| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $50M | $53M | $47M | -5.9% | 5.4% |
| Op. Income | -$45M | -$10M | -$9M | -333.4% | -382.4% |
| Gross Margin | 93.0% | 95.1% | 88.5% | -2.2pp | 4.5pp |
| Net Margin | -58.9% | -9.2% | -8.7% | -49.7pp | -50.2pp |
| EPS (Diluted) | $-0.50 | $-0.08 | $-0.07 | -491.7% | -596.4% |
| Free Cash Flow | -$34M | -$2M | $8M | -1553.5% | -544.1% |
| Item | Amount |
|---|---|
| REVENUE | $50M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $47M |
| R&D Expenses | $36M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $50M |
| Other Expenses | $5M |
| Operating Expenses | $91M |
| Cost & Expenses | $95M |
| OPERATING INCOME | -$45M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | -$37M |
| Income Tax Expense | -$8M |
| Net Income from Continuing Ops | -$29M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$29M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$29M |
| D&A | $980.0K |
| EBIT | -$32M |
| EBITDA | -$31M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$29M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$8M |
| Other Non-Cash Items | $1M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$33M |
| Capital Expenditure | -$436.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$43M |
| Sales/Maturities of Investments | $88M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $44M |
| Net Debt Issuance | -$409.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$915.0K |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | -$34M |
| Net Change in Cash | $9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $112M |
| Short-Term Investments | $229M |
| Net Receivables | $45M |
| Inventory | $2M |
| Other Current Assets | $20M |
| TOTAL CURRENT ASSETS | $408M |
| PP&E (Net) | $12M |
| Goodwill | $0 |
| Intangible Assets | $112M |
| Long-Term Investments | $0 |
| Tax Assets | $89M |
| Other Non-Current Assets | $10M |
| TOTAL NON-CURRENT ASSETS | $224M |
| TOTAL ASSETS | $632M |
| Account Payables | $6M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $62M |
| TOTAL CURRENT LIABILITIES | $104M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $17M |
| TOTAL LIABILITIES | $121M |
| Common Stock | $59.0K |
| Additional Paid-In Capital | $715M |
| Retained Earnings | -$204M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $383.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $511M |
| Minority Interest | $0 |
| TOTAL EQUITY | $511M |
| TOTAL LIABILITIES & EQUITY | $632M |
| Total Debt | $12M |
| Net Debt | -$100M |
