| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $20M | — | $4M | — | 352.0% |
| Op. Income | -$116.3K | — | -$5M | — | 97.8% |
| Gross Margin | 7.8% | — | 6.6% | — | 1.2pp |
| Net Margin | -1.0% | — | -123.3% | — | 122.3pp |
| EPS (Diluted) | $-0.03 | — | $-1.71 | — | 98.5% |
| Free Cash Flow | -$630.6K | — | -$503.6K | — | -25.2% |
| Item | Amount |
|---|---|
| REVENUE | $20M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $2M |
| R&D Expenses | $390.0K |
| Selling & Marketing | $391.2K |
| General & Administrative | $866.9K |
| SG&A Expenses | $1M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $20M |
| OPERATING INCOME | -$116.3K |
| Interest Income | $70 |
| Interest Expense | $0 |
| Other Income/Expenses | -$81.7K |
| INCOME BEFORE TAX | -$198.1K |
| Income Tax Expense | $6.6K |
| Net Income from Continuing Ops | -$204.6K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$204.4K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$204.4K |
| D&A | $364.6K |
| EBIT | -$116.3K |
| EBITDA | $248.2K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$204.6K |
| Depreciation & Amortization | $364.6K |
| Stock-Based Compensation | $229.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $256.4K |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | -$589.2K |
| Capital Expenditure | -$41.4K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$40.5K |
| NET CASH FROM INVESTING | -$41.4K |
| Net Debt Issuance | $410.9K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$18.9K |
| NET CASH FROM FINANCING | $391.9K |
| FREE CASH FLOW | -$630.6K |
| Net Change in Cash | -$245.9K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $620.8K |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $206.6K |
| Other Current Assets | $137.0K |
| TOTAL CURRENT ASSETS | $3M |
| PP&E (Net) | $317.6K |
| Goodwill | $0 |
| Intangible Assets | $3M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $4M |
| TOTAL ASSETS | $7M |
| Account Payables | $420.0K |
| Short-Term Debt | $2M |
| Deferred Revenue | $150.1K |
| Other Current Liabilities | $6.1K |
| TOTAL CURRENT LIABILITIES | $4M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $166.4K |
| TOTAL LIABILITIES | $4M |
| Common Stock | $8.1K |
| Additional Paid-In Capital | $47M |
| Retained Earnings | -$45M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $138.6K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3M |
| Minority Interest | -$10.0K |
| TOTAL EQUITY | $3M |
| TOTAL LIABILITIES & EQUITY | $7M |
| Total Debt | $3M |
| Net Debt | $2M |
