| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $100.0K | $200.0K | $0 | -50.0% | — |
| Op. Income | -$6M | -$5M | -$4M | -14.5% | -44.9% |
| Gross Margin | -189.0% | 100.0% | — | -289.0pp | — |
| Net Margin | -5720.0% | -2581.5% | — | -3138.5pp | — |
| EPS (Diluted) | $-0.11 | $-0.31 | $-0.46 | 64.5% | 76.1% |
| Free Cash Flow | -$6M | -$5M | -$4M | -23.4% | -53.4% |
| Item | Amount |
|---|---|
| REVENUE | $100.0K |
| Cost of Revenue | $289.0K |
| GROSS PROFIT | -$189.0K |
| R&D Expenses | $4M |
| Selling & Marketing | $0 |
| General & Administrative | $3M |
| SG&A Expenses | $3M |
| Other Expenses | -$289.0K |
| Operating Expenses | $6M |
| Cost & Expenses | $6M |
| OPERATING INCOME | -$6M |
| Interest Income | $267.0K |
| Interest Expense | $36.0K |
| Other Income/Expenses | $231.0K |
| 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 | $289.0K |
| EBIT | -$6M |
| EBITDA | -$5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$6M |
| Depreciation & Amortization | $289.0K |
| Stock-Based Compensation | $323.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$28.0K |
| Change in Working Capital | -$529.0K |
| OPERATING CASH FLOW | -$6M |
| Capital Expenditure | -$32.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$21M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$21M |
| Net Debt Issuance | -$160.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $105.0K |
| NET CASH FROM FINANCING | $47M |
| FREE CASH FLOW | -$6M |
| Net Change in Cash | $20M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $28M |
| Short-Term Investments | $21M |
| Net Receivables | $65.0K |
| Inventory | $0 |
| Other Current Assets | $1M |
| TOTAL CURRENT ASSETS | $51M |
| PP&E (Net) | $5M |
| Goodwill | $0 |
| Intangible Assets | $7M |
| Long-Term Investments | $1M |
| Tax Assets | $0 |
| Other Non-Current Assets | $26.0K |
| TOTAL NON-CURRENT ASSETS | $13M |
| TOTAL ASSETS | $64M |
| Account Payables | $3M |
| Short-Term Debt | $706.0K |
| Deferred Revenue | $1M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $6M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $2M |
| TOTAL LIABILITIES | $8M |
| Common Stock | $20.0K |
| Additional Paid-In Capital | $394M |
| Retained Earnings | -$338M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$15.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $56M |
| Minority Interest | $0 |
| TOTAL EQUITY | $56M |
| TOTAL LIABILITIES & EQUITY | $64M |
| Total Debt | $3M |
| Net Debt | -$25M |
