| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $61M | $62M | $55M | -2.6% | 10.6% |
| Op. Income | -$1M | -$98.0K | -$9M | -1010.2% | 87.8% |
| Gross Margin | 72.6% | 72.8% | 62.7% | -0.3pp | 9.9pp |
| Net Margin | -22.0% | -4.4% | -37.3% | -17.7pp | 15.2pp |
| EPS (Diluted) | $-0.31 | $-0.06 | $13.56 | -392.8% | -102.3% |
| Free Cash Flow | $10M | $16M | $5M | -39.3% | 108.8% |
| Item | Amount |
|---|---|
| REVENUE | $61M |
| Cost of Revenue | $17M |
| GROSS PROFIT | $44M |
| R&D Expenses | $26M |
| Selling & Marketing | $6M |
| General & Administrative | $12M |
| SG&A Expenses | $19M |
| Other Expenses | $0 |
| Operating Expenses | $45M |
| Cost & Expenses | $62M |
| OPERATING INCOME | -$1M |
| Interest Income | $603.0K |
| Interest Expense | $2M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$5M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | -$13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$13M |
| D&A | $2M |
| EBIT | -$4M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$13M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $6M |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $8M |
| OPERATING CASH FLOW | $13M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $2M |
| Other Investing Activities | -$565.0K |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$80.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$180.0K |
| NET CASH FROM FINANCING | $415.0K |
| FREE CASH FLOW | $10M |
| Net Change in Cash | $10M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $84M |
| Short-Term Investments | $3M |
| Net Receivables | $59M |
| Inventory | $0 |
| Other Current Assets | $40M |
| TOTAL CURRENT ASSETS | $186M |
| PP&E (Net) | $53M |
| Goodwill | $299M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $54M |
| Other Non-Current Assets | $39M |
| TOTAL NON-CURRENT ASSETS | $444M |
| TOTAL ASSETS | $631M |
| Account Payables | $901.0K |
| Short-Term Debt | $4M |
| Deferred Revenue | $52M |
| Other Current Liabilities | $13M |
| TOTAL CURRENT LIABILITIES | $101M |
| Long-Term Debt | $213M |
| Deferred Revenue NC | $140M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $13M |
| TOTAL NON-CURRENT LIABILITIES | $379M |
| TOTAL LIABILITIES | $480M |
| Common Stock | $434.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$940M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$25M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $151M |
| Minority Interest | $0 |
| TOTAL EQUITY | $151M |
| TOTAL LIABILITIES & EQUITY | $631M |
| Total Debt | $230M |
| Net Debt | $146M |
