| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1M | $975.0K | $230.0K | 30.5% | 453.0% |
| Op. Income | -$2M | -$3M | -$4M | 21.2% | 38.8% |
| Gross Margin | 35.4% | 34.7% | -33.0% | 0.7pp | 68.4pp |
| Net Margin | -166.1% | -285.9% | -1483.5% | 119.8pp | 1317.4pp |
| EPS (Diluted) | $-1.31 | $-2.35 | $-15.00 | 44.2% | 91.3% |
| Free Cash Flow | -$2M | -$3M | -$4M | 14.6% | 39.9% |
| Item | Amount |
|---|---|
| REVENUE | $1M |
| Cost of Revenue | $822.0K |
| GROSS PROFIT | $450.0K |
| R&D Expenses | $897.0K |
| Selling & Marketing | $499.0K |
| General & Administrative | $1M |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $3M |
| Cost & Expenses | $3M |
| OPERATING INCOME | -$2M |
| Interest Income | $88.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $78.0K |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $25.0K |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $25.0K |
| Stock-Based Compensation | $40.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $18.0K |
| Change in Working Capital | -$436.0K |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$6.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$6.0K |
| Net Debt Issuance | -$114.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$102.0K |
| NET CASH FROM FINANCING | $7M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $13M |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $1M |
| Other Current Assets | $1M |
| TOTAL CURRENT ASSETS | $17M |
| PP&E (Net) | $1M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $1M |
| TOTAL ASSETS | $18M |
| Account Payables | $1M |
| Short-Term Debt | $594.0K |
| Deferred Revenue | $16.0K |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $3M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $715.0K |
| TOTAL LIABILITIES | $4M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $422M |
| Retained Earnings | -$409M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $14M |
| Minority Interest | $0 |
| TOTAL EQUITY | $14M |
| TOTAL LIABILITIES & EQUITY | $18M |
| Total Debt | $1M |
| Net Debt | -$12M |
