| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $348.0K | $795.0K | $652.0K | -56.2% | -46.6% |
| Op. Income | -$13M | -$13M | -$14M | 2.9% | 9.0% |
| Gross Margin | -6.9% | 47.7% | 100.0% | -54.6pp | -106.9pp |
| Net Margin | -11575.9% | -1899.2% | -2036.7% | -9676.6pp | -9539.2pp |
| EPS (Diluted) | $-0.78 | $-0.55 | $-0.68 | -41.8% | -14.7% |
| Free Cash Flow | $6M | -$11M | -$12M | 156.1% | 154.5% |
| Item | Amount |
|---|---|
| REVENUE | $348.0K |
| Cost of Revenue | $372.0K |
| GROSS PROFIT | -$24.0K |
| R&D Expenses | $8M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $5M |
| Other Expenses | $0 |
| Operating Expenses | $13M |
| Cost & Expenses | $13M |
| OPERATING INCOME | -$13M |
| Interest Income | $710.0K |
| Interest Expense | $0 |
| Other Income/Expenses | -$28M |
| INCOME BEFORE TAX | -$40M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$40M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$40M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$40M |
| D&A | $372.0K |
| EBIT | -$13M |
| EBITDA | -$12M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$40M |
| Depreciation & Amortization | $372.0K |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $28M |
| Change in Working Capital | $17M |
| OPERATING CASH FLOW | $6M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | -$18.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $29M |
| FREE CASH FLOW | $6M |
| Net Change in Cash | $35M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $110M |
| Short-Term Investments | $0 |
| Net Receivables | $155.0K |
| Inventory | $0 |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $114M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $894.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $83.0K |
| TOTAL NON-CURRENT ASSETS | $4M |
| TOTAL ASSETS | $118M |
| Account Payables | $182.0K |
| Short-Term Debt | $286.0K |
| Deferred Revenue | $9M |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $16M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $8M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $45M |
| TOTAL NON-CURRENT LIABILITIES | $55M |
| TOTAL LIABILITIES | $70M |
| Common Stock | $6.0K |
| Additional Paid-In Capital | $340M |
| Retained Earnings | -$292M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $48M |
| Minority Interest | $0 |
| TOTAL EQUITY | $48M |
| TOTAL LIABILITIES & EQUITY | $118M |
| Total Debt | $2M |
| Net Debt | -$108M |
