| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $75M | $76M | $80M | -2.2% | -6.2% |
| Op. Income | $39M | -$18M | -$18M | 320.9% | 321.0% |
| Gross Margin | -10.9% | 49.5% | 43.6% | -60.5pp | -54.5pp |
| Net Margin | -121.9% | -29.1% | -26.0% | -92.8pp | -95.9pp |
| EPS (Diluted) | $-1.28 | $-0.32 | $-0.33 | -300.0% | -287.9% |
| Free Cash Flow | $10M | -$5M | -$8M | 282.9% | 215.3% |
| Item | Amount |
|---|---|
| REVENUE | $75M |
| Cost of Revenue | $83M |
| GROSS PROFIT | -$8M |
| R&D Expenses | $10M |
| Selling & Marketing | $10M |
| General & Administrative | $11M |
| SG&A Expenses | $21M |
| Other Expenses | -$78M |
| Operating Expenses | -$47M |
| Cost & Expenses | $36M |
| OPERATING INCOME | $39M |
| Interest Income | $909.0K |
| Interest Expense | -$2M |
| Other Income/Expenses | -$129M |
| INCOME BEFORE TAX | -$91M |
| Income Tax Expense | $379.0K |
| Net Income from Continuing Ops | -$91M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$91M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$91M |
| D&A | $13M |
| EBIT | $32M |
| EBITDA | $45M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$91M |
| Depreciation & Amortization | $13M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $195.0K |
| Other Non-Cash Items | $83M |
| Change in Working Capital | $994.0K |
| OPERATING CASH FLOW | $10M |
| Capital Expenditure | -$273.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$8M |
| Sales/Maturities of Investments | $15M |
| Other Investing Activities | -$5M |
| NET CASH FROM INVESTING | $1M |
| Net Debt Issuance | -$407.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$434.0K |
| FREE CASH FLOW | $10M |
| Net Change in Cash | $11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $51M |
| Short-Term Investments | $45M |
| Net Receivables | $59M |
| Inventory | $0 |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $169M |
| PP&E (Net) | $40M |
| Goodwill | $209M |
| Intangible Assets | $78M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $333M |
| TOTAL ASSETS | $503M |
| Account Payables | $9M |
| Short-Term Debt | $5M |
| Deferred Revenue | $56M |
| Other Current Liabilities | $19M |
| TOTAL CURRENT LIABILITIES | $90M |
| Long-Term Debt | $152M |
| Deferred Revenue NC | $410.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $798.0K |
| TOTAL NON-CURRENT LIABILITIES | $167M |
| TOTAL LIABILITIES | $257M |
| Common Stock | $1.6B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $246M |
| Minority Interest | $0 |
| TOTAL EQUITY | $246M |
| TOTAL LIABILITIES & EQUITY | $503M |
| Total Debt | $171M |
| Net Debt | $120M |
