| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $162M | $141M | $84M | 14.6% | 92.8% |
| Op. Income | $29M | $35M | $12M | -15.7% | 136.2% |
| Gross Margin | 82.6% | 86.6% | 88.9% | -4.0pp | -6.3pp |
| Net Margin | 241.7% | 20.0% | 4.6% | 221.8pp | 237.1pp |
| EPS (Diluted) | $2.43 | $0.17 | $0.02 | 1329.4% | 12050.0% |
| Free Cash Flow | -$23M | $7M | -$12M | -414.2% | -90.0% |
| Item | Amount |
|---|---|
| REVENUE | $162M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $134M |
| R&D Expenses | $41M |
| Selling & Marketing | $0 |
| General & Administrative | $63M |
| SG&A Expenses | $63M |
| Other Expenses | $0 |
| Operating Expenses | $104M |
| Cost & Expenses | $132M |
| OPERATING INCOME | $29M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $26M |
| Income Tax Expense | -$365M |
| Net Income from Continuing Ops | $391M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $391M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $391M |
| D&A | $62.0K |
| EBIT | $33M |
| EBITDA | $33M |
| EPS | $3 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $162M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $134M |
| R&D Expenses | $41M |
| Selling & Marketing | $0 |
| General & Administrative | $63M |
| SG&A Expenses | $63M |
| Other Expenses | $0 |
| Operating Expenses | $104M |
| Cost & Expenses | $132M |
| OPERATING INCOME | $29M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $26M |
| Income Tax Expense | -$365M |
| Net Income from Continuing Ops | $391M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $391M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $391M |
| D&A | $62.0K |
| EBIT | $33M |
| EBITDA | $33M |
| EPS | $3 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $391M |
| Depreciation & Amortization | $62.0K |
| Stock-Based Compensation | $18M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$367M |
| Change in Working Capital | -$65M |
| OPERATING CASH FLOW | -$23M |
| Capital Expenditure | -$80.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$31M |
| Sales/Maturities of Investments | $78M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $46M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$78M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$78M |
| FREE CASH FLOW | -$23M |
| Net Change in Cash | -$55M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $74M |
| Short-Term Investments | $58M |
| Net Receivables | $265M |
| Inventory | $147M |
| Other Current Assets | $56M |
| TOTAL CURRENT ASSETS | $600M |
| PP&E (Net) | $7M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $49M |
| Tax Assets | $367M |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $425M |
| TOTAL ASSETS | $1.0B |
| Account Payables | $112M |
| Short-Term Debt | $824.0K |
| Deferred Revenue | $26M |
| Other Current Liabilities | $16M |
| TOTAL CURRENT LIABILITIES | $157M |
| Long-Term Debt | $245M |
| Deferred Revenue NC | $8M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $261M |
| TOTAL LIABILITIES | $418M |
| Common Stock | $159.0K |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | -$1.1B |
| Treasury Stock | -$100M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $607M |
| Minority Interest | $0 |
| TOTAL EQUITY | $607M |
| TOTAL LIABILITIES & EQUITY | $1.0B |
| Total Debt | $254M |
| Net Debt | $180M |
