| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $8M | — | $103.2K | — | 7354.1% |
| Op. Income | -$6M | — | -$27M | — | 78.5% |
| Gross Margin | 96.3% | — | -797.5% | — | 893.8pp |
| Net Margin | -53.9% | — | -24144.7% | — | 24090.8pp |
| EPS (Diluted) | $-0.11 | — | $-0.71 | — | 84.5% |
| Free Cash Flow | -$5M | — | -$23M | — | 80.2% |
| Item | Amount |
|---|---|
| REVENUE | $8M |
| Cost of Revenue | $282.3K |
| GROSS PROFIT | $7M |
| R&D Expenses | $10M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $3M |
| Other Expenses | $0 |
| Operating Expenses | $13M |
| Cost & Expenses | $13M |
| OPERATING INCOME | -$6M |
| Interest Income | $1M |
| Interest Expense | $145.1K |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | -$299.2K |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $282.3K |
| EBIT | -$6M |
| EBITDA | -$5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $282.3K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | -$14.6K |
| Acquisitions (Net) | $1.4K |
| Purchases of Investments | -$40M |
| Sales/Maturities of Investments | $40M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $236.0K |
| Net Debt Issuance | -$629.4K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $16M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | $12M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $75M |
| Short-Term Investments | $0 |
| Net Receivables | $17.3K |
| Inventory | $0 |
| Other Current Assets | $1M |
| TOTAL CURRENT ASSETS | $77M |
| PP&E (Net) | $862.9K |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $25.2K |
| TOTAL NON-CURRENT ASSETS | $888.1K |
| TOTAL ASSETS | $78M |
| Account Payables | $3M |
| Short-Term Debt | $5M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $232.2K |
| TOTAL CURRENT LIABILITIES | $25M |
| Long-Term Debt | $1M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $17M |
| TOTAL NON-CURRENT LIABILITIES | $18M |
| TOTAL LIABILITIES | $43M |
| Common Stock | $5.9K |
| Additional Paid-In Capital | $366M |
| Retained Earnings | -$329M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $35M |
| Minority Interest | $0 |
| TOTAL EQUITY | $35M |
| TOTAL LIABILITIES & EQUITY | $78M |
| Total Debt | $6M |
| Net Debt | -$68M |
