### Revenue Performance
- Total revenue: $22.29 million, a 24.98% year-over-year increase and 10.81% quarter-over-quarter rise. This indicates a positive growth trajectory in demand.
- Gross profit: Recorded at $6.58 million, with a gross profit margin of 29.5%.
### Profitability Assessment
- Net Income: A loss of $16.28 million, reflecting a decline of 1,187.17% YoY and 1,546.13% QoQ, indicating deteriorating profitability despite revenue increases.
- Operating Income: Registered a loss of $15.82 million, a significant increase in losses, revealing excessive operational costs relative to revenues.
### Balance Sheet Overview
- Cash and Cash Equivalents: Totaling $44.69 million with a current ratio of 4.79, showcasing good short-term liquidity.
- Total Assets: $57.84 million against total liabilities of $12.02 million, demonstrating a solid equity foundation.
### Cash Flow Examination
- Operating cash flow was minimal at $14.55 thousand due to high operational burn, contrasting sharply with net cash used in investing activities of -$1.29 million.