| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1M | $3M | $9M | -60.7% | -85.9% |
| Op. Income | -$23M | -$17M | -$100M | -32.6% | 77.2% |
| Gross Margin | 162.0% | 83.7% | -1.0% | 78.3pp | 163.0pp |
| Net Margin | -1528.6% | -443.0% | -1048.2% | -1085.6pp | -480.3pp |
| EPS (Diluted) | $-0.16 | $-0.12 | $-1.01 | -33.3% | 84.2% |
| Free Cash Flow | -$13M | -$11M | -$45M | -19.5% | 70.8% |
| Item | Amount |
|---|---|
| REVENUE | $1M |
| Cost of Revenue | -$803.0K |
| GROSS PROFIT | $2M |
| R&D Expenses | $17M |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | $3M |
| Operating Expenses | $25M |
| Cost & Expenses | $24M |
| OPERATING INCOME | -$23M |
| Interest Income | $2M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$20M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$20M |
| D&A | $102.0K |
| EBIT | -$20M |
| EBITDA | -$20M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$20M |
| Depreciation & Amortization | $102.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $400.0K |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | -$13M |
| Capital Expenditure | $44.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $25M |
| Sales/Maturities of Investments | -$44M |
| Other Investing Activities | $29M |
| NET CASH FROM INVESTING | $10M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$275.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | -$13M |
| Net Change in Cash | -$5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $20M |
| Short-Term Investments | $71M |
| Net Receivables | $6M |
| Inventory | $0 |
| Other Current Assets | $55M |
| TOTAL CURRENT ASSETS | $151M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $61M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$52M |
| TOTAL NON-CURRENT ASSETS | $9M |
| TOTAL ASSETS | $160M |
| Account Payables | $13M |
| Short-Term Debt | $551.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $15M |
| TOTAL CURRENT LIABILITIES | $29M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $16M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $11M |
| TOTAL NON-CURRENT LIABILITIES | $29M |
| TOTAL LIABILITIES | $57M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$968M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $610.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $103M |
| Minority Interest | $0 |
| TOTAL EQUITY | $103M |
| TOTAL LIABILITIES & EQUITY | $160M |
| Total Debt | $2M |
| Net Debt | -$18M |
