| Metric | Q4 2026 | Q3 2026 | Q4 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $109M | $106M | $102M | 3.5% | 7.3% |
| Op. Income | -$53M | -$44M | -$55M | -19.5% | 3.6% |
| Gross Margin | 31.5% | 30.7% | 28.2% | 0.7pp | 3.3pp |
| Net Margin | -40.6% | -49.7% | -57.7% | 9.0pp | 17.1pp |
| EPS (Diluted) | $-1.85 | $-2.23 | $-2.60 | 17.0% | 28.8% |
| Free Cash Flow | -$2M | -$24M | -$5M | 91.6% | 57.3% |
| Item | Amount |
|---|---|
| REVENUE | $109M |
| Cost of Revenue | $75M |
| GROSS PROFIT | $34M |
| R&D Expenses | $35M |
| Selling & Marketing | $25M |
| General & Administrative | $28M |
| SG&A Expenses | $53M |
| Other Expenses | $0 |
| Operating Expenses | $87M |
| Cost & Expenses | $162M |
| OPERATING INCOME | -$53M |
| Interest Income | $1M |
| Interest Expense | $3M |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | -$43M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$44M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$44M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$44M |
| D&A | $8M |
| EBIT | -$53M |
| EBITDA | -$50M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$44M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $13M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$9M |
| Change in Working Capital | $33M |
| OPERATING CASH FLOW | -$1M |
| Capital Expenditure | -$745.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$745.0K |
| Net Debt Issuance | -$40M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | -$38M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | -$39M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $142M |
| Short-Term Investments | $0 |
| Net Receivables | $86M |
| Inventory | $215M |
| Other Current Assets | $19M |
| TOTAL CURRENT ASSETS | $462M |
| PP&E (Net) | $36M |
| Goodwill | $228M |
| Intangible Assets | $61M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $330M |
| TOTAL ASSETS | $792M |
| Account Payables | $90M |
| Short-Term Debt | $34M |
| Deferred Revenue | $119M |
| Other Current Liabilities | $142M |
| TOTAL CURRENT LIABILITIES | $385M |
| Long-Term Debt | $227M |
| Deferred Revenue NC | $131M |
| Deferred Tax Liabilities | $13M |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $385M |
| TOTAL LIABILITIES | $771M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $2.1B |
| Retained Earnings | -$2.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $21M |
| Minority Interest | $0 |
| TOTAL EQUITY | $21M |
| TOTAL LIABILITIES & EQUITY | $792M |
| Total Debt | $272M |
| Net Debt | $130M |
