| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $16M | $10M | $0 | 54.0% | — |
| Op. Income | -$2M | -$2M | -$752.7K | -6.9% | -160.0% |
| Gross Margin | 0.6% | 1.0% | — | -0.5pp | — |
| Net Margin | -123.5% | -18.5% | — | -105.0pp | — |
| EPS (Diluted) | $-1.43 | $-0.19 | $-0.03 | -652.6% | -4666.7% |
| Free Cash Flow | -$9M | -$6M | -$9M | -34.1% | 4.8% |
| Item | Amount |
|---|---|
| REVENUE | $16M |
| Cost of Revenue | $16M |
| GROSS PROFIT | $89.1K |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $2M |
| Operating Expenses | $2M |
| Cost & Expenses | $18M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$18M |
| INCOME BEFORE TAX | -$19M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$19M |
| D&A | $1.0K |
| EBIT | -$20M |
| EBITDA | -$20M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$20M |
| Depreciation & Amortization | $1.0K |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $18M |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | -$9M |
| 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 | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $8M |
| FREE CASH FLOW | -$9M |
| Net Change in Cash | -$91.9K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $45.4K |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $157 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $3M |
| PP&E (Net) | $14.9K |
| Goodwill | $0 |
| Intangible Assets | $1.4K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $64M |
| TOTAL NON-CURRENT ASSETS | $64M |
| TOTAL ASSETS | $67M |
| Account Payables | $2M |
| Short-Term Debt | $459.2K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $11M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $11M |
| Common Stock | $156 |
| Additional Paid-In Capital | $162M |
| Retained Earnings | -$107M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $416.2K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $56M |
| Minority Interest | $759.9K |
| TOTAL EQUITY | $56M |
| TOTAL LIABILITIES & EQUITY | $67M |
| Total Debt | $459.2K |
| Net Debt | $413.9K |
