| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $10M | $9M | $8M | 17.5% | 34.0% |
| Op. Income | -$7M | -$5M | -$6M | -33.5% | -25.7% |
| Gross Margin | 61.5% | 63.2% | 61.3% | -1.7pp | 0.2pp |
| Net Margin | -74.8% | -66.5% | -69.3% | -8.3pp | -5.5pp |
| EPS (Diluted) | $-0.27 | $-0.21 | $-0.20 | -28.6% | -35.0% |
| Free Cash Flow | -$12M | -$3M | -$2M | -265.3% | -705.4% |
| Item | Amount |
|---|---|
| REVENUE | $10M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $6M |
| R&D Expenses | $3M |
| Selling & Marketing | $5M |
| General & Administrative | $6M |
| SG&A Expenses | $11M |
| Other Expenses | -$400.0K |
| Operating Expenses | $13M |
| Cost & Expenses | $17M |
| OPERATING INCOME | -$7M |
| Interest Income | $0 |
| Interest Expense | $703.0K |
| Other Income/Expenses | -$737.0K |
| INCOME BEFORE TAX | -$8M |
| Income Tax Expense | $4.0K |
| Net Income from Continuing Ops | -$8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$8M |
| D&A | $851.0K |
| EBIT | -$7M |
| EBITDA | -$6M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$8M |
| Depreciation & Amortization | -$404.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | -$12M |
| Capital Expenditure | -$49.0K |
| Acquisitions (Net) | $1M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $1M |
| Net Debt Issuance | $19M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$195.0K |
| NET CASH FROM FINANCING | $20M |
| FREE CASH FLOW | -$12M |
| Net Change in Cash | $9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $46M |
| Short-Term Investments | $0 |
| Net Receivables | $7M |
| Inventory | $8M |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $64M |
| PP&E (Net) | $11M |
| Goodwill | $7M |
| Intangible Assets | $14M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $34M |
| TOTAL ASSETS | $98M |
| Account Payables | $1M |
| Short-Term Debt | $694.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $9M |
| TOTAL CURRENT LIABILITIES | $11M |
| Long-Term Debt | $49M |
| Deferred Revenue NC | $581.0K |
| Deferred Tax Liabilities | $354.0K |
| Other Non-Current Liabilities | $489.0K |
| TOTAL NON-CURRENT LIABILITIES | $59M |
| TOTAL LIABILITIES | $70M |
| Common Stock | $294.0K |
| Additional Paid-In Capital | $239M |
| Retained Earnings | -$217M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $28M |
| Minority Interest | $0 |
| TOTAL EQUITY | $28M |
| TOTAL LIABILITIES & EQUITY | $98M |
| Total Debt | $58M |
| Net Debt | $12M |
