| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $22M | $24M | $37M | -6.6% | -39.5% |
| Op. Income | -$3M | -$16M | -$4M | 82.1% | 19.3% |
| Gross Margin | 35.9% | 30.6% | 29.0% | 5.3pp | 6.9pp |
| Net Margin | -14.5% | -69.6% | -19.1% | 55.2pp | 4.6pp |
| EPS (Diluted) | $-8.46 | $-51.84 | $-22.86 | 83.7% | 63.0% |
| Free Cash Flow | -$5M | $1M | -$2M | -437.8% | -105.8% |
| Item | Amount |
|---|---|
| REVENUE | $22M |
| Cost of Revenue | $14M |
| GROSS PROFIT | $8M |
| R&D Expenses | $912.0K |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $11M |
| Cost & Expenses | $25M |
| OPERATING INCOME | -$3M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$485.0K |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | -$150.0K |
| 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 | -$4M |
| D&A | $2M |
| EBIT | -$906.0K |
| EBITDA | $2M |
| EPS | -$8 |
| EPS Diluted | -$8 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $169.0K |
| Deferred Income Tax | -$10.0K |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | -$127.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$127.0K |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $5M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | $70.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $8M |
| Short-Term Investments | $0 |
| Net Receivables | $17M |
| Inventory | $38M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $74M |
| PP&E (Net) | $10M |
| Goodwill | $0 |
| Intangible Assets | $24M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $754.0K |
| TOTAL NON-CURRENT ASSETS | $35M |
| TOTAL ASSETS | $109M |
| Account Payables | $14M |
| Short-Term Debt | $40M |
| Deferred Revenue | $9M |
| Other Current Liabilities | $4M |
| TOTAL CURRENT LIABILITIES | $72M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $15M |
| Deferred Tax Liabilities | $891.0K |
| Other Non-Current Liabilities | $30M |
| TOTAL NON-CURRENT LIABILITIES | $52M |
| TOTAL LIABILITIES | $125M |
| Common Stock | $0 |
| Additional Paid-In Capital | $119M |
| Retained Earnings | -$136M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $797.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$16M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$16M |
| TOTAL LIABILITIES & EQUITY | $109M |
| Total Debt | $48M |
| Net Debt | $40M |
