| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $16M | $7M | — | 140.1% | — |
| Op. Income | -$1M | $2M | — | -158.5% | — |
| Gross Margin | 69.4% | 64.3% | — | 5.1pp | — |
| Net Margin | -20.0% | 20.0% | — | -40.0pp | — |
| EPS (Diluted) | $-0.07 | $0.06 | — | -229.0% | — |
| Free Cash Flow | -$39M | -$14M | — | -174.7% | — |
| Item | Amount |
|---|---|
| REVENUE | $16M |
| Cost of Revenue | $5M |
| GROSS PROFIT | $11M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $12M |
| Operating Expenses | $12M |
| Cost & Expenses | $17M |
| OPERATING INCOME | -$1M |
| Interest Income | $0 |
| Interest Expense | $142.2K |
| Other Income/Expenses | -$349.3K |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$3M |
| D&A | $0 |
| EBIT | -$1M |
| EBITDA | -$1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $9M |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | $11M |
| Capital Expenditure | -$50M |
| Acquisitions (Net) | $3M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1M |
| NET CASH FROM INVESTING | -$48M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$25M |
| NET CASH FROM FINANCING | $77M |
| FREE CASH FLOW | -$39M |
| Net Change in Cash | $39M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $53M |
| Short-Term Investments | $0 |
| Net Receivables | $25M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $94M |
| PP&E (Net) | $808M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $811M |
| TOTAL ASSETS | $906M |
| Account Payables | $2M |
| Short-Term Debt | $488.1K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $14M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $112M |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $112M |
| TOTAL LIABILITIES | $127M |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$26M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $805M |
| TOTAL STOCKHOLDERS' EQUITY | $779M |
| Minority Interest | $0 |
| TOTAL EQUITY | $779M |
| TOTAL LIABILITIES & EQUITY | $906M |
| Total Debt | $488.1K |
| Net Debt | -$53M |
