Reported September 16, 2025
| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $75M | — | $77M | — | -3.6% |
| Op. Income | -$11M | — | $6M | — | -281.1% |
| Gross Margin | 32.2% | — | 36.5% | — | -4.3pp |
| Net Margin | -10.8% | — | 5.6% | — | -16.4pp |
| EPS (Diluted) | $-0.15 | — | $0.08 | — | -282.5% |
| Free Cash Flow | -$5M | — | -$3M | — | -68.9% |
| Item | Amount |
|---|---|
| REVENUE | $75M |
| Cost of Revenue | $51M |
| GROSS PROFIT | $24M |
| R&D Expenses | $7M |
| Selling & Marketing | $19M |
| General & Administrative | $8M |
| SG&A Expenses | $27M |
| Other Expenses | $0 |
| Operating Expenses | $35M |
| Cost & Expenses | $85M |
| OPERATING INCOME | -$11M |
| Interest Income | $0 |
| Interest Expense | $12.0K |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$8M |
| Income Tax Expense | $207.0K |
| Net Income from Continuing Ops | -$8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$8M |
| D&A | $704.0K |
| EBIT | -$11M |
| EBITDA | -$10M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$8M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$6M |
| Change in Working Capital | -$734.0K |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | -$400.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$3M |
| Sales/Maturities of Investments | $6M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $3M |
| Net Debt Issuance | $8M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $8M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | $7M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $52M |
| Short-Term Investments | $3M |
| Net Receivables | $37M |
| Inventory | $14M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $114M |
| PP&E (Net) | $14M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $12M |
| TOTAL NON-CURRENT ASSETS | $26M |
| TOTAL ASSETS | $140M |
| Account Payables | $22M |
| Short-Term Debt | $42M |
| Deferred Revenue | $455.0K |
| Other Current Liabilities | $628.0K |
| TOTAL CURRENT LIABILITIES | $77M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $5M |
| TOTAL LIABILITIES | $82M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $26M |
| Retained Earnings | $28M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $58M |
| Minority Interest | $0 |
| TOTAL EQUITY | $58M |
| TOTAL LIABILITIES & EQUITY | $140M |
| Total Debt | $48M |
| Net Debt | -$4M |