| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $72M | $94M | $47M | -23.7% | 51.0% |
| Op. Income | -$13M | $10M | -$34M | -224.1% | 62.3% |
| Gross Margin | 74.6% | 80.7% | 62.0% | -6.1pp | 12.6pp |
| Net Margin | -18.9% | 10.2% | -71.0% | -29.1pp | 52.0pp |
| EPS (Diluted) | $-0.09 | $0.06 | $-0.23 | -253.8% | 60.9% |
| Free Cash Flow | $1M | -$8M | -$13M | 118.8% | 111.3% |
| Item | Amount |
|---|---|
| REVENUE | $72M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $53M |
| R&D Expenses | $22M |
| Selling & Marketing | $24M |
| General & Administrative | $20M |
| SG&A Expenses | $44M |
| Other Expenses | $429.0K |
| Operating Expenses | $66M |
| Cost & Expenses | $84M |
| OPERATING INCOME | -$13M |
| Interest Income | $2M |
| Interest Expense | $3M |
| Other Income/Expenses | -$806.0K |
| INCOME BEFORE TAX | -$14M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$14M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$14M |
| D&A | $4M |
| EBIT | -$11M |
| EBITDA | -$6M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$14M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $13M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $5M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | $2M |
| Capital Expenditure | -$636.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$47M |
| Sales/Maturities of Investments | $39M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$8M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $22M |
| FREE CASH FLOW | $1M |
| Net Change in Cash | $15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $70M |
| Short-Term Investments | $156M |
| Net Receivables | $50M |
| Inventory | $10M |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $300M |
| PP&E (Net) | $75M |
| Goodwill | $119M |
| Intangible Assets | $2M |
| Long-Term Investments | $16M |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $213M |
| TOTAL ASSETS | $513M |
| Account Payables | $6M |
| Short-Term Debt | $14M |
| Deferred Revenue | $45M |
| Other Current Liabilities | $8M |
| TOTAL CURRENT LIABILITIES | $90M |
| Long-Term Debt | $197M |
| Deferred Revenue NC | $1M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$70M |
| TOTAL NON-CURRENT LIABILITIES | $198M |
| TOTAL LIABILITIES | $288M |
| Common Stock | $15.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $253.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $219M |
| Minority Interest | $6M |
| TOTAL EQUITY | $225M |
| TOTAL LIABILITIES & EQUITY | $513M |
| Total Debt | $281M |
| Net Debt | $210M |
