| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $41M | $38M | $41M | 6.2% | -0.5% |
| Op. Income | $38.0K | -$4M | $4M | 100.9% | -99.1% |
| Gross Margin | 81.2% | 59.7% | 74.9% | 21.4pp | 6.2pp |
| Net Margin | -7.3% | -45.8% | 9.0% | 38.5pp | -16.3pp |
| EPS (Diluted) | $-0.02 | $-0.10 | $0.02 | 80.0% | -183.7% |
| Free Cash Flow | -$9M | $1M | -$12M | -790.0% | 26.0% |
| Item | Amount |
|---|---|
| REVENUE | $41M |
| Cost of Revenue | $8M |
| GROSS PROFIT | $33M |
| R&D Expenses | $4M |
| Selling & Marketing | $12M |
| General & Administrative | $13M |
| SG&A Expenses | $26M |
| Other Expenses | $3M |
| Operating Expenses | $33M |
| Cost & Expenses | $41M |
| OPERATING INCOME | $38.0K |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$3M |
| D&A | $1M |
| EBIT | -$2M |
| EBITDA | -$792.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | $537.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $120.0K |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | -$9M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $53.0K |
| Purchases of Investments | -$13M |
| Sales/Maturities of Investments | $7M |
| Other Investing Activities | -$37.0K |
| NET CASH FROM INVESTING | -$5M |
| Net Debt Issuance | $9M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $219.0K |
| FREE CASH FLOW | -$9M |
| Net Change in Cash | -$14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $29M |
| Short-Term Investments | $18M |
| Net Receivables | $90M |
| Inventory | $93M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $238M |
| PP&E (Net) | $12M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $18M |
| TOTAL ASSETS | $256M |
| Account Payables | $9M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $87M |
| TOTAL CURRENT LIABILITIES | $96M |
| Long-Term Debt | $141M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $145M |
| TOTAL LIABILITIES | $242M |
| Common Stock | $2M |
| Additional Paid-In Capital | $2.0B |
| Retained Earnings | -$1.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $14M |
| Minority Interest | $0 |
| TOTAL EQUITY | $14M |
| TOTAL LIABILITIES & EQUITY | $256M |
| Total Debt | $141M |
| Net Debt | $112M |
