| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1M | $770.0K | — | 36.8% | — |
| Op. Income | -$39M | -$30M | — | -29.2% | — |
| Gross Margin | -2167.0% | -16.9% | — | -2150.1pp | — |
| Net Margin | -6997.1% | -35056.5% | — | 28059.4pp | — |
| EPS (Diluted) | $-0.42 | $-3.89 | — | 89.2% | — |
| Free Cash Flow | -$34M | -$80M | — | 57.1% | — |
| Item | Amount |
|---|---|
| REVENUE | $1M |
| Cost of Revenue | $9M |
| GROSS PROFIT | -$23M |
| R&D Expenses | $14M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $25M |
| Other Expenses | -$24M |
| Operating Expenses | $16M |
| Cost & Expenses | $40M |
| OPERATING INCOME | -$39M |
| Interest Income | $0 |
| Interest Expense | $731.0K |
| Other Income/Expenses | -$35M |
| INCOME BEFORE TAX | -$74M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$74M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$74M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$74M |
| D&A | $1M |
| EBIT | -$39M |
| EBITDA | $310M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$74M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $46M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | -$24M |
| Capital Expenditure | -$10M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$69M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$80M |
| Net Debt Issuance | $8M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $10M |
| NET CASH FROM FINANCING | $8M |
| FREE CASH FLOW | -$34M |
| Net Change in Cash | -$95M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $51M |
| Short-Term Investments | $70M |
| Net Receivables | $879.0K |
| Inventory | $0 |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $126M |
| PP&E (Net) | $32M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $1M |
| Tax Assets | $0 |
| Other Non-Current Assets | $131.0K |
| TOTAL NON-CURRENT ASSETS | $33M |
| TOTAL ASSETS | $159M |
| Account Payables | $1M |
| Short-Term Debt | $3M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $22M |
| TOTAL CURRENT LIABILITIES | $27M |
| Long-Term Debt | $30M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $159M |
| TOTAL NON-CURRENT LIABILITIES | $193M |
| TOTAL LIABILITIES | $219M |
| Common Stock | $17.0K |
| Additional Paid-In Capital | $571M |
| Retained Earnings | -$854M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $22.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$60M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$60M |
| TOTAL LIABILITIES & EQUITY | $159M |
| Total Debt | $36M |
| Net Debt | -$14M |
