| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $13M | — | $7M | — | 79.3% |
| Op. Income | -$13M | — | -$10M | — | -33.3% |
| Gross Margin | 53.3% | — | 45.4% | — | 7.9pp |
| Net Margin | -86.9% | — | -169.7% | — | 82.8pp |
| EPS (Diluted) | $-0.09 | — | $-0.28 | — | 68.1% |
| Free Cash Flow | -$26M | — | -$8M | — | -220.3% |
| Item | Amount |
|---|---|
| REVENUE | $13M |
| Cost of Revenue | $6M |
| GROSS PROFIT | $7M |
| R&D Expenses | $7M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $16M |
| Other Expenses | -$3M |
| Operating Expenses | $20M |
| Cost & Expenses | $26M |
| OPERATING INCOME | -$13M |
| Interest Income | $4M |
| Interest Expense | -$120.3K |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$11M |
| Income Tax Expense | -$164.3K |
| 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 | -$198.7K |
| EBIT | -$7M |
| EBITDA | -$8M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$11M |
| Depreciation & Amortization | -$198.7K |
| Stock-Based Compensation | $11M |
| Deferred Income Tax | -$168.0K |
| Other Non-Cash Items | -$19M |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | -$25M |
| Capital Expenditure | -$394.3K |
| Acquisitions (Net) | -$12M |
| Purchases of Investments | -$22M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$7M |
| NET CASH FROM INVESTING | -$42M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $68M |
| NET CASH FROM FINANCING | $441M |
| FREE CASH FLOW | -$26M |
| Net Change in Cash | $375M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $418M |
| Short-Term Investments | $10M |
| Net Receivables | $14M |
| Inventory | $2M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $450M |
| PP&E (Net) | $10M |
| Goodwill | $6M |
| Intangible Assets | $21M |
| Long-Term Investments | $15M |
| Tax Assets | $2M |
| Other Non-Current Assets | $282.0K |
| TOTAL NON-CURRENT ASSETS | $55M |
| TOTAL ASSETS | $504M |
| Account Payables | $5M |
| Short-Term Debt | $689.0K |
| Deferred Revenue | $2M |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $28M |
| Long-Term Debt | $989.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $4M |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $14M |
| TOTAL LIABILITIES | $43M |
| Common Stock | $2M |
| Additional Paid-In Capital | $535M |
| Retained Earnings | -$76M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $852.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $462M |
| Minority Interest | $0 |
| TOTAL EQUITY | $462M |
| TOTAL LIABILITIES & EQUITY | $504M |
| Total Debt | $8M |
| Net Debt | -$410M |
