| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $33M | $32M | $36M | 4.0% | -9.1% |
| Op. Income | -$2M | -$2M | -$6M | 17.8% | 70.0% |
| Gross Margin | 24.6% | 25.0% | 21.4% | -0.4pp | 3.2pp |
| Net Margin | -15.7% | -17.7% | -29.3% | 2.0pp | 13.6pp |
| EPS (Diluted) | $-4.43 | $-4.80 | $-0.79 | 7.7% | -460.8% |
| Free Cash Flow | -$4M | $2M | -$12M | -305.9% | 69.5% |
| Item | Amount |
|---|---|
| REVENUE | $33M |
| Cost of Revenue | $25M |
| GROSS PROFIT | $8M |
| R&D Expenses | $2M |
| Selling & Marketing | $719.0K |
| General & Administrative | $4M |
| SG&A Expenses | $4M |
| Other Expenses | $4M |
| Operating Expenses | $10M |
| Cost & Expenses | $35M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$5M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$5M |
| D&A | $1M |
| EBIT | -$2M |
| EBITDA | -$527.0K |
| EPS | -$4 |
| EPS Diluted | -$4 |
| Item | Amount |
|---|---|
| Net Income | -$5M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | -$43.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $4M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | -$827.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4M |
| Short-Term Investments | $0 |
| Net Receivables | $23M |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $30M |
| PP&E (Net) | $8M |
| Goodwill | $0 |
| Intangible Assets | $3M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $13M |
| TOTAL ASSETS | $43M |
| Account Payables | $3M |
| Short-Term Debt | $59M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $26M |
| TOTAL CURRENT LIABILITIES | $88M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $88M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $170M |
| Retained Earnings | -$215M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$45M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$45M |
| TOTAL LIABILITIES & EQUITY | $43M |
| Total Debt | $59M |
| Net Debt | $55M |
