| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $420.0K | $183.0K | $67.0K | 129.5% | 526.9% |
| Op. Income | -$3M | -$4M | -$5M | 15.7% | 36.7% |
| Gross Margin | 97.1% | 92.3% | 100.0% | 4.8pp | -2.9pp |
| Net Margin | -691.4% | -1897.3% | -6595.5% | 1205.8pp | 5904.1pp |
| EPS (Diluted) | $-0.80 | $-1.30 | $-9.00 | 38.5% | 91.1% |
| Free Cash Flow | -$4M | -$4M | -$5M | -6.5% | 12.8% |
| Item | Amount |
|---|---|
| REVENUE | $420.0K |
| Cost of Revenue | $12.0K |
| GROSS PROFIT | $408.0K |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $1M |
| SG&A Expenses | $1M |
| Other Expenses | $0 |
| Operating Expenses | $3M |
| Cost & Expenses | $3M |
| OPERATING INCOME | -$3M |
| Interest Income | $125.0K |
| Interest Expense | $13.0K |
| Other Income/Expenses | $112.0K |
| 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 | $0 |
| EBIT | -$3M |
| EBITDA | -$3M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $70.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $0 |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $525.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $12M |
| Short-Term Investments | $0 |
| Net Receivables | $237.0K |
| Inventory | $66.0K |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $14M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $578.0K |
| TOTAL NON-CURRENT ASSETS | $578.0K |
| TOTAL ASSETS | $14M |
| Account Payables | $948.0K |
| Short-Term Debt | $525.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $4M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $4M |
| Common Stock | $4.0K |
| Additional Paid-In Capital | $162M |
| Retained Earnings | -$152M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $10M |
| Minority Interest | $0 |
| TOTAL EQUITY | $10M |
| TOTAL LIABILITIES & EQUITY | $14M |
| Total Debt | $525.0K |
| Net Debt | -$11M |
