| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5M | $3M | $2M | 54.0% | 128.0% |
| Op. Income | -$8M | -$9M | -$11M | 14.0% | 28.8% |
| Gross Margin | 50.9% | 53.8% | 35.6% | -2.9pp | 15.3pp |
| Net Margin | -111.7% | -320.6% | -447.7% | 208.9pp | 336.0pp |
| EPS (Diluted) | $-0.06 | $-0.14 | $-0.14 | 55.1% | 55.1% |
| Free Cash Flow | -$5M | -$6M | -$8M | 7.7% | 37.0% |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $3M |
| GROSS PROFIT | $3M |
| R&D Expenses | $4M |
| Selling & Marketing | $3M |
| General & Administrative | $4M |
| SG&A Expenses | $7M |
| Other Expenses | $0 |
| Operating Expenses | $10M |
| Cost & Expenses | $13M |
| OPERATING INCOME | -$8M |
| Interest Income | $280.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$6M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$6M |
| D&A | $1M |
| EBIT | -$8M |
| EBITDA | -$5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$6M |
| Depreciation & Amortization | $281.0K |
| Stock-Based Compensation | $692.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | $1M |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | -$63.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$63.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $19M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | $14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $35M |
| Short-Term Investments | $0 |
| Net Receivables | $7M |
| Inventory | $7M |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $51M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $734.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $4M |
| TOTAL ASSETS | $55M |
| Account Payables | $4M |
| Short-Term Debt | $248.0K |
| Deferred Revenue | $2M |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $12M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $729.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $3M |
| TOTAL LIABILITIES | $14M |
| Common Stock | $10.0K |
| Additional Paid-In Capital | $371M |
| Retained Earnings | -$330M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $41M |
| Minority Interest | $0 |
| TOTAL EQUITY | $41M |
| TOTAL LIABILITIES & EQUITY | $55M |
| Total Debt | $314.0K |
| Net Debt | -$35M |
