| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $20M | $26M | $37M | -23.1% | -46.1% |
| Op. Income | -$15M | -$11M | -$3M | -38.3% | -336.8% |
| Gross Margin | 12.3% | 18.2% | 28.3% | -5.9pp | -16.0pp |
| Net Margin | -73.4% | -41.5% | -9.2% | -32.0pp | -64.3pp |
| EPS (Diluted) | $-0.26 | $-0.19 | $-0.06 | -36.8% | -329.0% |
| Free Cash Flow | $4M | -$12M | -$2M | 129.1% | 250.2% |
| Item | Amount |
|---|---|
| REVENUE | $20M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $2M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | -$7M |
| SG&A Expenses | -$5M |
| Other Expenses | $22M |
| Operating Expenses | $17M |
| Cost & Expenses | $35M |
| OPERATING INCOME | -$15M |
| Interest Income | $83.9K |
| Interest Expense | $0 |
| Other Income/Expenses | -$38.6K |
| INCOME BEFORE TAX | -$15M |
| Income Tax Expense | $109.9K |
| Net Income from Continuing Ops | -$15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$15M |
| D&A | $679.2K |
| EBIT | $7M |
| EBITDA | $8M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$15M |
| Depreciation & Amortization | $679.2K |
| Stock-Based Compensation | $692.5K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $10M |
| Change in Working Capital | $8M |
| OPERATING CASH FLOW | $5M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $767.3K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$3M |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | -$425.7K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$425.7K |
| FREE CASH FLOW | $4M |
| Net Change in Cash | $760.6K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $24M |
| Short-Term Investments | $0 |
| Net Receivables | $40M |
| Inventory | $7M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $73M |
| PP&E (Net) | $8M |
| Goodwill | $0 |
| Intangible Assets | $2M |
| Long-Term Investments | $12M |
| Tax Assets | $0 |
| Other Non-Current Assets | $8M |
| TOTAL NON-CURRENT ASSETS | $29M |
| TOTAL ASSETS | $102M |
| Account Payables | $57M |
| Short-Term Debt | $1M |
| Deferred Revenue | $5M |
| Other Current Liabilities | $201.9K |
| TOTAL CURRENT LIABILITIES | $73M |
| Long-Term Debt | $805.4K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $25M |
| TOTAL NON-CURRENT LIABILITIES | $29M |
| TOTAL LIABILITIES | $102M |
| Common Stock | $5.7K |
| Additional Paid-In Capital | $49M |
| Retained Earnings | -$48M |
| Treasury Stock | -$60.5K |
| Accum. Other Comp. Income | -$108.9K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $604.7K |
| Minority Interest | $0 |
| TOTAL EQUITY | $604.7K |
| TOTAL LIABILITIES & EQUITY | $102M |
| Total Debt | $7M |
| Net Debt | -$17M |
