EPS: As of FY2025 Q1, the actual value is USD -1.03.

Segment Revenue

• Total Revenue: The company did not recognize any revenue during the three months ended March 31, 2025, as there were no active revenue-generating projects at the time.

Operational Metrics

• Net Loss: The net loss for the three months ended March 31, 2025, was $6.4 million, compared to a net loss of $15.2 million for the same period in 2024.
• Operating Loss: The operating loss for the three months ended March 31, 2025, was $6.9 million, compared to $16.1 million for the same period in 2024.
• Selling, General and Administrative Expenses: SG&A expenses decreased to $4.6 million for the three months ended March 31, 2025, from $12.4 million for the same period in 2024.
• Research and Development Expenses: R&D expenses decreased to $1.1 million for the three months ended March 31, 2025, from $3.8 million for the same period in 2024.

Cash Flow

• Net Cash Used in Operating Activities: Net cash used in operating activities was $8.4 million for the three months ended March 31, 2025, compared to $14.3 million for the same period in 2024.
• Net Cash Provided by Investing Activities: Net cash provided by investing activities was $54 thousand for the three months ended March 31, 2025, compared to $9.9 million for the same period in 2024.

Unique Metrics

• Impairment and Other Charges: Impairment and other charges for the three months ended March 31, 2025, were $1.2 million, primarily due to a right-of-use asset impairment and costs associated with closing the Manufacturing Facility.

Future Outlook and Strategy

• Core Business Focus: The company is undergoing a significant transition to align its operating structure with a technology-centric business model, prioritizing the commercial deployment of its energy solutions.
• Non-Core Business: The company has closed its Manufacturing Facility and R&D facility, halted construction of the Texas Steam Plant, and is exploring strategic transactions, including acquisitions, divestitures, mergers, or partnerships.
• Priority: The company plans to continue exploring cost-saving opportunities and strategic transactions to alleviate liquidity concerns and align its operations with its technology-centric business model.