| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $16M | $14M | $17M | 11.9% | -4.2% |
| Op. Income | -$5M | -$8M | -$1M | 35.1% | -281.3% |
| Gross Margin | 43.3% | 40.6% | 42.5% | 2.7pp | 0.8pp |
| Net Margin | -9.1% | -25.9% | -111.8% | 16.8pp | 102.7pp |
| EPS (Diluted) | $-0.12 | $-0.31 | $-1.61 | 61.3% | 92.5% |
| Free Cash Flow | $618.0K | -$4M | $4M | 117.6% | -83.1% |
| Item | Amount |
|---|---|
| REVENUE | $16M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $7M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $10M |
| Other Expenses | $230.0K |
| Operating Expenses | $12M |
| Cost & Expenses | $21M |
| OPERATING INCOME | -$5M |
| Interest Income | $23.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1M |
| D&A | $1M |
| EBIT | -$5M |
| EBITDA | -$4M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$1M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $873.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | $618.0K |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $4M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $4M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $474.0K |
| FREE CASH FLOW | $618.0K |
| Net Change in Cash | $5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $13M |
| Short-Term Investments | $5M |
| Net Receivables | $6M |
| Inventory | $22M |
| Other Current Assets | $896.0K |
| TOTAL CURRENT ASSETS | $47M |
| PP&E (Net) | $505.0K |
| Goodwill | $0 |
| Intangible Assets | $5M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $19M |
| TOTAL NON-CURRENT ASSETS | $25M |
| TOTAL ASSETS | $71M |
| Account Payables | $19M |
| Short-Term Debt | $0 |
| Deferred Revenue | $3M |
| Other Current Liabilities | $15M |
| TOTAL CURRENT LIABILITIES | $41M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $55M |
| TOTAL NON-CURRENT LIABILITIES | $57M |
| TOTAL LIABILITIES | $97M |
| Common Stock | $120.0K |
| Additional Paid-In Capital | $151M |
| Retained Earnings | -$178M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$26M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$26M |
| TOTAL LIABILITIES & EQUITY | $71M |
| Total Debt | $3M |
| Net Debt | -$10M |
