| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $13M | $13M | $12M | 1.6% | 9.7% |
| Op. Income | -$29M | -$11M | -$14M | -151.2% | -112.4% |
| Gross Margin | 55.2% | 64.8% | 61.9% | -9.7pp | -6.8pp |
| Net Margin | -244.8% | -120.6% | -143.7% | -124.2pp | -101.1pp |
| EPS (Diluted) | $-0.26 | $-0.14 | $-0.19 | -85.7% | -36.8% |
| Free Cash Flow | -$9M | -$13M | -$7M | 33.6% | -31.5% |
| Item | Amount |
|---|---|
| REVENUE | $13M |
| Cost of Revenue | $6M |
| GROSS PROFIT | $7M |
| R&D Expenses | $3M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $33M |
| Other Expenses | $0 |
| Operating Expenses | $36M |
| Cost & Expenses | $42M |
| OPERATING INCOME | -$29M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$32M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$32M |
| D&A | -$3M |
| EBIT | -$29M |
| EBITDA | -$35M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$32M |
| Depreciation & Amortization | $130.0K |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $19M |
| OPERATING CASH FLOW | -$8M |
| Capital Expenditure | -$85.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$85.0K |
| Net Debt Issuance | -$5.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$18.0K |
| NET CASH FROM FINANCING | $660.0K |
| FREE CASH FLOW | -$9M |
| Net Change in Cash | -$8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $121M |
| Short-Term Investments | $0 |
| Net Receivables | $18M |
| Inventory | $6M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $149M |
| PP&E (Net) | $9M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $642.0K |
| TOTAL NON-CURRENT ASSETS | $11M |
| TOTAL ASSETS | $160M |
| Account Payables | $30M |
| Short-Term Debt | $12M |
| Deferred Revenue | $1M |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $48M |
| Long-Term Debt | $115M |
| Deferred Revenue NC | $19M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $7M |
| TOTAL NON-CURRENT LIABILITIES | $146M |
| TOTAL LIABILITIES | $194M |
| Common Stock | $122.0K |
| Additional Paid-In Capital | $413M |
| Retained Earnings | -$447M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$34M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$34M |
| TOTAL LIABILITIES & EQUITY | $160M |
| Total Debt | $131M |
| Net Debt | $10M |
