| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $98M | $102M | $107M | -4.2% | -8.8% |
| Op. Income | -$54M | -$55M | -$67M | 2.0% | 19.8% |
| Gross Margin | 28.7% | 28.2% | 22.1% | 0.5pp | 6.6pp |
| Net Margin | -58.5% | -57.7% | -67.1% | -0.8pp | 8.6pp |
| EPS (Diluted) | $-2.49 | $-2.60 | $-3.40 | 4.2% | 26.8% |
| Free Cash Flow | -$34M | -$5M | -$66M | -636.7% | 48.5% |
| Item | Amount |
|---|---|
| REVENUE | $98M |
| Cost of Revenue | $70M |
| GROSS PROFIT | $28M |
| R&D Expenses | $34M |
| Selling & Marketing | $26M |
| General & Administrative | $22M |
| SG&A Expenses | $48M |
| Other Expenses | $0 |
| Operating Expenses | $82M |
| Cost & Expenses | $151M |
| OPERATING INCOME | -$54M |
| Interest Income | $1M |
| Interest Expense | $6M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$56M |
| Income Tax Expense | $622.0K |
| Net Income from Continuing Ops | -$57M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$57M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$57M |
| D&A | $7M |
| EBIT | -$50M |
| EBITDA | -$43M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$57M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $18M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $9M |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | -$33M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $1M |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$34M |
| Net Change in Cash | -$29M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $196M |
| Short-Term Investments | $0 |
| Net Receivables | $99M |
| Inventory | $212M |
| Other Current Assets | $27M |
| TOTAL CURRENT ASSETS | $554M |
| PP&E (Net) | $47M |
| Goodwill | $221M |
| Intangible Assets | $68M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $343M |
| TOTAL ASSETS | $898M |
| Account Payables | $52M |
| Short-Term Debt | $0 |
| Deferred Revenue | $128M |
| Other Current Liabilities | $15M |
| TOTAL CURRENT LIABILITIES | $304M |
| Long-Term Debt | $308M |
| Deferred Revenue NC | $136M |
| Deferred Tax Liabilities | $12M |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $475M |
| TOTAL LIABILITIES | $779M |
| Common Stock | $46.0K |
| Additional Paid-In Capital | $2.1B |
| Retained Earnings | -$1.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $119M |
| Minority Interest | $0 |
| TOTAL EQUITY | $119M |
| TOTAL LIABILITIES & EQUITY | $898M |
| Total Debt | $322M |
| Net Debt | $126M |
