| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1M | $1M | $481.0K | 5.2% | 187.9% |
| Op. Income | -$2M | -$968.7K | -$731.0K | -66.0% | -120.0% |
| Gross Margin | 49.4% | 56.6% | 34.5% | -7.2pp | 14.9pp |
| Net Margin | -107.8% | -65.2% | -151.8% | -42.6pp | 44.0pp |
| EPS (Diluted) | $-0.09 | $-0.05 | $-0.06 | -70.7% | -54.2% |
| Free Cash Flow | -$1M | -$141.1K | -$933.0K | -626.2% | -9.9% |
| Item | Amount |
|---|---|
| REVENUE | $1M |
| Cost of Revenue | $701.0K |
| GROSS PROFIT | $684.0K |
| R&D Expenses | $606.0K |
| Selling & Marketing | $0 |
| General & Administrative | $2M |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $3M |
| OPERATING INCOME | -$2M |
| Interest Income | $115.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $115.0K |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1M |
| D&A | $102.0K |
| EBIT | -$1M |
| EBITDA | -$1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$1M |
| Depreciation & Amortization | $102.0K |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $0 |
| Change in Working Capital | -$480.0K |
| OPERATING CASH FLOW | -$815.0K |
| Capital Expenditure | -$210.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$210.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $23M |
| FREE CASH FLOW | -$1M |
| Net Change in Cash | $22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $26M |
| Short-Term Investments | $12M |
| Net Receivables | $1M |
| Inventory | $0 |
| Other Current Assets | $829.0K |
| TOTAL CURRENT ASSETS | $40M |
| PP&E (Net) | $2M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $24.0K |
| TOTAL NON-CURRENT ASSETS | $2M |
| TOTAL ASSETS | $43M |
| Account Payables | $273.0K |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $768.0K |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $992.0K |
| TOTAL LIABILITIES | $2M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $59M |
| Retained Earnings | -$18M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $41M |
| Minority Interest | $0 |
| TOTAL EQUITY | $41M |
| TOTAL LIABILITIES & EQUITY | $43M |
| Total Debt | $1M |
| Net Debt | -$25M |
