| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $21M | $22M | $12M | -5.2% | 82.7% |
| Op. Income | $2M | -$1M | $629.0K | 280.8% | 291.7% |
| Gross Margin | 61.6% | 35.0% | 55.6% | 26.6pp | 6.0pp |
| Net Margin | 7.0% | -8.6% | -5.1% | 15.5pp | 12.1pp |
| EPS (Diluted) | $0.05 | $-0.07 | $-0.02 | 178.0% | 338.4% |
| Free Cash Flow | -$22M | $12M | -$777.0K | -288.4% | -2747.4% |
| Item | Amount |
|---|---|
| REVENUE | $21M |
| Cost of Revenue | $8M |
| GROSS PROFIT | $13M |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $11M |
| Cost & Expenses | $19M |
| OPERATING INCOME | $2M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | $1M |
| Income Tax Expense | -$69.0K |
| 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 | $2M |
| EBITDA | $3M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $21M |
| Cost of Revenue | $8M |
| GROSS PROFIT | $13M |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $11M |
| Cost & Expenses | $19M |
| OPERATING INCOME | $2M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | $1M |
| Income Tax Expense | -$69.0K |
| 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 | $2M |
| EBITDA | $3M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $1M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$17M |
| OPERATING CASH FLOW | -$22M |
| Capital Expenditure | -$49.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$49.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $217.0K |
| NET CASH FROM FINANCING | $421.0K |
| FREE CASH FLOW | -$22M |
| Net Change in Cash | -$11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $26M |
| Short-Term Investments | $0 |
| Net Receivables | $12M |
| Inventory | $15M |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $61M |
| PP&E (Net) | $636.0K |
| Goodwill | $0 |
| Intangible Assets | $31M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $19.0K |
| TOTAL NON-CURRENT ASSETS | $32M |
| TOTAL ASSETS | $92M |
| Account Payables | $11M |
| Short-Term Debt | $9M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $19M |
| TOTAL CURRENT LIABILITIES | $38M |
| Long-Term Debt | $460.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $27M |
| TOTAL NON-CURRENT LIABILITIES | $27M |
| TOTAL LIABILITIES | $66M |
| Common Stock | $27.0K |
| Additional Paid-In Capital | $139M |
| Retained Earnings | -$112M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $26M |
| Minority Interest | $0 |
| TOTAL EQUITY | $26M |
| TOTAL LIABILITIES & EQUITY | $92M |
| Total Debt | $9M |
| Net Debt | -$17M |
