| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $116M | $110M | $102M | 5.6% | 13.5% |
| Op. Income | -$49M | -$55M | -$68M | 11.1% | 28.0% |
| Gross Margin | 59.6% | 60.7% | 63.9% | -1.1pp | -4.3pp |
| Net Margin | -31.0% | -37.0% | -40.7% | 6.1pp | 9.8pp |
| EPS (Diluted) | $-0.33 | $-0.37 | $-4.30 | 10.8% | 92.3% |
| Free Cash Flow | -$36M | -$32M | -$57M | -14.4% | 36.3% |
| Item | Amount |
|---|---|
| REVENUE | $116M |
| Cost of Revenue | $47M |
| GROSS PROFIT | $69M |
| R&D Expenses | $48M |
| Selling & Marketing | $29M |
| General & Administrative | $41M |
| SG&A Expenses | $70M |
| Other Expenses | $0 |
| Operating Expenses | $118M |
| Cost & Expenses | $165M |
| OPERATING INCOME | -$49M |
| Interest Income | $8M |
| Interest Expense | $1M |
| Other Income/Expenses | $13M |
| INCOME BEFORE TAX | -$36M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$36M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$36M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$36M |
| D&A | $4M |
| EBIT | -$35M |
| EBITDA | -$31M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$36M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $17M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$5M |
| Change in Working Capital | -$12M |
| OPERATING CASH FLOW | -$32M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1M |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | $27M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | $21M |
| FREE CASH FLOW | -$36M |
| Net Change in Cash | -$15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $717M |
| Short-Term Investments | $0 |
| Net Receivables | $105M |
| Inventory | $67M |
| Other Current Assets | $144M |
| TOTAL CURRENT ASSETS | $1.0B |
| PP&E (Net) | $65M |
| Goodwill | $0 |
| Intangible Assets | $58M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $126M |
| TOTAL ASSETS | $1.2B |
| Account Payables | $100M |
| Short-Term Debt | $203M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $52M |
| TOTAL CURRENT LIABILITIES | $360M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $28M |
| TOTAL NON-CURRENT LIABILITIES | $39M |
| TOTAL LIABILITIES | $399M |
| Common Stock | $7.0K |
| Additional Paid-In Capital | $3.3B |
| Retained Earnings | -$2.6B |
| Treasury Stock | -$29M |
| Accum. Other Comp. Income | $40M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $760M |
| Minority Interest | $0 |
| TOTAL EQUITY | $760M |
| TOTAL LIABILITIES & EQUITY | $1.2B |
| Total Debt | $219M |
| Net Debt | -$498M |
