| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $26M | $31M | $37M | -16.7% | -31.3% |
| Op. Income | -$10M | -$9M | $8M | -11.3% | -230.8% |
| Gross Margin | 10.5% | 11.3% | 54.1% | -0.7pp | -43.6pp |
| Net Margin | -38.2% | -29.5% | 22.5% | -8.7pp | -60.7pp |
| EPS (Diluted) | $-0.76 | $-0.71 | $0.65 | -7.0% | -216.9% |
| Free Cash Flow | -$18M | -$6M | -$15M | -181.0% | -19.3% |
| Item | Amount |
|---|---|
| REVENUE | $26M |
| Cost of Revenue | $23M |
| GROSS PROFIT | $3M |
| R&D Expenses | $4M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $8M |
| Other Expenses | $175.0K |
| Operating Expenses | $13M |
| Cost & Expenses | $36M |
| OPERATING INCOME | -$10M |
| Interest Income | $634.0K |
| Interest Expense | $37.0K |
| Other Income/Expenses | $563.0K |
| INCOME BEFORE TAX | -$10M |
| Income Tax Expense | $81.0K |
| Net Income from Continuing Ops | -$10M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$10M |
| D&A | $3M |
| EBIT | -$10M |
| EBITDA | -$7M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$10M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $419.0K |
| Deferred Income Tax | -$3.0K |
| Other Non-Cash Items | $682.0K |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | -$15M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $2M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$30.0K |
| NET CASH FROM INVESTING | -$389.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$305.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$305.0K |
| FREE CASH FLOW | -$18M |
| Net Change in Cash | -$16M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $11M |
| Short-Term Investments | $0 |
| Net Receivables | $25M |
| Inventory | $35M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $78M |
| PP&E (Net) | $25M |
| Goodwill | $1M |
| Intangible Assets | $5M |
| Long-Term Investments | $12M |
| Tax Assets | $0 |
| Other Non-Current Assets | $23M |
| TOTAL NON-CURRENT ASSETS | $67M |
| TOTAL ASSETS | $145M |
| Account Payables | $15M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $26M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1.0K |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $3M |
| TOTAL LIABILITIES | $29M |
| Common Stock | $144.0K |
| Additional Paid-In Capital | $99M |
| Retained Earnings | $36M |
| Treasury Stock | -$15M |
| Accum. Other Comp. Income | -$5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $116M |
| Minority Interest | $0 |
| TOTAL EQUITY | $116M |
| TOTAL LIABILITIES & EQUITY | $145M |
| Total Debt | $873.0K |
| Net Debt | -$10M |
