| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $46M | $31M | — | 46.4% | — |
| Op. Income | $36M | $2M | — | 2112.5% | — |
| Gross Margin | 34.7% | 20.8% | — | 13.8pp | — |
| Net Margin | 76.8% | 0.5% | — | 76.3pp | — |
| EPS (Diluted) | $0.18 | $0.00 | — | 19900.0% | — |
| Free Cash Flow | -$37M | -$30M | — | -25.8% | — |
| Item | Amount |
|---|---|
| REVENUE | $46M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $16M |
| R&D Expenses | $0 |
| Selling & Marketing | $514.0K |
| General & Administrative | $11M |
| SG&A Expenses | $12M |
| Other Expenses | -$31M |
| Operating Expenses | -$20M |
| Cost & Expenses | $10M |
| OPERATING INCOME | $36M |
| Interest Income | $0 |
| Interest Expense | $288.0K |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | $649.0K |
| Net Income from Continuing Ops | $35M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $35M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $35M |
| D&A | $21M |
| EBIT | $5M |
| EBITDA | $27M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $46M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $16M |
| R&D Expenses | $0 |
| Selling & Marketing | $514.0K |
| General & Administrative | $11M |
| SG&A Expenses | $12M |
| Other Expenses | -$31M |
| Operating Expenses | -$20M |
| Cost & Expenses | $10M |
| OPERATING INCOME | $36M |
| Interest Income | $0 |
| Interest Expense | $288.0K |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | $649.0K |
| Net Income from Continuing Ops | $35M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $35M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $35M |
| D&A | $21M |
| EBIT | $5M |
| EBITDA | $27M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $35M |
| Depreciation & Amortization | $22M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | -$718.0K |
| Other Non-Cash Items | -$24M |
| Change in Working Capital | -$27M |
| OPERATING CASH FLOW | $10M |
| Capital Expenditure | -$47M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$126.0K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$14M |
| NET CASH FROM INVESTING | -$62M |
| Net Debt Issuance | -$16M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $1M |
| NET CASH FROM FINANCING | $53M |
| FREE CASH FLOW | -$37M |
| Net Change in Cash | $1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $25M |
| Short-Term Investments | $34M |
| Net Receivables | $35M |
| Inventory | $47M |
| Other Current Assets | $41M |
| TOTAL CURRENT ASSETS | $181M |
| PP&E (Net) | $326M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $122M |
| TOTAL NON-CURRENT ASSETS | $448M |
| TOTAL ASSETS | $629M |
| Account Payables | $10M |
| Short-Term Debt | $24M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $883.0K |
| TOTAL CURRENT LIABILITIES | $53M |
| Long-Term Debt | $11M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $15M |
| TOTAL LIABILITIES | $68M |
| Common Stock | $0 |
| Additional Paid-In Capital | $791M |
| Retained Earnings | -$239M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $8M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $561M |
| Minority Interest | $0 |
| TOTAL EQUITY | $561M |
| TOTAL LIABILITIES & EQUITY | $629M |
| Total Debt | $40M |
| Net Debt | $16M |
