| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $650.0K | $378.0K | $665.0K | 72.0% | -2.3% |
| Op. Income | -$36M | -$30M | -$30M | -19.9% | -21.4% |
| Gross Margin | -335.1% | 100.0% | -2452.9% | -435.1pp | 2117.9pp |
| Net Margin | -4548.0% | -7594.2% | -4358.3% | 3046.2pp | -189.7pp |
| EPS (Diluted) | $-0.20 | $-0.20 | $-0.25 | 0.0% | 20.0% |
| Free Cash Flow | -$29M | -$26M | -$17M | -11.9% | -71.2% |
| Item | Amount |
|---|---|
| REVENUE | $650.0K |
| Cost of Revenue | $3M |
| GROSS PROFIT | -$2M |
| R&D Expenses | $25M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $34M |
| Cost & Expenses | $37M |
| OPERATING INCOME | -$36M |
| Interest Income | $0 |
| Interest Expense | $29.0K |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$30M |
| Income Tax Expense | -$162.0K |
| Net Income from Continuing Ops | -$30M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$30M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$30M |
| D&A | $3M |
| EBIT | -$37M |
| EBITDA | -$34M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$30M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | -$801.0K |
| OPERATING CASH FLOW | -$29M |
| Capital Expenditure | $103.0K |
| Acquisitions (Net) | $129.0K |
| Purchases of Investments | $15M |
| Sales/Maturities of Investments | $4M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $20M |
| Net Debt Issuance | -$500.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | -$6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $20M |
| Short-Term Investments | $124M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $150M |
| PP&E (Net) | $24M |
| Goodwill | $0 |
| Intangible Assets | $42M |
| Long-Term Investments | $1M |
| Tax Assets | $0 |
| Other Non-Current Assets | $383.0K |
| TOTAL NON-CURRENT ASSETS | $67M |
| TOTAL ASSETS | $216M |
| Account Payables | $3M |
| Short-Term Debt | $3M |
| Deferred Revenue | $739.0K |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $23M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $436.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $4M |
| TOTAL LIABILITIES | $27M |
| Common Stock | $15.0K |
| Additional Paid-In Capital | $814M |
| Retained Earnings | -$625M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $591.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $189M |
| Minority Interest | $0 |
| TOTAL EQUITY | $189M |
| TOTAL LIABILITIES & EQUITY | $216M |
| Total Debt | $5M |
| Net Debt | -$15M |
