| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $27M | $24M | $32M | 16.7% | -15.2% |
| Op. Income | -$16M | -$19M | -$25M | 14.2% | 36.9% |
| Gross Margin | 12.3% | -5.1% | 8.0% | 17.4pp | 4.3pp |
| Net Margin | -102.1% | -78.6% | -83.4% | -23.5pp | -18.7pp |
| EPS (Diluted) | $-1.34 | $-1.09 | $-2.31 | -22.6% | 41.9% |
| Free Cash Flow | -$12M | -$18M | -$8M | 29.7% | -66.0% |
| Item | Amount |
|---|---|
| REVENUE | $27M |
| Cost of Revenue | $24M |
| GROSS PROFIT | $3M |
| R&D Expenses | $3M |
| Selling & Marketing | $2M |
| General & Administrative | $13M |
| SG&A Expenses | $14M |
| Other Expenses | $2M |
| Operating Expenses | $19M |
| Cost & Expenses | $43M |
| OPERATING INCOME | -$16M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | -$12M |
| INCOME BEFORE TAX | -$28M |
| Income Tax Expense | -$64.0K |
| Net Income from Continuing Ops | -$28M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$28M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$28M |
| D&A | $2M |
| EBIT | -$24M |
| EBITDA | -$22M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$28M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | -$64.0K |
| Other Non-Cash Items | $10M |
| Change in Working Capital | $1M |
| OPERATING CASH FLOW | -$11M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$594.0K |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $176.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $33M |
| NET CASH FROM FINANCING | $33M |
| FREE CASH FLOW | -$12M |
| Net Change in Cash | $20M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $23M |
| Short-Term Investments | $0 |
| Net Receivables | $5M |
| Inventory | $0 |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $39M |
| PP&E (Net) | $58M |
| Goodwill | $0 |
| Intangible Assets | $22M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $11M |
| TOTAL NON-CURRENT ASSETS | $90M |
| TOTAL ASSETS | $129M |
| Account Payables | $19M |
| Short-Term Debt | $9M |
| Deferred Revenue | $18M |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $97M |
| Long-Term Debt | $67M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $69M |
| TOTAL NON-CURRENT LIABILITIES | $147M |
| TOTAL LIABILITIES | $244M |
| Common Stock | $4.0K |
| Additional Paid-In Capital | $608M |
| Retained Earnings | -$724M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$115M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$115M |
| TOTAL LIABILITIES & EQUITY | $129M |
| Total Debt | $91M |
| Net Debt | $68M |
