| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $1M | $2M | 10.1% | -27.8% |
| Op. Income | -$3M | -$2M | -$3M | -36.8% | -6.5% |
| Gross Margin | 18.9% | 27.0% | 22.3% | -8.1pp | -3.4pp |
| Net Margin | -197.0% | -349.3% | -134.4% | 152.3pp | -62.6pp |
| EPS (Diluted) | $-1.82 | $-4.74 | $-6.00 | 61.6% | 69.7% |
| Free Cash Flow | -$2M | -$2M | -$2M | -0.9% | -49.0% |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $301.2K |
| R&D Expenses | $668.8K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $3M |
| Other Expenses | -$267.8K |
| Operating Expenses | $3M |
| Cost & Expenses | $5M |
| OPERATING INCOME | -$3M |
| Interest Income | $19.7K |
| Interest Expense | $13.1K |
| Other Income/Expenses | $2.7K |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | $3.2K |
| 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 | $123.7K |
| EBIT | -$3M |
| EBITDA | -$3M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | -$381.2K |
| Stock-Based Compensation | -$605.4K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$206.2K |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | $60.6K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $263.1K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $16M |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6M |
| Short-Term Investments | $0 |
| Net Receivables | $542.0K |
| Inventory | $53.5K |
| Other Current Assets | $519.9K |
| TOTAL CURRENT ASSETS | $8M |
| PP&E (Net) | $1M |
| Goodwill | $1M |
| Intangible Assets | $716.8K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $12.8K |
| TOTAL NON-CURRENT ASSETS | $3M |
| TOTAL ASSETS | $11M |
| Account Payables | $761.9K |
| Short-Term Debt | $383.9K |
| Deferred Revenue | $42.4K |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $3M |
| Long-Term Debt | $41.3K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $777.0K |
| TOTAL LIABILITIES | $4M |
| Common Stock | $31.5K |
| Additional Paid-In Capital | $76M |
| Retained Earnings | -$69M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7M |
| Minority Interest | $0 |
| TOTAL EQUITY | $7M |
| TOTAL LIABILITIES & EQUITY | $11M |
| Total Debt | $1M |
| Net Debt | -$5M |
