| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $13M | $1M | -80.6% | 103.7% |
| Op. Income | -$1M | -$986.0K | -$657.0K | -5.6% | -58.4% |
| Gross Margin | 0.7% | 1.7% | 20.6% | -1.0pp | -19.9pp |
| Net Margin | -28.9% | -9.0% | -43.4% | -19.9pp | 14.5pp |
| EPS (Diluted) | $-0.09 | $-0.15 | $-0.08 | 40.0% | -18.7% |
| Free Cash Flow | $331.0K | $248.0K | -$276.0K | 33.5% | 219.9% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $3M |
| GROSS PROFIT | $18.0K |
| R&D Expenses | $356.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $703.0K |
| Other Expenses | $0 |
| Operating Expenses | $1M |
| Cost & Expenses | $4M |
| OPERATING INCOME | -$1M |
| Interest Income | $0 |
| Interest Expense | $12.0K |
| Other Income/Expenses | $299.0K |
| INCOME BEFORE TAX | -$742.0K |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$742.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$742.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$742.0K |
| D&A | $181.0K |
| EBIT | -$730.0K |
| EBITDA | -$549.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$742.0K |
| Depreciation & Amortization | $181.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $170.0K |
| Change in Working Capital | $752.0K |
| OPERATING CASH FLOW | $361.0K |
| Capital Expenditure | -$30.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $29.0K |
| NET CASH FROM INVESTING | -$1.0K |
| Net Debt Issuance | -$116.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$116.0K |
| FREE CASH FLOW | $331.0K |
| Net Change in Cash | $291.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3M |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $4M |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $10M |
| PP&E (Net) | $4M |
| Goodwill | $0 |
| Intangible Assets | $109.0K |
| Long-Term Investments | $227.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $76.0K |
| TOTAL NON-CURRENT ASSETS | $4M |
| TOTAL ASSETS | $14M |
| Account Payables | $2M |
| Short-Term Debt | $3M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $11M |
| Long-Term Debt | $308.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $1M |
| TOTAL LIABILITIES | $12M |
| Common Stock | $0 |
| Additional Paid-In Capital | $189M |
| Retained Earnings | -$191M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2M |
| Minority Interest | $0 |
| TOTAL EQUITY | $2M |
| TOTAL LIABILITIES & EQUITY | $14M |
| Total Debt | $4M |
| Net Debt | $909.0K |
