| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $10M | $64M | $9M | -84.8% | 13.8% |
| Op. Income | -$48M | -$3M | -$68M | -1348.7% | 28.7% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 0.0pp | 0.0pp |
| Net Margin | -586.6% | -18.0% | -572.6% | -568.5pp | -14.0pp |
| EPS (Diluted) | $-6.70 | $-1.40 | $-5.90 | -378.6% | -13.6% |
| Free Cash Flow | -$38M | -$45M | -$65M | 14.2% | 41.2% |
| Item | Amount |
|---|---|
| REVENUE | $10M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $10M |
| R&D Expenses | $40M |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $10M |
| Operating Expenses | $58M |
| Cost & Expenses | $58M |
| OPERATING INCOME | -$48M |
| Interest Income | $2M |
| Interest Expense | $10M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | -$57M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$57M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$57M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$57M |
| D&A | $2M |
| EBIT | -$46M |
| EBITDA | -$45M |
| EPS | -$7 |
| EPS Diluted | -$7 |
| Item | Amount |
|---|---|
| Net Income | -$57M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $11M |
| Change in Working Capital | $5M |
| OPERATING CASH FLOW | -$38M |
| Capital Expenditure | -$251.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$90M |
| Sales/Maturities of Investments | $130M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $40M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$25.0K |
| NET CASH FROM FINANCING | $102.0K |
| FREE CASH FLOW | -$38M |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $66M |
| Short-Term Investments | $102M |
| Net Receivables | $4M |
| Inventory | $0 |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $182M |
| PP&E (Net) | $27M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $858.0K |
| TOTAL NON-CURRENT ASSETS | $28M |
| TOTAL ASSETS | $210M |
| Account Payables | $7M |
| Short-Term Debt | $8M |
| Deferred Revenue | $9M |
| Other Current Liabilities | $48M |
| TOTAL CURRENT LIABILITIES | $72M |
| Long-Term Debt | $10M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $215M |
| TOTAL NON-CURRENT LIABILITIES | $225M |
| TOTAL LIABILITIES | $297M |
| Common Stock | $85.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$931M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $33.0K |
| Other Equity | $844M |
| TOTAL STOCKHOLDERS' EQUITY | -$87M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$87M |
| TOTAL LIABILITIES & EQUITY | $210M |
| Total Debt | $18M |
| Net Debt | -$48M |
