| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $34M | $57M | $54M | -39.1% | -35.8% |
| Op. Income | -$43M | -$13M | -$15M | -241.4% | -198.1% |
| Gross Margin | 18.7% | 50.1% | 44.0% | -31.4pp | -25.3pp |
| Net Margin | -150.8% | -24.0% | -20.2% | -126.8pp | -130.7pp |
| EPS (Diluted) | $-0.61 | $-0.18 | $-0.15 | -246.7% | -300.0% |
| Free Cash Flow | -$21M | -$5M | -$31M | -347.2% | 31.4% |
| Item | Amount |
|---|---|
| REVENUE | $34M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $6M |
| R&D Expenses | $32M |
| Selling & Marketing | $10M |
| General & Administrative | $12M |
| SG&A Expenses | $22M |
| Other Expenses | -$4M |
| Operating Expenses | $50M |
| Cost & Expenses | $78M |
| OPERATING INCOME | -$43M |
| Interest Income | $988.0K |
| Interest Expense | $7M |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | -$51M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$52M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$52M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$52M |
| D&A | $0 |
| EBIT | -$44M |
| EBITDA | -$44M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$52M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $19M |
| Change in Working Capital | $12M |
| OPERATING CASH FLOW | -$20M |
| Capital Expenditure | -$781.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $1M |
| NET CASH FROM INVESTING | $230.3K |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | -$650.1K |
| FREE CASH FLOW | -$21M |
| Net Change in Cash | -$21M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $168M |
| Short-Term Investments | $0 |
| Net Receivables | $23M |
| Inventory | $75M |
| Other Current Assets | $47M |
| TOTAL CURRENT ASSETS | $314M |
| PP&E (Net) | $166M |
| Goodwill | $0 |
| Intangible Assets | $27M |
| Long-Term Investments | $0 |
| Tax Assets | $9M |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $210M |
| TOTAL ASSETS | $524M |
| Account Payables | $35M |
| Short-Term Debt | $69M |
| Deferred Revenue | $494.6K |
| Other Current Liabilities | $46M |
| TOTAL CURRENT LIABILITIES | $176M |
| Long-Term Debt | $127M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $11M |
| TOTAL NON-CURRENT LIABILITIES | $172M |
| TOTAL LIABILITIES | $348M |
| Common Stock | $30M |
| Additional Paid-In Capital | $786M |
| Retained Earnings | -$736M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $95M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $176M |
| Minority Interest | $0 |
| TOTAL EQUITY | $176M |
| TOTAL LIABILITIES & EQUITY | $524M |
| Total Debt | $229M |
| Net Debt | $61M |
