| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $29M | $27M | $28M | 6.3% | 2.8% |
| Op. Income | -$17M | -$16M | -$9M | -3.6% | -91.0% |
| Gross Margin | 5.2% | 12.3% | 3.1% | -7.1pp | 2.0pp |
| Net Margin | -93.3% | -102.1% | -43.1% | 8.8pp | -50.2pp |
| EPS (Diluted) | $-1.30 | $-1.34 | $-0.94 | 2.9% | -37.9% |
| Free Cash Flow | -$21M | -$12M | -$14M | -69.3% | -48.9% |
| Item | Amount |
|---|---|
| REVENUE | $29M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $2M |
| R&D Expenses | $2M |
| Selling & Marketing | $2M |
| General & Administrative | $11M |
| SG&A Expenses | $13M |
| Other Expenses | $2M |
| Operating Expenses | $18M |
| Cost & Expenses | $46M |
| OPERATING INCOME | -$17M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$11M |
| INCOME BEFORE TAX | -$27M |
| Income Tax Expense | -$62.0K |
| Net Income from Continuing Ops | -$27M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$27M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$27M |
| D&A | $2M |
| EBIT | -$24M |
| EBITDA | -$22M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$27M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | -$62.0K |
| Other Non-Cash Items | $9M |
| Change in Working Capital | -$6M |
| OPERATING CASH FLOW | -$19M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $102.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$21M |
| Net Change in Cash | -$16M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7M |
| Short-Term Investments | $0 |
| Net Receivables | $5M |
| Inventory | $0 |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $22M |
| PP&E (Net) | $58M |
| Goodwill | $0 |
| Intangible Assets | $21M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $85M |
| TOTAL ASSETS | $107M |
| Account Payables | $16M |
| Short-Term Debt | $7M |
| Deferred Revenue | $16M |
| Other Current Liabilities | $49M |
| TOTAL CURRENT LIABILITIES | $88M |
| Long-Term Debt | $17M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $94M |
| TOTAL NON-CURRENT LIABILITIES | $111M |
| TOTAL LIABILITIES | $199M |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$751M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $659M |
| TOTAL STOCKHOLDERS' EQUITY | -$93M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$93M |
| TOTAL LIABILITIES & EQUITY | $107M |
| Total Debt | $24M |
| Net Debt | $17M |
