| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $160M | $152M | $131M | 5.5% | 22.5% |
| Op. Income | -$22M | -$33M | -$31M | 33.8% | 30.3% |
| Gross Margin | 69.3% | 69.8% | 67.2% | -0.6pp | 2.1pp |
| Net Margin | -10.7% | -18.4% | -21.6% | 7.6pp | 10.9pp |
| EPS (Diluted) | $-0.17 | $-0.27 | $-0.29 | 37.0% | 41.4% |
| Free Cash Flow | $15M | -$14M | -$4M | 206.7% | 529.6% |
| Item | Amount |
|---|---|
| REVENUE | $160M |
| Cost of Revenue | $49M |
| GROSS PROFIT | $111M |
| R&D Expenses | $34M |
| Selling & Marketing | $69M |
| General & Administrative | $30M |
| SG&A Expenses | $99M |
| Other Expenses | $0 |
| Operating Expenses | $133M |
| Cost & Expenses | $182M |
| OPERATING INCOME | -$22M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$16M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$17M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$17M |
| D&A | $3M |
| EBIT | -$22M |
| EBITDA | -$19M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$17M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $28M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $10M |
| Change in Working Capital | -$6M |
| OPERATING CASH FLOW | $17M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$38M |
| Sales/Maturities of Investments | $36M |
| Other Investing Activities | $2M |
| NET CASH FROM INVESTING | -$841.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $6M |
| NET CASH FROM FINANCING | $6M |
| FREE CASH FLOW | $15M |
| Net Change in Cash | $22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $83M |
| Short-Term Investments | $430M |
| Net Receivables | $102M |
| Inventory | $0 |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $644M |
| PP&E (Net) | $115M |
| Goodwill | $28M |
| Intangible Assets | $3M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $81M |
| TOTAL NON-CURRENT ASSETS | $227M |
| TOTAL ASSETS | $871M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $240M |
| Other Current Liabilities | $31M |
| TOTAL CURRENT LIABILITIES | $324M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $72M |
| TOTAL LIABILITIES | $396M |
| Common Stock | $10.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$587M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$926.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $475M |
| Minority Interest | -$112.0K |
| TOTAL EQUITY | $475M |
| TOTAL LIABILITIES & EQUITY | $871M |
| Total Debt | $87M |
| Net Debt | $4M |
