| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $243.0K | $120.0K | $151.0K | 102.5% | 60.9% |
| Op. Income | -$8M | -$12M | -$13M | 34.6% | 37.7% |
| Gross Margin | 8.2% | 100.0% | 100.0% | -91.8pp | -91.8pp |
| Net Margin | -2970.0% | -9381.7% | -7806.0% | 6411.7pp | 4836.0pp |
| EPS (Diluted) | $-0.11 | $-0.17 | $-0.25 | 35.3% | 56.0% |
| Free Cash Flow | -$6M | -$11M | -$10M | 45.0% | 41.9% |
| Item | Amount |
|---|---|
| REVENUE | $243.0K |
| Cost of Revenue | $223.0K |
| GROSS PROFIT | $20.0K |
| R&D Expenses | $5M |
| Selling & Marketing | $0 |
| General & Administrative | $3M |
| SG&A Expenses | $3M |
| Other Expenses | -$223.0K |
| Operating Expenses | $8M |
| Cost & Expenses | $8M |
| OPERATING INCOME | -$8M |
| Interest Income | $4M |
| Interest Expense | $0 |
| Other Income/Expenses | $611.0K |
| INCOME BEFORE TAX | -$7M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$7M |
| D&A | $228.0K |
| EBIT | -$7M |
| EBITDA | -$7M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $223.0K |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$158.0K |
| Change in Working Capital | -$77.0K |
| OPERATING CASH FLOW | -$6M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$6M |
| Sales/Maturities of Investments | $17M |
| Other Investing Activities | -$744.0K |
| NET CASH FROM INVESTING | $11M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$6M |
| Net Change in Cash | $7M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $17M |
| Short-Term Investments | $41M |
| Net Receivables | $182.0K |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $60M |
| PP&E (Net) | $1M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $549.0K |
| TOTAL NON-CURRENT ASSETS | $2M |
| TOTAL ASSETS | $62M |
| Account Payables | $8M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $8M |
| TOTAL CURRENT LIABILITIES | $16M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $102.0K |
| TOTAL LIABILITIES | $16M |
| Common Stock | $7.0K |
| Additional Paid-In Capital | $475M |
| Retained Earnings | -$430M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $50.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $45M |
| Minority Interest | $0 |
| TOTAL EQUITY | $45M |
| TOTAL LIABILITIES & EQUITY | $62M |
| Total Debt | $832.0K |
| Net Debt | -$17M |
