| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $115M | $126M | $121M | -8.7% | -5.0% |
| Op. Income | -$7M | -$12M | -$6M | 46.0% | -2.6% |
| Gross Margin | 63.6% | 62.7% | 62.7% | 0.9pp | 0.8pp |
| Net Margin | -5.3% | -9.1% | -4.0% | 3.8pp | -1.2pp |
| EPS (Diluted) | $-0.03 | $-0.07 | $-0.03 | 47.0% | -24.4% |
| Free Cash Flow | -$12M | -$2M | -$3M | -510.3% | -277.2% |
| Item | Amount |
|---|---|
| REVENUE | $115M |
| Cost of Revenue | $42M |
| GROSS PROFIT | $73M |
| R&D Expenses | $0 |
| Selling & Marketing | $17M |
| General & Administrative | $63M |
| SG&A Expenses | $80M |
| Other Expenses | $0 |
| Operating Expenses | $80M |
| Cost & Expenses | $122M |
| OPERATING INCOME | -$7M |
| Interest Income | $915.0K |
| Interest Expense | $714.0K |
| Other Income/Expenses | $550.0K |
| INCOME BEFORE TAX | -$6M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$6M |
| D&A | $3M |
| EBIT | -$5M |
| EBITDA | -$3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$6M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$13M |
| OPERATING CASH FLOW | -$10M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $165.0K |
| Common Stock Repurchased | -$10M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$924.0K |
| NET CASH FROM FINANCING | -$10M |
| FREE CASH FLOW | -$12M |
| Net Change in Cash | -$22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $94M |
| Short-Term Investments | $0 |
| Net Receivables | $9M |
| Inventory | $88M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $202M |
| PP&E (Net) | $50M |
| Goodwill | $0 |
| Intangible Assets | $5M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $59M |
| TOTAL ASSETS | $261M |
| Account Payables | $20M |
| Short-Term Debt | $43M |
| Deferred Revenue | $21M |
| Other Current Liabilities | $8M |
| TOTAL CURRENT LIABILITIES | $124M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $267.0K |
| TOTAL NON-CURRENT LIABILITIES | $37M |
| TOTAL LIABILITIES | $161M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $504M |
| Retained Earnings | -$380M |
| Treasury Stock | -$25M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $100M |
| Minority Interest | $0 |
| TOTAL EQUITY | $100M |
| TOTAL LIABILITIES & EQUITY | $261M |
| Total Debt | $85M |
| Net Debt | -$9M |
