| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5M | $1M | $11M | 289.6% | -52.0% |
| Op. Income | -$12M | -$6M | -$4M | -97.3% | -185.2% |
| Gross Margin | -167.7% | -99.2% | 26.2% | -68.5pp | -193.9pp |
| Net Margin | -361.8% | 813.9% | 17.2% | -1175.7pp | -379.0pp |
| EPS (Diluted) | $-0.61 | $0.36 | $0.06 | -272.1% | -1100.0% |
| Free Cash Flow | -$14M | $0 | -$4M | — | -251.6% |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $14M |
| GROSS PROFIT | -$9M |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $1M |
| Other Expenses | $1 |
| Operating Expenses | $3M |
| Cost & Expenses | $17M |
| OPERATING INCOME | -$12M |
| Interest Income | $347.6K |
| Interest Expense | $0 |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | -$22M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | -$19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $1 |
| NET INCOME | -$19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$19M |
| D&A | $0 |
| EBIT | -$12M |
| EBITDA | -$12M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$18M |
| Depreciation & Amortization | $995.8K |
| Stock-Based Compensation | $620.3K |
| Deferred Income Tax | -$5M |
| Other Non-Cash Items | $18M |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | -$14M |
| Capital Expenditure | -$689.1K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$164M |
| Sales/Maturities of Investments | $157M |
| Other Investing Activities | $5M |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$390.9K |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$14M |
| Net Change in Cash | $32M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $33M |
| Short-Term Investments | $36M |
| Net Receivables | $0 |
| Inventory | $8M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $85M |
| PP&E (Net) | $21M |
| Goodwill | $2M |
| Intangible Assets | $0 |
| Long-Term Investments | $31M |
| Tax Assets | $9M |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $63M |
| TOTAL ASSETS | $148M |
| Account Payables | $442.3K |
| Short-Term Debt | $79.2K |
| Deferred Revenue | $2M |
| Other Current Liabilities | $3M |
| TOTAL CURRENT LIABILITIES | $6M |
| Long-Term Debt | $81.6K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$81.6K |
| TOTAL NON-CURRENT LIABILITIES | $81.6K |
| TOTAL LIABILITIES | $6M |
| Common Stock | $146 |
| Additional Paid-In Capital | $31M |
| Retained Earnings | $104M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $7M |
| Other Equity | $1 |
| TOTAL STOCKHOLDERS' EQUITY | $142M |
| Minority Interest | $0 |
| TOTAL EQUITY | $142M |
| TOTAL LIABILITIES & EQUITY | $148M |
| Total Debt | $242.4K |
| Net Debt | -$33M |
