| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $20M | $26M | $17M | -23.7% | 18.5% |
| Op. Income | -$6M | -$3M | -$11M | -136.9% | 40.4% |
| Gross Margin | 59.4% | 60.0% | 45.1% | -0.5pp | 14.4pp |
| Net Margin | 18.1% | 209.3% | -75.3% | -191.2pp | 93.4pp |
| EPS (Diluted) | $0.07 | $1.08 | $-0.26 | -93.5% | 126.9% |
| Free Cash Flow | -$7M | $208M | -$5M | -103.1% | -24.9% |
| Item | Amount |
|---|---|
| REVENUE | $20M |
| Cost of Revenue | $8M |
| GROSS PROFIT | $12M |
| R&D Expenses | $8M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $10M |
| Operating Expenses | $18M |
| Cost & Expenses | $26M |
| OPERATING INCOME | -$6M |
| Interest Income | $0 |
| Interest Expense | $573.0K |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | -$7M |
| Net Income from Continuing Ops | $4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4M |
| D&A | $409.0K |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $4M |
| Depreciation & Amortization | $636.0K |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $994.0K |
| Other Non-Cash Items | $551.0K |
| Change in Working Capital | -$17M |
| OPERATING CASH FLOW | -$7M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$125M |
| Sales/Maturities of Investments | $25M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$100M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$678.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$400.0K |
| FREE CASH FLOW | -$7M |
| Net Change in Cash | -$107M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $175M |
| Short-Term Investments | $155M |
| Net Receivables | $18M |
| Inventory | $0 |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $355M |
| PP&E (Net) | $32M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $26M |
| TOTAL NON-CURRENT ASSETS | $61M |
| TOTAL ASSETS | $415M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $37M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $112M |
| TOTAL NON-CURRENT LIABILITIES | $145M |
| TOTAL LIABILITIES | $183M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | -$921M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $32.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $233M |
| Minority Interest | $0 |
| TOTAL EQUITY | $233M |
| TOTAL LIABILITIES & EQUITY | $415M |
| Total Debt | $45M |
| Net Debt | -$130M |
