| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $115M | $61M | $51M | 89.8% | 126.1% |
| Op. Income | $37M | -$1M | -$6M | 3510.4% | 732.0% |
| Gross Margin | 86.3% | 72.6% | 63.9% | 13.8pp | 22.4pp |
| Net Margin | -4.6% | -22.0% | -47.7% | 17.5pp | 43.2pp |
| EPS (Diluted) | $-0.12 | $-0.31 | $-0.57 | 61.3% | 78.9% |
| Free Cash Flow | $36M | $10M | $8M | 265.6% | 351.5% |
| Item | Amount |
|---|---|
| REVENUE | $115M |
| Cost of Revenue | $16M |
| GROSS PROFIT | $99M |
| R&D Expenses | $25M |
| Selling & Marketing | $6M |
| General & Administrative | $32M |
| SG&A Expenses | $38M |
| Other Expenses | $0 |
| Operating Expenses | $62M |
| Cost & Expenses | $78M |
| OPERATING INCOME | $37M |
| Interest Income | $865.0K |
| Interest Expense | $2M |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | $30M |
| Income Tax Expense | $35M |
| Net Income from Continuing Ops | -$5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$5M |
| D&A | $2M |
| EBIT | $32M |
| EBITDA | $34M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$5M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $22M |
| Other Non-Cash Items | $643.0K |
| Change in Working Capital | $13M |
| OPERATING CASH FLOW | $38M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $886.0K |
| Other Investing Activities | -$426.0K |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$28M |
| Common Stock Repurchased | -$8M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$28M |
| FREE CASH FLOW | $36M |
| Net Change in Cash | $8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $92M |
| Short-Term Investments | $3M |
| Net Receivables | $51M |
| Inventory | $0 |
| Other Current Assets | $40M |
| TOTAL CURRENT ASSETS | $186M |
| PP&E (Net) | $52M |
| Goodwill | $299M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $33M |
| Other Non-Current Assets | $33M |
| TOTAL NON-CURRENT ASSETS | $416M |
| TOTAL ASSETS | $602M |
| Account Payables | $5M |
| Short-Term Debt | $5M |
| Deferred Revenue | $52M |
| Other Current Liabilities | $37M |
| TOTAL CURRENT LIABILITIES | $99M |
| Long-Term Debt | $184M |
| Deferred Revenue NC | $142M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $15M |
| TOTAL NON-CURRENT LIABILITIES | $352M |
| TOTAL LIABILITIES | $452M |
| Common Stock | $450.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$946M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$26M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $150M |
| Minority Interest | $0 |
| TOTAL EQUITY | $150M |
| TOTAL LIABILITIES & EQUITY | $602M |
| Total Debt | $200M |
| Net Debt | $108M |
