| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $51M | $36M | $24M | 43.0% | 116.3% |
| Op. Income | -$2M | -$10M | -$17M | 75.0% | 85.3% |
| Gross Margin | 39.9% | 33.2% | 34.3% | 6.8pp | 5.6pp |
| Net Margin | -4.1% | -26.5% | -118.0% | 22.4pp | 113.9pp |
| EPS (Diluted) | $-0.03 | $-0.13 | $-0.39 | 76.9% | 92.3% |
| Free Cash Flow | $7M | $7M | -$7M | -3.2% | 192.6% |
| Item | Amount |
|---|---|
| REVENUE | $51M |
| Cost of Revenue | $31M |
| GROSS PROFIT | $21M |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $21M |
| Other Expenses | $0 |
| Operating Expenses | $23M |
| Cost & Expenses | $54M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $712.0K |
| Other Income/Expenses | $375.0K |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $21.0K |
| 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 | $729.0K |
| EBIT | -$1M |
| EBITDA | -$652.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | $14.0K |
| Other Non-Cash Items | $41.0K |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | $9M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$479.0K |
| Common Stock Repurchased | -$4M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$430.0K |
| NET CASH FROM FINANCING | -$5M |
| FREE CASH FLOW | $7M |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $59M |
| Short-Term Investments | $0 |
| Net Receivables | $20M |
| Inventory | $3M |
| Other Current Assets | $20M |
| TOTAL CURRENT ASSETS | $103M |
| PP&E (Net) | $9M |
| Goodwill | $18M |
| Intangible Assets | $31M |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $626.0K |
| TOTAL NON-CURRENT ASSETS | $61M |
| TOTAL ASSETS | $164M |
| Account Payables | $3M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $32M |
| TOTAL CURRENT LIABILITIES | $37M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $854.0K |
| Other Non-Current Liabilities | $102.0K |
| TOTAL NON-CURRENT LIABILITIES | $7M |
| TOTAL LIABILITIES | $45M |
| Common Stock | $111.0K |
| Additional Paid-In Capital | $467M |
| Retained Earnings | -$348M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$45.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $120M |
| Minority Interest | $0 |
| TOTAL EQUITY | $120M |
| TOTAL LIABILITIES & EQUITY | $164M |
| Total Debt | $9M |
| Net Debt | -$50M |
