| Metric | Q2 2026 | Q1 2026 | Q2 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $258.0K | $244.0K | $183.0K | 5.7% | 41.0% |
| Op. Income | -$20M | -$16M | -$14M | -26.9% | -41.0% |
| Gross Margin | 100.0% | 30.7% | 100.0% | 69.3pp | 0.0pp |
| Net Margin | -7526.0% | -6186.5% | -7082.5% | -1339.5pp | -443.5pp |
| EPS (Diluted) | $-0.54 | $-0.47 | $-0.42 | -14.9% | -28.6% |
| Free Cash Flow | -$14M | -$19M | -$11M | 26.7% | -27.4% |
| Item | Amount |
|---|---|
| REVENUE | $258.0K |
| Cost of Revenue | $0 |
| GROSS PROFIT | $258.0K |
| R&D Expenses | $16M |
| Selling & Marketing | $0 |
| General & Administrative | $4M |
| SG&A Expenses | $4M |
| Other Expenses | $0 |
| Operating Expenses | $20M |
| Cost & Expenses | $20M |
| OPERATING INCOME | -$20M |
| Interest Income | $630.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $636.0K |
| INCOME BEFORE TAX | -$19M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$19M |
| D&A | $185.0K |
| EBIT | -$19M |
| EBITDA | -$19M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$19M |
| Depreciation & Amortization | $185.0K |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$146.0K |
| Change in Working Capital | $5M |
| OPERATING CASH FLOW | -$14M |
| Capital Expenditure | -$60.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$2M |
| Sales/Maturities of Investments | $2M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$94.0K |
| Net Debt Issuance | -$274.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $28M |
| FREE CASH FLOW | -$14M |
| Net Change in Cash | $14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $63M |
| Short-Term Investments | $14M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $79M |
| PP&E (Net) | $2M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $405.0K |
| TOTAL NON-CURRENT ASSETS | $2M |
| TOTAL ASSETS | $81M |
| Account Payables | $2M |
| Short-Term Debt | $658.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $14M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $336.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $946.0K |
| TOTAL LIABILITIES | $15M |
| Common Stock | $39.0K |
| Additional Paid-In Capital | $512M |
| Retained Earnings | -$442M |
| Treasury Stock | -$4M |
| Accum. Other Comp. Income | $14.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $66M |
| Minority Interest | $0 |
| TOTAL EQUITY | $66M |
| TOTAL LIABILITIES & EQUITY | $81M |
| Total Debt | $2M |
| Net Debt | -$61M |
