| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $19M | $12M | $5M | 62.2% | 291.6% |
| Op. Income | -$7M | -$7M | -$14M | -2.1% | 51.3% |
| Gross Margin | -13.9% | -23.0% | -164.2% | 9.1pp | 150.3pp |
| Net Margin | -40.1% | -61.5% | -299.3% | 21.4pp | 259.2pp |
| EPS (Diluted) | $-0.38 | $-0.36 | $-0.72 | -5.6% | 47.2% |
| Free Cash Flow | -$5M | -$6M | -$14M | 24.1% | 66.4% |
| Item | Amount |
|---|---|
| REVENUE | $19M |
| Cost of Revenue | $21M |
| GROSS PROFIT | -$3M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $4M |
| SG&A Expenses | $4M |
| Other Expenses | $0 |
| Operating Expenses | $4M |
| Cost & Expenses | $26M |
| OPERATING INCOME | -$7M |
| Interest Income | $0 |
| Interest Expense | $424.7K |
| Other Income/Expenses | -$539.2K |
| INCOME BEFORE TAX | -$7M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$7M |
| D&A | $0 |
| EBIT | -$7M |
| EBITDA | -$7M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $609.3K |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | -$4 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $595.0K |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3M |
| Short-Term Investments | $0 |
| Net Receivables | $4M |
| Inventory | $2M |
| Other Current Assets | $278.5K |
| TOTAL CURRENT ASSETS | $9M |
| PP&E (Net) | $808.3K |
| Goodwill | $3M |
| Intangible Assets | $982.6K |
| Long-Term Investments | $176.9K |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $5M |
| TOTAL ASSETS | $14M |
| Account Payables | $9M |
| Short-Term Debt | $9M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $18M |
| Long-Term Debt | $3M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $3M |
| TOTAL LIABILITIES | $21M |
| Common Stock | $20.8K |
| Additional Paid-In Capital | $78M |
| Retained Earnings | -$83M |
| Treasury Stock | -$2M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$6M |
| Minority Interest | -$55.0K |
| TOTAL EQUITY | -$6M |
| TOTAL LIABILITIES & EQUITY | $14M |
| Total Debt | $12M |
| Net Debt | $10M |
