| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $0 | $10M | — | -78.6% |
| Op. Income | -$44M | -$44M | -$18M | 0.9% | -139.4% |
| Gross Margin | 79.1% | — | 100.0% | — | -20.9pp |
| Net Margin | -1213.6% | — | -82.6% | — | -1131.0pp |
| EPS (Diluted) | $-0.62 | $-0.96 | $-0.31 | 35.4% | -100.0% |
| Free Cash Flow | -$33M | -$39M | -$28M | 15.5% | -18.4% |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $446.0K |
| GROSS PROFIT | $2M |
| R&D Expenses | $25M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $21M |
| Other Expenses | $0 |
| Operating Expenses | $45M |
| Cost & Expenses | $46M |
| OPERATING INCOME | -$44M |
| Interest Income | $822.0K |
| Interest Expense | $212.0K |
| Other Income/Expenses | $18M |
| INCOME BEFORE TAX | -$26M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$26M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$26M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$26M |
| D&A | $128.0K |
| EBIT | -$26M |
| EBITDA | -$26M |
| EPS | -$0 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$26M |
| Depreciation & Amortization | $128.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$19M |
| Change in Working Capital | $9M |
| OPERATING CASH FLOW | -$33M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $9M |
| NET CASH FROM FINANCING | $79M |
| FREE CASH FLOW | -$33M |
| Net Change in Cash | $47M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $164M |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $1M |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $174M |
| PP&E (Net) | $984.0K |
| Goodwill | $0 |
| Intangible Assets | $16M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $22M |
| TOTAL ASSETS | $196M |
| Account Payables | $8M |
| Short-Term Debt | $3M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $50M |
| Long-Term Debt | $81M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $29M |
| TOTAL NON-CURRENT LIABILITIES | $110M |
| TOTAL LIABILITIES | $160M |
| Common Stock | $6.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$1.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $36M |
| Minority Interest | $0 |
| TOTAL EQUITY | $36M |
| TOTAL LIABILITIES & EQUITY | $196M |
| Total Debt | $85M |
| Net Debt | -$80M |
