$18M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | -$18M |
| Net Change in Cash | -$18M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $31M |
| Short-Term Investments | $0 |
| Net Receivables | $24M |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $59M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $153.0K |
| TOTAL NON-CURRENT ASSETS | $3M |
| TOTAL ASSETS | $62M |
| Account Payables | $780.0K |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $15M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $13M |
| TOTAL NON-CURRENT LIABILITIES | $14M |
| TOTAL LIABILITIES | $29M |
| Common Stock | $56.0K |
| Additional Paid-In Capital | $508M |
| Retained Earnings | -$475M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $33M |
| Minority Interest | $0 |
| TOTAL EQUITY | $33M |
| TOTAL LIABILITIES & EQUITY | $62M |
| Total Debt | $4M |
| Net Debt | -$28M |
