| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $42M | $44M | $50M | -3.0% | -14.3% |
| Op. Income | $2M | -$3M | -$8M | 158.8% | 119.3% |
| Gross Margin | 53.0% | 53.3% | 52.4% | -0.3pp | 0.6pp |
| Net Margin | -3.7% | -6.8% | -25.5% | 3.0pp | 21.8pp |
| EPS (Diluted) | $-0.05 | $-0.08 | $-0.34 | 41.9% | 85.5% |
| Free Cash Flow | -$62.0K | -$1M | -$95.0K | 94.8% | 34.7% |
| Item | Amount |
|---|---|
| REVENUE | $42M |
| Cost of Revenue | $20M |
| GROSS PROFIT | $22M |
| R&D Expenses | $2M |
| Selling & Marketing | $1M |
| General & Administrative | $0 |
| SG&A Expenses | $19M |
| Other Expenses | $0 |
| Operating Expenses | $21M |
| Cost & Expenses | $41M |
| OPERATING INCOME | $2M |
| Interest Income | $0 |
| Interest Expense | $282.0K |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $8.0K |
| 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 | $393.0K |
| EBIT | $1M |
| EBITDA | $1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $393.0K |
| Stock-Based Compensation | $828.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $999.0K |
| Change in Working Capital | -$666.0K |
| OPERATING CASH FLOW | -$29.0K |
| Capital Expenditure | -$33.0K |
| Acquisitions (Net) | -$3M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $3M |
| NET CASH FROM INVESTING | -$31.0K |
| Net Debt Issuance | $118.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$657.0K |
| NET CASH FROM FINANCING | -$457.0K |
| FREE CASH FLOW | -$62.0K |
| Net Change in Cash | -$517.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $8M |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $18M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $35M |
| PP&E (Net) | $13M |
| Goodwill | $0 |
| Intangible Assets | $2M |
| Long-Term Investments | $1M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $18M |
| TOTAL ASSETS | $53M |
| Account Payables | $9M |
| Short-Term Debt | $4M |
| Deferred Revenue | $5M |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $28M |
| Long-Term Debt | $7M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $871.0K |
| TOTAL NON-CURRENT LIABILITIES | $18M |
| TOTAL LIABILITIES | $45M |
| Common Stock | $4.0K |
| Additional Paid-In Capital | $643M |
| Retained Earnings | -$660M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $8M |
| Minority Interest | $0 |
| TOTAL EQUITY | $8M |
| TOTAL LIABILITIES & EQUITY | $53M |
| Total Debt | $20M |
| Net Debt | $12M |
