| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $81M | $67M | $47M | 21.6% | 71.3% |
| Op. Income | -$5M | -$7M | -$26M | 25.9% | 79.5% |
| Gross Margin | 30.7% | 31.1% | 2.4% | -0.4pp | 28.4pp |
| Net Margin | -6.0% | -10.3% | -52.7% | 4.3pp | 46.6pp |
| EPS (Diluted) | $-0.10 | $-0.14 | $-0.52 | 28.6% | 80.8% |
| Free Cash Flow | $16M | $2M | -$7M | 551.0% | 344.9% |
| Item | Amount |
|---|---|
| REVENUE | $81M |
| Cost of Revenue | $56M |
| GROSS PROFIT | $25M |
| R&D Expenses | $14M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $16M |
| Other Expenses | $615.0K |
| Operating Expenses | $30M |
| Cost & Expenses | $87M |
| OPERATING INCOME | -$5M |
| Interest Income | $1M |
| Interest Expense | $331.0K |
| Other Income/Expenses | $768.0K |
| INCOME BEFORE TAX | -$5M |
| Income Tax Expense | $272.0K |
| Net Income from Continuing Ops | -$5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$5M |
| D&A | $4M |
| EBIT | -$4M |
| EBITDA | -$629.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$5M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $12M |
| Deferred Income Tax | $58.0K |
| Other Non-Cash Items | $15M |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | $18M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $443.0K |
| Purchases of Investments | -$10M |
| Sales/Maturities of Investments | $10M |
| Other Investing Activities | -$348.0K |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $44.0K |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | $16M |
| Net Change in Cash | $18M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $99M |
| Short-Term Investments | $35M |
| Net Receivables | $51M |
| Inventory | $45M |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $243M |
| PP&E (Net) | $57M |
| Goodwill | $12M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $3M |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $75M |
| TOTAL ASSETS | $318M |
| Account Payables | $21M |
| Short-Term Debt | $23M |
| Deferred Revenue | $1M |
| Other Current Liabilities | $4M |
| TOTAL CURRENT LIABILITIES | $64M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $6M |
| Deferred Tax Liabilities | $3M |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $27M |
| TOTAL LIABILITIES | $91M |
| Common Stock | $16.0K |
| Additional Paid-In Capital | $578M |
| Retained Earnings | -$349M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $227M |
| Minority Interest | $0 |
| TOTAL EQUITY | $227M |
| TOTAL LIABILITIES & EQUITY | $318M |
| Total Debt | $36M |
| Net Debt | -$62M |
