| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $94M | $128M | $102M | -26.3% | -7.5% |
| Op. Income | -$11M | $4M | -$2M | -367.2% | -426.4% |
| Gross Margin | 28.3% | 30.6% | 33.9% | -2.3pp | -5.7pp |
| Net Margin | -23.1% | 0.9% | -3.9% | -24.0pp | -19.2pp |
| EPS (Diluted) | $-0.18 | $0.01 | $-0.04 | -1847.6% | -355.7% |
| Free Cash Flow | $8M | -$13M | -$8M | 163.7% | 199.3% |
| Item | Amount |
|---|---|
| REVENUE | $94M |
| Cost of Revenue | $67M |
| GROSS PROFIT | $27M |
| R&D Expenses | $11M |
| Selling & Marketing | $12M |
| General & Administrative | $15M |
| SG&A Expenses | $26M |
| Other Expenses | $0 |
| Operating Expenses | $38M |
| Cost & Expenses | $105M |
| OPERATING INCOME | -$11M |
| Interest Income | $272.0K |
| Interest Expense | $8M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | -$21M |
| Income Tax Expense | $471.0K |
| Net Income from Continuing Ops | -$22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$22M |
| D&A | $3M |
| EBIT | -$13M |
| EBITDA | -$10M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$22M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$6.0K |
| Other Non-Cash Items | $9M |
| Change in Working Capital | $21M |
| OPERATING CASH FLOW | $12M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | -$475.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$475.0K |
| FREE CASH FLOW | $8M |
| Net Change in Cash | $8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $64M |
| Short-Term Investments | $0 |
| Net Receivables | $61M |
| Inventory | $156M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $301M |
| PP&E (Net) | $61M |
| Goodwill | $58M |
| Intangible Assets | $12M |
| Long-Term Investments | $12M |
| Tax Assets | $738.0K |
| Other Non-Current Assets | $11M |
| TOTAL NON-CURRENT ASSETS | $156M |
| TOTAL ASSETS | $457M |
| Account Payables | $42M |
| Short-Term Debt | $13M |
| Deferred Revenue | $92M |
| Other Current Liabilities | $23M |
| TOTAL CURRENT LIABILITIES | $195M |
| Long-Term Debt | $127M |
| Deferred Revenue NC | $26M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $16M |
| TOTAL NON-CURRENT LIABILITIES | $200M |
| TOTAL LIABILITIES | $395M |
| Common Stock | $113.0K |
| Additional Paid-In Capital | $605M |
| Retained Earnings | -$541M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $62M |
| Minority Interest | $0 |
| TOTAL EQUITY | $62M |
| TOTAL LIABILITIES & EQUITY | $457M |
| Total Debt | $179M |
| Net Debt | $115M |
