| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $53M | $51M | $67M | 4.1% | -21.2% |
| Op. Income | -$5M | -$536.7K | $8M | -871.3% | -168.7% |
| Gross Margin | 1.8% | 6.6% | 100.0% | -4.8pp | -98.2pp |
| Net Margin | -358.4% | -7.0% | -3.1% | -351.5pp | -355.4pp |
| EPS (Diluted) | $-105.40 | $-1.97 | $-1.17 | -5250.3% | -8908.5% |
| Free Cash Flow | -$4M | $0 | -$2M | — | -136.8% |
| Item | Amount |
|---|---|
| REVENUE | $53M |
| Cost of Revenue | $52M |
| GROSS PROFIT | $951.0K |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $4M |
| Other Expenses | $2M |
| Operating Expenses | $6M |
| Cost & Expenses | $58M |
| OPERATING INCOME | -$5M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$228M |
| INCOME BEFORE TAX | -$233M |
| Income Tax Expense | -$43M |
| Net Income from Continuing Ops | -$190M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$190M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$190M |
| D&A | $2M |
| EBIT | -$5M |
| EBITDA | -$4M |
| EPS | -$105 |
| EPS Diluted | -$105 |
| Item | Amount |
|---|---|
| Net Income | -$190M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$43M |
| Other Non-Cash Items | $224M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $3M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$3M |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$2.5K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$2.5K |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | -$4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $10M |
| Short-Term Investments | $0 |
| Net Receivables | $45M |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $60M |
| PP&E (Net) | $70M |
| Goodwill | $0 |
| Intangible Assets | $156M |
| Long-Term Investments | $2M |
| Tax Assets | $24M |
| Other Non-Current Assets | $11M |
| TOTAL NON-CURRENT ASSETS | $262M |
| TOTAL ASSETS | $323M |
| Account Payables | $26M |
| Short-Term Debt | $10M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $16M |
| TOTAL CURRENT LIABILITIES | $60M |
| Long-Term Debt | $235M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $43M |
| Other Non-Current Liabilities | $8M |
| TOTAL NON-CURRENT LIABILITIES | $312M |
| TOTAL LIABILITIES | $372M |
| Common Stock | $34.9K |
| Additional Paid-In Capital | $157M |
| Retained Earnings | -$177M |
| Treasury Stock | -$29M |
| Accum. Other Comp. Income | $598.4K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$49M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$49M |
| TOTAL LIABILITIES & EQUITY | $323M |
| Total Debt | $271M |
| Net Debt | $261M |
