| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $16M | $15M | $15M | 9.1% | 4.4% |
| Op. Income | -$11M | -$12M | -$10M | 8.8% | -8.9% |
| Gross Margin | 86.3% | 86.8% | 85.0% | -0.5pp | 1.3pp |
| Net Margin | -74.5% | -87.6% | -69.4% | 13.1pp | -5.1pp |
| EPS (Diluted) | $-0.46 | $-0.49 | $-0.43 | 6.1% | -7.0% |
| Free Cash Flow | -$10M | -$10M | -$8M | 1.8% | -21.9% |
| Item | Amount |
|---|---|
| REVENUE | $16M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $14M |
| R&D Expenses | $3M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $22M |
| Other Expenses | $0 |
| Operating Expenses | $25M |
| Cost & Expenses | $27M |
| OPERATING INCOME | -$11M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$757.0K |
| INCOME BEFORE TAX | -$12M |
| Income Tax Expense | $7.0K |
| Net Income from Continuing Ops | -$12M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $14.0K |
| NET INCOME | -$12M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$12M |
| D&A | $0 |
| EBIT | -$11M |
| EBITDA | -$11M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$12M |
| Depreciation & Amortization | $185.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $147.0K |
| Change in Working Capital | -$949.0K |
| OPERATING CASH FLOW | -$10M |
| Capital Expenditure | -$68.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$68.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $410.0K |
| FREE CASH FLOW | -$10M |
| Net Change in Cash | -$9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $76M |
| Short-Term Investments | $0 |
| Net Receivables | $11M |
| Inventory | $12M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $102M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $26.0K |
| TOTAL NON-CURRENT ASSETS | $3M |
| TOTAL ASSETS | $105M |
| Account Payables | $4M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $9M |
| TOTAL CURRENT LIABILITIES | $13M |
| Long-Term Debt | $50M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $52M |
| TOTAL LIABILITIES | $65M |
| Common Stock | $263.0K |
| Additional Paid-In Capital | $630M |
| Retained Earnings | -$591M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$203.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $39M |
| Minority Interest | $0 |
| TOTAL EQUITY | $39M |
| TOTAL LIABILITIES & EQUITY | $105M |
| Total Debt | $51M |
| Net Debt | -$25M |
