| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $17M | $13M | $14M | 31.1% | 24.5% |
| Op. Income | -$13M | -$11M | -$19M | -13.9% | 34.7% |
| Gross Margin | 93.4% | 91.7% | 94.8% | 1.7pp | -1.4pp |
| Net Margin | -64.3% | -79.7% | -133.5% | 15.4pp | 69.1pp |
| EPS (Diluted) | $-0.06 | $-0.06 | $-0.15 | -7.2% | 57.1% |
| Free Cash Flow | -$15M | -$8M | -$38M | -87.3% | 58.9% |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $16M |
| R&D Expenses | $10M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $19M |
| Other Expenses | $0 |
| Operating Expenses | $29M |
| Cost & Expenses | $30M |
| OPERATING INCOME | -$13M |
| Interest Income | $1M |
| Interest Expense | $0 |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | -$11M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$11M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$11M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$11M |
| D&A | $435.0K |
| EBIT | -$13M |
| EBITDA | -$13M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$11M |
| Depreciation & Amortization | $435.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2.0K |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | -$15M |
| 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 | $157M |
| FREE CASH FLOW | -$15M |
| Net Change in Cash | $142M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $227M |
| Short-Term Investments | $0 |
| Net Receivables | $14M |
| Inventory | $25M |
| Other Current Assets | -$23M |
| TOTAL CURRENT ASSETS | $247M |
| PP&E (Net) | $4M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $26M |
| TOTAL NON-CURRENT ASSETS | $29M |
| TOTAL ASSETS | $277M |
| Account Payables | $14M |
| Short-Term Debt | $1M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $19M |
| TOTAL CURRENT LIABILITIES | $34M |
| Long-Term Debt | $1M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $1M |
| TOTAL LIABILITIES | $35M |
| Common Stock | $28.0K |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | -$954M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$41.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $242M |
| Minority Interest | $0 |
| TOTAL EQUITY | $242M |
| TOTAL LIABILITIES & EQUITY | $277M |
| Total Debt | $2M |
| Net Debt | -$224M |
