| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $76M | $80M | $67M | -5.5% | 12.2% |
| Op. Income | -$11M | -$6M | -$13M | -84.1% | 18.6% |
| Gross Margin | 55.3% | 52.7% | 54.4% | 2.6pp | 0.9pp |
| Net Margin | -14.4% | -7.5% | -19.0% | -6.9pp | 4.6pp |
| EPS (Diluted) | $-0.26 | $-0.15 | $-0.31 | -73.3% | 16.1% |
| Free Cash Flow | -$17M | $18M | -$19M | -192.3% | 14.0% |
| Item | Amount |
|---|---|
| REVENUE | $76M |
| Cost of Revenue | $34M |
| GROSS PROFIT | $42M |
| R&D Expenses | $6M |
| Selling & Marketing | $28M |
| General & Administrative | $13M |
| SG&A Expenses | $41M |
| Other Expenses | $5M |
| Operating Expenses | $53M |
| Cost & Expenses | $86M |
| OPERATING INCOME | -$11M |
| Interest Income | $0 |
| Interest Expense | $4.0K |
| Other Income/Expenses | -$182.0K |
| INCOME BEFORE TAX | -$11M |
| Income Tax Expense | $65.0K |
| Net Income from Continuing Ops | -$11M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$11M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$11M |
| D&A | $6M |
| EBIT | -$11M |
| EBITDA | -$5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$11M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | -$16.0K |
| Other Non-Cash Items | $790.0K |
| Change in Working Capital | -$16M |
| OPERATING CASH FLOW | -$16M |
| Capital Expenditure | -$731.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$820.0K |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$91.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $143.0K |
| FREE CASH FLOW | -$17M |
| Net Change in Cash | -$17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $39M |
| Short-Term Investments | $0 |
| Net Receivables | $43M |
| Inventory | $62M |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $157M |
| PP&E (Net) | $31M |
| Goodwill | $0 |
| Intangible Assets | $68M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $10M |
| TOTAL NON-CURRENT ASSETS | $109M |
| TOTAL ASSETS | $266M |
| Account Payables | $32M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $68M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $4M |
| Other Non-Current Liabilities | $14M |
| TOTAL NON-CURRENT LIABILITIES | $19M |
| TOTAL LIABILITIES | $87M |
| Common Stock | $386.0K |
| Additional Paid-In Capital | $626M |
| Retained Earnings | -$440M |
| Treasury Stock | -$7M |
| Accum. Other Comp. Income | $61.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $179M |
| Minority Interest | $0 |
| TOTAL EQUITY | $179M |
| TOTAL LIABILITIES & EQUITY | $266M |
| Total Debt | $0 |
| Net Debt | -$39M |
