| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4M | $3M | $2M | 24.6% | 166.6% |
| Op. Income | -$2M | -$1M | -$1M | -5.5% | -31.2% |
| Gross Margin | 7.6% | 17.7% | 6.3% | -10.1pp | 1.3pp |
| Net Margin | -50.6% | -48.8% | -98.8% | -1.8pp | 48.2pp |
| EPS (Diluted) | $-0.16 | $-0.14 | $-0.26 | -14.3% | 38.5% |
| Free Cash Flow | -$2M | -$1M | -$2M | -75.2% | 9.4% |
| Item | Amount |
|---|---|
| REVENUE | $4M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $305.9K |
| R&D Expenses | $61.7K |
| Selling & Marketing | $520.7K |
| General & Administrative | $1M |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $6M |
| OPERATING INCOME | -$2M |
| Interest Income | $3.7K |
| Interest Expense | $94.8K |
| Other Income/Expenses | -$524.7K |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $157.4K |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $157.4K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $438.1K |
| Change in Working Capital | -$500.6K |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$173.1K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$173.1K |
| Net Debt Issuance | -$508.3K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$51.0K |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | -$195.7K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $616.3K |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $561.2K |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $6M |
| PP&E (Net) | $7M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $9M |
| TOTAL ASSETS | $14M |
| Account Payables | $1M |
| Short-Term Debt | $4M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $6M |
| Long-Term Debt | $3M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $3M |
| TOTAL LIABILITIES | $9M |
| Common Stock | $13.4K |
| Additional Paid-In Capital | $29M |
| Retained Earnings | -$24M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $26.9K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6M |
| Minority Interest | $0 |
| TOTAL EQUITY | $6M |
| TOTAL LIABILITIES & EQUITY | $14M |
| Total Debt | $7M |
| Net Debt | $6M |
