| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5M | $6M | $30M | -19.7% | -82.4% |
| Op. Income | -$37M | -$35M | -$15M | -5.6% | -143.8% |
| Gross Margin | 100.0% | 100.0% | -8.0% | 0.0pp | 108.0pp |
| Net Margin | -642.0% | -479.2% | -34.3% | -162.7pp | -607.7pp |
| EPS (Diluted) | $-0.57 | $-0.53 | $-0.18 | -7.5% | -216.7% |
| Free Cash Flow | -$34M | -$39M | -$33M | 10.9% | -5.6% |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $5M |
| R&D Expenses | $31M |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $42M |
| Cost & Expenses | $42M |
| OPERATING INCOME | -$37M |
| Interest Income | $3M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$33M |
| Income Tax Expense | $15.0K |
| Net Income from Continuing Ops | -$33M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$33M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$33M |
| D&A | $1M |
| EBIT | -$37M |
| EBITDA | -$36M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$33M |
| Depreciation & Amortization | -$724.0K |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$5M |
| OPERATING CASH FLOW | -$33M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$38M |
| Sales/Maturities of Investments | $41M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $2M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $513.0K |
| FREE CASH FLOW | -$34M |
| Net Change in Cash | -$31M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $44M |
| Short-Term Investments | $172M |
| Net Receivables | $3M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $228M |
| PP&E (Net) | $45M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $46M |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $94M |
| TOTAL ASSETS | $322M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $21M |
| TOTAL CURRENT LIABILITIES | $42M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $36M |
| TOTAL LIABILITIES | $78M |
| Common Stock | $56.0K |
| Additional Paid-In Capital | $635M |
| Retained Earnings | -$391M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$221.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $244M |
| Minority Interest | $0 |
| TOTAL EQUITY | $244M |
| TOTAL LIABILITIES & EQUITY | $322M |
| Total Debt | $40M |
| Net Debt | -$4M |
