| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $38M | $47M | $37M | -20.0% | 1.0% |
| Op. Income | -$6M | -$3M | -$24M | -122.5% | 73.6% |
| Gross Margin | -5.8% | 27.2% | 16.4% | -33.0pp | -22.1pp |
| Net Margin | -19.6% | -5.2% | -62.4% | -14.5pp | 42.7pp |
| EPS (Diluted) | $-0.12 | $-0.04 | $-0.39 | -200.0% | 69.2% |
| Free Cash Flow | -$2M | -$646.0K | $976.0K | -256.2% | -335.8% |
| Item | Amount |
|---|---|
| REVENUE | $38M |
| Cost of Revenue | $40M |
| GROSS PROFIT | -$2M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $7M |
| Other Expenses | -$3M |
| Operating Expenses | $4M |
| Cost & Expenses | $44M |
| OPERATING INCOME | -$6M |
| Interest Income | $363.0K |
| Interest Expense | $0 |
| Other Income/Expenses | -$908.0K |
| INCOME BEFORE TAX | -$7M |
| Income Tax Expense | $189.0K |
| Net Income from Continuing Ops | -$7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$7M |
| D&A | $2M |
| EBIT | -$8M |
| EBITDA | -$5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $274.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $81.0K |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$103.0K |
| Acquisitions (Net) | -$1M |
| Purchases of Investments | -$11M |
| Sales/Maturities of Investments | $16M |
| Other Investing Activities | $1M |
| NET CASH FROM INVESTING | $5M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$220.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $112.0K |
| NET CASH FROM FINANCING | -$108.0K |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $30M |
| Short-Term Investments | $16M |
| Net Receivables | $11M |
| Inventory | $39M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $104M |
| PP&E (Net) | $37M |
| Goodwill | $2M |
| Intangible Assets | $3M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $43M |
| TOTAL ASSETS | $147M |
| Account Payables | $9M |
| Short-Term Debt | $6M |
| Deferred Revenue | $4M |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $26M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $544.0K |
| TOTAL NON-CURRENT LIABILITIES | $24M |
| TOTAL LIABILITIES | $50M |
| Common Stock | $60.0K |
| Additional Paid-In Capital | $377M |
| Retained Earnings | -$280M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $97M |
| Minority Interest | $0 |
| TOTAL EQUITY | $97M |
| TOTAL LIABILITIES & EQUITY | $147M |
| Total Debt | $29M |
| Net Debt | -$929.0K |
