| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $37M | $40M | $40M | -7.6% | -5.6% |
| Op. Income | $1M | $1M | $4M | -13.6% | -72.1% |
| Gross Margin | 34.1% | 33.9% | 37.2% | 0.2pp | -3.2pp |
| Net Margin | -41.8% | 0.6% | 6.8% | -42.3pp | -48.6pp |
| EPS (Diluted) | $-2.07 | $0.03 | $0.36 | -7000.0% | -675.0% |
| Free Cash Flow | $2M | -$5M | $7M | 148.9% | -64.3% |
| Item | Amount |
|---|---|
| REVENUE | $37M |
| Cost of Revenue | $25M |
| GROSS PROFIT | $13M |
| R&D Expenses | $2M |
| Selling & Marketing | $6M |
| General & Administrative | $3M |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $12M |
| Cost & Expenses | $36M |
| OPERATING INCOME | $1M |
| Interest Income | $0 |
| Interest Expense | $847.0K |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | -$13M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$16M |
| D&A | $1M |
| EBIT | -$12M |
| EBITDA | -$11M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$16M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $219.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $14M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | $3M |
| Capital Expenditure | -$79.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$79.0K |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$671.0K |
| NET CASH FROM FINANCING | -$2M |
| FREE CASH FLOW | $2M |
| Net Change in Cash | $618.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $0 |
| Net Receivables | $21M |
| Inventory | $48M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $78M |
| PP&E (Net) | $19M |
| Goodwill | $15M |
| Intangible Assets | $24M |
| Long-Term Investments | $0 |
| Tax Assets | $8M |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $68M |
| TOTAL ASSETS | $146M |
| Account Payables | $8M |
| Short-Term Debt | $28M |
| Deferred Revenue | $543.0K |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $46M |
| Long-Term Debt | $19M |
| Deferred Revenue NC | $1M |
| Deferred Tax Liabilities | $40.0K |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $23M |
| TOTAL LIABILITIES | $70M |
| Common Stock | $547.0K |
| Additional Paid-In Capital | $64M |
| Retained Earnings | $49M |
| Treasury Stock | -$35M |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $76M |
| Minority Interest | $0 |
| TOTAL EQUITY | $76M |
| TOTAL LIABILITIES & EQUITY | $146M |
| Total Debt | $49M |
| Net Debt | $43M |
