Financial Overview:
- Revenue: $2.82 million, a 27.81% increase QoQ but down 29.26% YoY.
- Gross Profit: $1.27 million, gross profit margin at 44.9%, a significant recovery QoQ from a loss in Q2.
- Operating Expenses: $16.82 million, driven primarily by R&D costs of $9.11 million and SG&A expenses of $7.71 million.
- Net Income: $-14.21 million, marking a margin of -5.04%.
- EBITDA: $-15.55 million, EBITDARatio at -5.51%.
- Cash Position: $28.2 million after a $24.08 million net increase in cash.
The solid cash position coupled with a liquidity ratio indicates Tonix's capability to finance ongoing R&D initiatives without immediate financial distress. However, the substantial net losses highlight underlying operational inefficiencies and high burn rates, which warrant attention from investors.
Additionally, the current ratio stands strong at 3.33, suggesting adequate short-term financial health compared to industry peers.