| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $4M | $3M | -63.8% | -48.3% |
| Op. Income | -$4M | -$5M | -$5M | 34.3% | 26.9% |
| Gross Margin | 23.3% | 10.8% | 7.4% | 12.6pp | 15.9pp |
| Net Margin | -268.7% | -89.5% | -179.8% | -179.2pp | -88.9pp |
| EPS (Diluted) | $-0.14 | $-0.14 | $-0.21 | 0.0% | 33.3% |
| Free Cash Flow | -$1M | -$390.8K | -$3M | -259.9% | 56.8% |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $361.7K |
| R&D Expenses | $166.0K |
| Selling & Marketing | $60.3K |
| General & Administrative | $3M |
| SG&A Expenses | $3M |
| Other Expenses | $419.6K |
| Operating Expenses | $4M |
| Cost & Expenses | $5M |
| OPERATING INCOME | -$4M |
| Interest Income | $0 |
| Interest Expense | $571.9K |
| Other Income/Expenses | -$578.9K |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $412.2K |
| EBIT | -$4M |
| EBITDA | -$3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $412.2K |
| Stock-Based Compensation | $184.1K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $195.3K |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$1M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $916.4K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $163.7K |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$1M |
| Net Change in Cash | -$96.1K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $248.2K |
| Short-Term Investments | $0 |
| Net Receivables | $218.8K |
| Inventory | $25M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $27M |
| PP&E (Net) | $6M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $465.1K |
| Tax Assets | $0 |
| Other Non-Current Assets | -$1.0K |
| TOTAL NON-CURRENT ASSETS | $7M |
| TOTAL ASSETS | $33M |
| Account Payables | $4M |
| Short-Term Debt | $11M |
| Deferred Revenue | $4M |
| Other Current Liabilities | $1M |
| TOTAL CURRENT LIABILITIES | $21M |
| Long-Term Debt | $4M |
| Deferred Revenue NC | $7M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $18M |
| TOTAL LIABILITIES | $39M |
| Common Stock | $81M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$102M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $16M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$5M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$5M |
| TOTAL LIABILITIES & EQUITY | $33M |
| Total Debt | $21M |
| Net Debt | $21M |
