| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $57M | $58M | $44M | -1.8% | 27.0% |
| Op. Income | -$13M | -$7M | -$25M | -82.4% | 49.5% |
| Gross Margin | 50.1% | 53.2% | 38.3% | -3.1pp | 11.8pp |
| Net Margin | -24.0% | -18.8% | -65.5% | -5.2pp | 41.5pp |
| EPS (Diluted) | $-0.18 | $-0.14 | $-0.44 | -25.0% | 60.5% |
| Free Cash Flow | -$5M | -$11M | -$44M | 57.9% | 89.2% |
| Item | Amount |
|---|---|
| REVENUE | $57M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $28M |
| R&D Expenses | $20M |
| Selling & Marketing | $12M |
| General & Administrative | $12M |
| SG&A Expenses | $23M |
| Other Expenses | -$3M |
| Operating Expenses | $41M |
| Cost & Expenses | $69M |
| OPERATING INCOME | -$13M |
| Interest Income | $604.5K |
| Interest Expense | $7M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | -$14M |
| Income Tax Expense | -$260.7K |
| Net Income from Continuing Ops | -$14M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$14M |
| D&A | $0 |
| EBIT | -$7M |
| EBITDA | -$7M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$14M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $9M |
| Change in Working Capital | $1M |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $682.8K |
| NET CASH FROM INVESTING | -$796.2K |
| Net Debt Issuance | -$817.3K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $18M |
| NET CASH FROM FINANCING | $17M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | $10M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $189M |
| Short-Term Investments | $0 |
| Net Receivables | $28M |
| Inventory | $72M |
| Other Current Assets | $44M |
| TOTAL CURRENT ASSETS | $333M |
| PP&E (Net) | $172M |
| Goodwill | $0 |
| Intangible Assets | $28M |
| Long-Term Investments | $0 |
| Tax Assets | $9M |
| Other Non-Current Assets | $10M |
| TOTAL NON-CURRENT ASSETS | $220M |
| TOTAL ASSETS | $553M |
| Account Payables | $7M |
| Short-Term Debt | $54M |
| Deferred Revenue | $608.0K |
| Other Current Liabilities | $41M |
| TOTAL CURRENT LIABILITIES | $147M |
| Long-Term Debt | $143M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $10M |
| TOTAL NON-CURRENT LIABILITIES | $188M |
| TOTAL LIABILITIES | $335M |
| Common Stock | $30M |
| Additional Paid-In Capital | $779M |
| Retained Earnings | -$684M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $93M |
| Other Equity | $1.2K |
| TOTAL STOCKHOLDERS' EQUITY | $218M |
| Minority Interest | $0 |
| TOTAL EQUITY | $218M |
| TOTAL LIABILITIES & EQUITY | $553M |
| Total Debt | $230M |
| Net Debt | $42M |
