| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $143M | $134M | $105M | 7.2% | 35.7% |
| Op. Income | -$18M | -$16M | -$29M | -12.4% | 35.8% |
| Gross Margin | 83.8% | 78.4% | 72.9% | 5.4pp | 11.0pp |
| Net Margin | -93.4% | -12.2% | -31.8% | -81.2pp | -61.6pp |
| EPS (Diluted) | $-2.32 | $-0.28 | $-0.60 | -728.6% | -286.7% |
| Free Cash Flow | $4M | -$12M | -$1M | 133.5% | 420.5% |
| Item | Amount |
|---|---|
| REVENUE | $143M |
| Cost of Revenue | $23M |
| GROSS PROFIT | $120M |
| R&D Expenses | $44M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $95M |
| Other Expenses | $0 |
| Operating Expenses | $138M |
| Cost & Expenses | $162M |
| OPERATING INCOME | -$18M |
| Interest Income | $3M |
| Interest Expense | $1M |
| Other Income/Expenses | -$121M |
| INCOME BEFORE TAX | -$140M |
| Income Tax Expense | -$6M |
| Net Income from Continuing Ops | -$134M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$134M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$134M |
| D&A | $9M |
| EBIT | -$139M |
| EBITDA | -$130M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$134M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $17M |
| Deferred Income Tax | -$6M |
| Other Non-Cash Items | $75M |
| Change in Working Capital | $46M |
| OPERATING CASH FLOW | $7M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | -$12M |
| Purchases of Investments | -$41M |
| Sales/Maturities of Investments | $28M |
| Other Investing Activities | $12M |
| NET CASH FROM INVESTING | -$16M |
| Net Debt Issuance | $821.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $20M |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | $4M |
| Net Change in Cash | -$7M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $91M |
| Short-Term Investments | $188M |
| Net Receivables | $109M |
| Inventory | $64M |
| Other Current Assets | $24M |
| TOTAL CURRENT ASSETS | $475M |
| PP&E (Net) | $184M |
| Goodwill | $67M |
| Intangible Assets | $142M |
| Long-Term Investments | $4M |
| Tax Assets | $0 |
| Other Non-Current Assets | $22M |
| TOTAL NON-CURRENT ASSETS | $419M |
| TOTAL ASSETS | $893M |
| Account Payables | $25M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $77M |
| TOTAL CURRENT LIABILITIES | $101M |
| Long-Term Debt | $36M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $441.0K |
| Other Non-Current Liabilities | -$4M |
| TOTAL NON-CURRENT LIABILITIES | $136M |
| TOTAL LIABILITIES | $237M |
| Common Stock | $58.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$933M |
| Treasury Stock | -$132.0K |
| Accum. Other Comp. Income | $3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $656M |
| Minority Interest | $0 |
| TOTAL EQUITY | $656M |
| TOTAL LIABILITIES & EQUITY | $893M |
| Total Debt | $140M |
| Net Debt | $49M |
