| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $152M | $136M | $130M | 11.5% | 16.7% |
| Op. Income | -$35M | -$44M | -$32M | 20.7% | -10.1% |
| Gross Margin | 79.5% | 78.7% | 82.8% | 0.7pp | -3.3pp |
| Net Margin | -23.5% | -26.2% | -18.4% | 2.7pp | -5.2pp |
| EPS (Diluted) | $-0.32 | $-0.32 | $-0.21 | 0.0% | -52.4% |
| Free Cash Flow | $18M | $65M | $11M | -72.0% | 67.8% |
| Item | Amount |
|---|---|
| REVENUE | $152M |
| Cost of Revenue | $31M |
| GROSS PROFIT | $121M |
| R&D Expenses | $56M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $100M |
| Other Expenses | $0 |
| Operating Expenses | $156M |
| Cost & Expenses | $187M |
| OPERATING INCOME | -$35M |
| Interest Income | $5M |
| Interest Expense | $0 |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | -$32M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | -$36M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$36M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$36M |
| D&A | $3M |
| EBIT | -$32M |
| EBITDA | -$29M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$36M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $34M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $17M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | $21M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$60M |
| Sales/Maturities of Investments | $136M |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | $70M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$39M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | -$45M |
| FREE CASH FLOW | $18M |
| Net Change in Cash | $46M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $199M |
| Short-Term Investments | $608M |
| Net Receivables | $150M |
| Inventory | $0 |
| Other Current Assets | $111M |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $75M |
| Goodwill | $40M |
| Intangible Assets | $6M |
| Long-Term Investments | $377M |
| Tax Assets | $0 |
| Other Non-Current Assets | $49M |
| TOTAL NON-CURRENT ASSETS | $547M |
| TOTAL ASSETS | $1.6B |
| Account Payables | $7M |
| Short-Term Debt | $263M |
| Deferred Revenue | $323M |
| Other Current Liabilities | $179M |
| TOTAL CURRENT LIABILITIES | $771M |
| Long-Term Debt | $451M |
| Deferred Revenue NC | $108.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $11M |
| TOTAL NON-CURRENT LIABILITIES | $502M |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $112.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$812M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $14M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $341M |
| Minority Interest | $0 |
| TOTAL EQUITY | $341M |
| TOTAL LIABILITIES & EQUITY | $1.6B |
| Total Debt | $754M |
| Net Debt | $554M |
