| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $48M | — | $14M | — | 251.0% |
| Op. Income | -$2M | — | -$5M | — | 69.1% |
| Gross Margin | 42.2% | — | 20.6% | — | 21.5pp |
| Net Margin | -3.7% | — | -14.4% | — | 10.7pp |
| EPS (Diluted) | $-0.56 | — | $-0.78 | — | 28.2% |
| Free Cash Flow | -$3M | — | $420.0K | — | -898.3% |
| Item | Amount |
|---|---|
| REVENUE | $48M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $20M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $22M |
| Other Expenses | $0 |
| Operating Expenses | $22M |
| Cost & Expenses | $50M |
| OPERATING INCOME | -$2M |
| Interest Income | $81.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $129.0K |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $249.0K |
| 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 | $666.0K |
| EBIT | -$2M |
| EBITDA | -$849.0K |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $666.0K |
| Stock-Based Compensation | $369.0K |
| Deferred Income Tax | -$395.0K |
| Other Non-Cash Items | -$112.0K |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | -$615.0K |
| Acquisitions (Net) | $7M |
| Purchases of Investments | -$395.0K |
| Sales/Maturities of Investments | $226.0K |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $6M |
| Net Debt Issuance | $258.0K |
| Common Stock Repurchased | -$3M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$198.0K |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | -$3M |
| Net Change in Cash | -$757.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $17M |
| Short-Term Investments | $3M |
| Net Receivables | $36M |
| Inventory | $8M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $68M |
| PP&E (Net) | $28M |
| Goodwill | $6M |
| Intangible Assets | $2M |
| Long-Term Investments | $10M |
| Tax Assets | $3M |
| Other Non-Current Assets | $33.0K |
| TOTAL NON-CURRENT ASSETS | $49M |
| TOTAL ASSETS | $117M |
| Account Payables | $6M |
| Short-Term Debt | $7M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $9M |
| TOTAL CURRENT LIABILITIES | $33M |
| Long-Term Debt | $7M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $564.0K |
| TOTAL NON-CURRENT LIABILITIES | $17M |
| TOTAL LIABILITIES | $49M |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $527M |
| Retained Earnings | -$434M |
| Treasury Stock | -$24M |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $68M |
| Minority Interest | $0 |
| TOTAL EQUITY | $68M |
| TOTAL LIABILITIES & EQUITY | $117M |
| Total Debt | $23M |
| Net Debt | $6M |
