| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $17M | $17M | $13M | 0.2% | 37.9% |
| Op. Income | -$3M | -$3M | -$5M | -17.9% | 33.5% |
| Gross Margin | 58.4% | 60.4% | 55.8% | -2.0pp | 2.6pp |
| Net Margin | -41.1% | -25.8% | -40.2% | -15.3pp | -0.9pp |
| EPS (Diluted) | $-0.31 | $-0.21 | $-0.28 | -47.6% | -10.7% |
| Free Cash Flow | $3M | -$3M | -$2M | 186.3% | 214.9% |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $7M |
| GROSS PROFIT | $10M |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $11M |
| Other Expenses | $0 |
| Operating Expenses | $13M |
| Cost & Expenses | $20M |
| OPERATING INCOME | -$3M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$7M |
| Income Tax Expense | $1.0K |
| Net Income from Continuing Ops | -$7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$7M |
| D&A | $466.0K |
| EBIT | -$6M |
| EBITDA | -$5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $612.0K |
| Stock-Based Compensation | $593.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | $3M |
| Capital Expenditure | -$275.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$275.0K |
| Net Debt Issuance | -$535.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | $3M |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $36M |
| Short-Term Investments | $0 |
| Net Receivables | $11M |
| Inventory | $4M |
| Other Current Assets | $43.0K |
| TOTAL CURRENT ASSETS | $53M |
| PP&E (Net) | $9M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $200.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $855.0K |
| TOTAL NON-CURRENT ASSETS | $10M |
| TOTAL ASSETS | $63M |
| Account Payables | $4M |
| Short-Term Debt | $3M |
| Deferred Revenue | $641.0K |
| Other Current Liabilities | $777.0K |
| TOTAL CURRENT LIABILITIES | $13M |
| Long-Term Debt | $22M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $7M |
| TOTAL NON-CURRENT LIABILITIES | $32M |
| TOTAL LIABILITIES | $45M |
| Common Stock | $23.0K |
| Additional Paid-In Capital | $328M |
| Retained Earnings | -$310M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $18M |
| Minority Interest | $0 |
| TOTAL EQUITY | $18M |
| TOTAL LIABILITIES & EQUITY | $63M |
| Total Debt | $28M |
| Net Debt | -$7M |
