| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $173M | $158M | $141M | 9.1% | 22.8% |
| Op. Income | -$15M | -$29M | -$34M | 48.4% | 56.7% |
| Gross Margin | 61.4% | 58.4% | 53.4% | 3.0pp | 8.0pp |
| Net Margin | -9.0% | -18.6% | -23.4% | 9.7pp | 14.4pp |
| EPS (Diluted) | $-0.10 | $-0.20 | $-0.23 | 50.0% | 56.5% |
| Free Cash Flow | $12M | $18M | -$5M | -32.6% | 328.8% |
| Item | Amount |
|---|---|
| REVENUE | $173M |
| Cost of Revenue | $67M |
| GROSS PROFIT | $106M |
| R&D Expenses | $42M |
| Selling & Marketing | $51M |
| General & Administrative | $28M |
| SG&A Expenses | $79M |
| Other Expenses | $0 |
| Operating Expenses | $121M |
| Cost & Expenses | $187M |
| OPERATING INCOME | -$15M |
| Interest Income | $3M |
| Interest Expense | $3M |
| Other Income/Expenses | $45.0K |
| INCOME BEFORE TAX | -$15M |
| Income Tax Expense | $681.0K |
| Net Income from Continuing Ops | -$16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$16M |
| D&A | $22M |
| EBIT | -$12M |
| EBITDA | $11M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$16M |
| Depreciation & Amortization | $18M |
| Stock-Based Compensation | $32M |
| Deferred Income Tax | $395.0K |
| Other Non-Cash Items | $10M |
| Change in Working Capital | -$22M |
| OPERATING CASH FLOW | $22M |
| Capital Expenditure | -$10M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$38M |
| Sales/Maturities of Investments | $88M |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | $36M |
| Net Debt Issuance | $180M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$173M |
| NET CASH FROM FINANCING | $9M |
| FREE CASH FLOW | $12M |
| Net Change in Cash | $67M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $181M |
| Short-Term Investments | $181M |
| Net Receivables | $118M |
| Inventory | $0 |
| Other Current Assets | $27M |
| TOTAL CURRENT ASSETS | $507M |
| PP&E (Net) | $239M |
| Goodwill | $670M |
| Intangible Assets | $26M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $58M |
| TOTAL NON-CURRENT ASSETS | $993M |
| TOTAL ASSETS | $1.5B |
| Account Payables | $18M |
| Short-Term Debt | $39M |
| Deferred Revenue | $35M |
| Other Current Liabilities | $78M |
| TOTAL CURRENT LIABILITIES | $194M |
| Long-Term Debt | $323M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $376M |
| TOTAL LIABILITIES | $570M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $2.0B |
| Retained Earnings | -$1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$41.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $930M |
| Minority Interest | $0 |
| TOTAL EQUITY | $930M |
| TOTAL LIABILITIES & EQUITY | $1.5B |
| Total Debt | $430M |
| Net Debt | $250M |
