| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4M | $7M | $5M | -40.7% | -15.9% |
| Op. Income | -$5M | -$4M | -$7M | -30.4% | 23.0% |
| Gross Margin | 10.8% | 14.6% | -0.3% | -3.8pp | 11.1pp |
| Net Margin | -89.5% | -65.6% | -130.2% | -23.8pp | 40.7pp |
| EPS (Diluted) | $-0.14 | $-0.17 | $-0.27 | 17.6% | 48.1% |
| Free Cash Flow | -$390.8K | -$1M | -$5M | 63.2% | 92.2% |
| Item | Amount |
|---|---|
| REVENUE | $4M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $461.1K |
| R&D Expenses | $329.8K |
| Selling & Marketing | $187.7K |
| General & Administrative | $797.4K |
| SG&A Expenses | $985.1K |
| Other Expenses | $5M |
| Operating Expenses | $6M |
| Cost & Expenses | $10M |
| OPERATING INCOME | -$5M |
| Interest Income | $0 |
| Interest Expense | $518.8K |
| Other Income/Expenses | $2M |
| 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 | $203.3K |
| EBIT | -$5M |
| EBITDA | -$5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $376.9K |
| Stock-Based Compensation | $63.9K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | -$387.8K |
| Capital Expenditure | -$3.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3.0K |
| Net Debt Issuance | $142.6K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$8.6K |
| NET CASH FROM FINANCING | $134.0K |
| FREE CASH FLOW | -$390.8K |
| Net Change in Cash | -$276.8K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $344.2K |
| Short-Term Investments | $0 |
| Net Receivables | $587.3K |
| Inventory | $26M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $28M |
| PP&E (Net) | $7M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $506.5K |
| TOTAL NON-CURRENT ASSETS | $7M |
| TOTAL ASSETS | $35M |
| Account Payables | $0 |
| Short-Term Debt | $11M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $20M |
| Long-Term Debt | $3M |
| Deferred Revenue NC | $7M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $17M |
| TOTAL LIABILITIES | $37M |
| Common Stock | $81M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$97M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $15M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$2M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$2M |
| TOTAL LIABILITIES & EQUITY | $35M |
| Total Debt | $20M |
| Net Debt | $20M |
