| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4M | $5M | $3M | -12.4% | 47.2% |
| Op. Income | $11M | $2M | $2M | 490.2% | 463.0% |
| Gross Margin | 54.2% | 49.7% | 66.0% | 4.5pp | -11.8pp |
| Net Margin | 39.1% | 37.1% | 66.6% | 2.0pp | -27.5pp |
| EPS (Diluted) | $0.10 | $0.06 | $0.02 | 66.7% | 536.9% |
| Free Cash Flow | -$191.1K | -$260.3K | -$788.0K | 26.6% | 75.8% |
| Item | Amount |
|---|---|
| REVENUE | $4M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $2M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $559.8K |
| SG&A Expenses | $559.8K |
| Other Expenses | -$9M |
| Operating Expenses | -$9M |
| Cost & Expenses | -$7M |
| OPERATING INCOME | $11M |
| Interest Income | $0 |
| Interest Expense | -$44.0K |
| Other Income/Expenses | -$9M |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $49.0K |
| EBIT | $2M |
| EBITDA | $2M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $4M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $2M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $559.8K |
| SG&A Expenses | $559.8K |
| Other Expenses | -$9M |
| Operating Expenses | -$9M |
| Cost & Expenses | -$7M |
| OPERATING INCOME | $11M |
| Interest Income | $0 |
| Interest Expense | -$44.0K |
| Other Income/Expenses | -$9M |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $49.0K |
| EBIT | $2M |
| EBITDA | $2M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | -$47.6K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $96.6K |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$183.5K |
| Capital Expenditure | -$7.6K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$7.6K |
| Net Debt Issuance | $36.7K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $36.7K |
| FREE CASH FLOW | -$191.1K |
| Net Change in Cash | -$146.8K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $202.5K |
| Short-Term Investments | $0 |
| Net Receivables | $16M |
| Inventory | $0 |
| Other Current Assets | $91.8K |
| TOTAL CURRENT ASSETS | $16M |
| PP&E (Net) | $14.9K |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $14.9K |
| TOTAL ASSETS | $16M |
| Account Payables | $3M |
| Short-Term Debt | $985.3K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $7M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $985.3K |
| TOTAL LIABILITIES | $7M |
| Common Stock | $3.1K |
| Additional Paid-In Capital | $30M |
| Retained Earnings | -$20M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $10M |
| Minority Interest | $0 |
| TOTAL EQUITY | $10M |
| TOTAL LIABILITIES & EQUITY | $16M |
| Total Debt | $985.3K |
| Net Debt | $782.8K |
