| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1M | $643.0K | $1M | 112.4% | 28.6% |
| Op. Income | -$2M | -$2M | -$2M | 13.4% | -2.2% |
| Gross Margin | 35.1% | 28.5% | 34.3% | 6.6pp | 0.8pp |
| Net Margin | -184.5% | -307.9% | -169.4% | 123.5pp | -15.1pp |
| EPS (Diluted) | $-0.31 | $-2.20 | $-2.70 | 85.9% | 88.5% |
| Free Cash Flow | -$2M | -$2M | -$2M | 14.9% | -16.4% |
| Item | Amount |
|---|---|
| REVENUE | $1M |
| Cost of Revenue | $887.0K |
| GROSS PROFIT | $479.0K |
| R&D Expenses | $691.0K |
| Selling & Marketing | $711.0K |
| General & Administrative | $675.0K |
| SG&A Expenses | $1M |
| Other Expenses | $73.0K |
| Operating Expenses | $2M |
| Cost & Expenses | $3M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $168.0K |
| Other Income/Expenses | -$849.0K |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$3M |
| D&A | $6.0K |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | $6.0K |
| Stock-Based Compensation | $1.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $927.0K |
| Change in Working Capital | -$468.0K |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$4.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$4.0K |
| Net Debt Issuance | $325.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $5M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4M |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $0 |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $9M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $939.0K |
| TOTAL NON-CURRENT ASSETS | $939.0K |
| TOTAL ASSETS | $10M |
| Account Payables | $817.0K |
| Short-Term Debt | $364.0K |
| Deferred Revenue | $223.0K |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $3M |
| Long-Term Debt | $173.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $1M |
| TOTAL LIABILITIES | $5M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $57M |
| Retained Earnings | -$52M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5M |
| Minority Interest | $0 |
| TOTAL EQUITY | $5M |
| TOTAL LIABILITIES & EQUITY | $10M |
| Total Debt | $537.0K |
| Net Debt | -$4M |
