| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $31M | $36M | $25M | -14.6% | 25.9% |
| Op. Income | -$3M | $5M | -$12M | -157.6% | 73.5% |
| Gross Margin | 25.0% | 38.4% | 21.8% | -13.3pp | 3.2pp |
| Net Margin | -32.1% | -3.1% | -65.7% | -29.0pp | 33.6pp |
| EPS (Diluted) | $-0.29 | $-0.06 | $-0.53 | -424.4% | 45.3% |
| Free Cash Flow | $25.0K | $3M | -$4M | -99.2% | 100.6% |
| Item | Amount |
|---|---|
| REVENUE | $31M |
| Cost of Revenue | $23M |
| GROSS PROFIT | $8M |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $11M |
| Cost & Expenses | $34M |
| OPERATING INCOME | -$3M |
| Interest Income | $58.0K |
| Interest Expense | $551.0K |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | -$10M |
| Income Tax Expense | $333.0K |
| Net Income from Continuing Ops | -$10M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$11M |
| D&A | $2M |
| EBIT | -$9M |
| EBITDA | -$7M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$10M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $7M |
| Change in Working Capital | $638.0K |
| OPERATING CASH FLOW | $2M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$232.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | $25.0K |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $19M |
| Short-Term Investments | $0 |
| Net Receivables | $29M |
| Inventory | $34M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $84M |
| PP&E (Net) | $124M |
| Goodwill | $14M |
| Intangible Assets | $4M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $10M |
| TOTAL NON-CURRENT ASSETS | $151M |
| TOTAL ASSETS | $235M |
| Account Payables | $10M |
| Short-Term Debt | $773.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $14M |
| TOTAL CURRENT LIABILITIES | $30M |
| Long-Term Debt | $129M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $32M |
| TOTAL NON-CURRENT LIABILITIES | $168M |
| TOTAL LIABILITIES | $198M |
| Common Stock | $37.0K |
| Additional Paid-In Capital | $208M |
| Retained Earnings | -$218M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $37M |
| Minority Interest | $0 |
| TOTAL EQUITY | $37M |
| TOTAL LIABILITIES & EQUITY | $235M |
| Total Debt | $138M |
| Net Debt | $119M |
