| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $80M | $79M | $80M | 1.7% | 0.0% |
| Op. Income | -$14M | -$12M | -$21M | -17.0% | 33.1% |
| Gross Margin | 74.2% | 74.4% | 68.8% | -0.2pp | 5.4pp |
| Net Margin | -22.5% | -22.4% | -32.5% | -0.1pp | 9.9pp |
| EPS (Diluted) | $-0.45 | $-0.45 | $-0.69 | 0.0% | 34.8% |
| Free Cash Flow | $818.0K | $7M | -$625.0K | -87.8% | 230.9% |
| Item | Amount |
|---|---|
| REVENUE | $80M |
| Cost of Revenue | $21M |
| GROSS PROFIT | $59M |
| R&D Expenses | $20M |
| Selling & Marketing | $40M |
| General & Administrative | $14M |
| SG&A Expenses | $54M |
| Other Expenses | $0 |
| Operating Expenses | $74M |
| Cost & Expenses | $94M |
| OPERATING INCOME | -$14M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$18M |
| Income Tax Expense | $191.0K |
| Net Income from Continuing Ops | -$18M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$18M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$18M |
| D&A | $2M |
| EBIT | -$14M |
| EBITDA | -$12M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$18M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $22M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | $4M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$419.0K |
| Common Stock Repurchased | -$486.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$164.0K |
| NET CASH FROM FINANCING | -$389.0K |
| FREE CASH FLOW | $818.0K |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $47M |
| Short-Term Investments | $0 |
| Net Receivables | $44M |
| Inventory | $0 |
| Other Current Assets | $26M |
| TOTAL CURRENT ASSETS | $117M |
| PP&E (Net) | $38M |
| Goodwill | $9M |
| Intangible Assets | $2M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $23M |
| TOTAL NON-CURRENT ASSETS | $73M |
| TOTAL ASSETS | $190M |
| Account Payables | $13M |
| Short-Term Debt | $9M |
| Deferred Revenue | $163M |
| Other Current Liabilities | $31M |
| TOTAL CURRENT LIABILITIES | $231M |
| Long-Term Debt | $120M |
| Deferred Revenue NC | $2M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $137M |
| TOTAL LIABILITIES | $368M |
| Common Stock | $40.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $690.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$179M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$179M |
| TOTAL LIABILITIES & EQUITY | $190M |
| Total Debt | $135M |
| Net Debt | $88M |
