| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $2M | $536.0K | 41.7% | 473.9% |
| Op. Income | -$39M | -$36M | -$34M | -6.6% | -13.3% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 0.0pp | 0.0pp |
| Net Margin | -1201.3% | -1571.9% | -5906.9% | 370.6pp | 4705.6pp |
| EPS (Diluted) | $-0.28 | $-0.26 | $-0.28 | -7.7% | 0.0% |
| Free Cash Flow | -$35M | -$39M | -$27M | 11.7% | -27.5% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $3M |
| R&D Expenses | $33M |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $176.0K |
| Operating Expenses | $42M |
| Cost & Expenses | $42M |
| OPERATING INCOME | -$39M |
| Interest Income | $2M |
| Interest Expense | $689.0K |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$37M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$37M |
| D&A | $698.0K |
| EBIT | -$36M |
| EBITDA | -$36M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$37M |
| Depreciation & Amortization | $698.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$672.0K |
| Change in Working Capital | $386.0K |
| OPERATING CASH FLOW | -$33M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$27M |
| Sales/Maturities of Investments | $76M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $48M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $191.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$75.0K |
| NET CASH FROM FINANCING | $116.0K |
| FREE CASH FLOW | -$35M |
| Net Change in Cash | $15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $169M |
| Short-Term Investments | $49M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $221M |
| PP&E (Net) | $71M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $77M |
| TOTAL ASSETS | $299M |
| Account Payables | $5M |
| Short-Term Debt | $0 |
| Deferred Revenue | $8M |
| Other Current Liabilities | $4M |
| TOTAL CURRENT LIABILITIES | $31M |
| Long-Term Debt | $32M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $113.0K |
| TOTAL NON-CURRENT LIABILITIES | $91M |
| TOTAL LIABILITIES | $122M |
| Common Stock | $6.0K |
| Additional Paid-In Capital | $623M |
| Retained Earnings | -$446M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$4.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $177M |
| Minority Interest | $0 |
| TOTAL EQUITY | $177M |
| TOTAL LIABILITIES & EQUITY | $299M |
| Total Debt | $97M |
| Net Debt | -$73M |
