| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $24M | $11M | $11M | 126.8% | 117.2% |
| Op. Income | $457.0K | -$7M | -$714.0K | 106.3% | 164.0% |
| Gross Margin | 47.9% | 45.3% | 44.2% | 2.6pp | 3.7pp |
| Net Margin | -8.2% | -74.5% | -29.3% | 66.3pp | 21.0pp |
| EPS (Diluted) | $-0.21 | $-0.75 | $-0.31 | 72.0% | 32.3% |
| Free Cash Flow | -$7M | -$2M | -$2M | -310.5% | -275.4% |
| Item | Amount |
|---|---|
| REVENUE | $24M |
| Cost of Revenue | $12M |
| GROSS PROFIT | $11M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $9M |
| SG&A Expenses | $11M |
| Other Expenses | $0 |
| Operating Expenses | $11M |
| Cost & Expenses | $23M |
| OPERATING INCOME | $457.0K |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | -$790.0K |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | -$4M |
| EBIT | -$1M |
| EBITDA | -$5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $604.0K |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | $145.0K |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | -$7M |
| Capital Expenditure | -$96.0K |
| Acquisitions (Net) | -$38M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1M |
| NET CASH FROM INVESTING | -$39M |
| Net Debt Issuance | $22M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $24M |
| NET CASH FROM FINANCING | $47M |
| FREE CASH FLOW | -$7M |
| Net Change in Cash | $1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2M |
| Short-Term Investments | $0 |
| Net Receivables | $19M |
| Inventory | $7M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $34M |
| PP&E (Net) | $3M |
| Goodwill | $53M |
| Intangible Assets | $36M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $25M |
| TOTAL NON-CURRENT ASSETS | $117M |
| TOTAL ASSETS | $151M |
| Account Payables | $17M |
| Short-Term Debt | $4M |
| Deferred Revenue | $8M |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $39M |
| Long-Term Debt | $40M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $4M |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $63M |
| TOTAL LIABILITIES | $102M |
| Common Stock | $105.0K |
| Additional Paid-In Capital | $85M |
| Retained Earnings | -$65M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $21M |
| Minority Interest | $28M |
| TOTAL EQUITY | $49M |
| TOTAL LIABILITIES & EQUITY | $151M |
| Total Debt | $66M |
| Net Debt | $64M |
