| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $16M | $18M | $14M | -8.8% | 18.1% |
| Op. Income | -$443.0K | -$2M | $2M | 71.0% | -119.8% |
| Gross Margin | 46.3% | 67.4% | 83.6% | -21.1pp | -37.3pp |
| Net Margin | -7.8% | -13.1% | 11.2% | 5.4pp | -18.9pp |
| EPS (Diluted) | $-0.05 | $-0.09 | $0.07 | 49.0% | -166.8% |
| Free Cash Flow | -$6M | -$2M | $2M | -166.8% | -385.8% |
| Item | Amount |
|---|---|
| REVENUE | $16M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $7M |
| R&D Expenses | $154.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $10M |
| Other Expenses | -$2M |
| Operating Expenses | $8M |
| Cost & Expenses | $17M |
| OPERATING INCOME | -$443.0K |
| Interest Income | $148.0K |
| Interest Expense | $933.0K |
| Other Income/Expenses | -$804.0K |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1M |
| D&A | $1M |
| EBIT | -$443.0K |
| EBITDA | $645.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$1M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | -$6M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $75.0K |
| NET CASH FROM FINANCING | $6M |
| FREE CASH FLOW | -$6M |
| Net Change in Cash | -$858.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $24M |
| Short-Term Investments | $0 |
| Net Receivables | $30M |
| Inventory | $10M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $67M |
| PP&E (Net) | $111.0K |
| Goodwill | $0 |
| Intangible Assets | $28M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $28M |
| TOTAL ASSETS | $95M |
| Account Payables | $9M |
| Short-Term Debt | $101.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $28M |
| TOTAL CURRENT LIABILITIES | $37M |
| Long-Term Debt | $18.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $25M |
| TOTAL NON-CURRENT LIABILITIES | $25M |
| TOTAL LIABILITIES | $63M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $130M |
| Retained Earnings | -$98M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $32M |
| Minority Interest | $0 |
| TOTAL EQUITY | $32M |
| TOTAL LIABILITIES & EQUITY | $95M |
| Total Debt | $119.0K |
| Net Debt | -$24M |
