| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $12M | $12M | $10M | 2.1% | 23.7% |
| Op. Income | -$17M | -$14M | -$17M | -17.8% | -1.4% |
| Gross Margin | 42.4% | -19.3% | 5.4% | 61.6pp | 37.0pp |
| Net Margin | -69.8% | -216.6% | -360.1% | 146.8pp | 290.2pp |
| EPS (Diluted) | $-0.38 | $-1.18 | $-4.28 | 67.8% | 91.1% |
| Free Cash Flow | -$3M | -$10M | -$9M | 73.6% | 69.0% |
| Item | Amount |
|---|---|
| REVENUE | $12M |
| Cost of Revenue | $7M |
| GROSS PROFIT | $5M |
| R&D Expenses | $5M |
| Selling & Marketing | $2M |
| General & Administrative | $7M |
| SG&A Expenses | $9M |
| Other Expenses | $8M |
| Operating Expenses | $22M |
| Cost & Expenses | $29M |
| OPERATING INCOME | -$17M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | $8M |
| INCOME BEFORE TAX | -$9M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$9M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$9M |
| D&A | $6M |
| EBIT | -$13M |
| EBITDA | $5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$9M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$813.0K |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | $482.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $482.0K |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$369.0K |
| NET CASH FROM FINANCING | $672.0K |
| FREE CASH FLOW | -$3M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4M |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $7M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $22M |
| PP&E (Net) | $358M |
| Goodwill | $0 |
| Intangible Assets | $31M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $388M |
| TOTAL ASSETS | $410M |
| Account Payables | $12M |
| Short-Term Debt | $202.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $4M |
| TOTAL CURRENT LIABILITIES | $16M |
| Long-Term Debt | $483M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $26M |
| TOTAL NON-CURRENT LIABILITIES | $561M |
| TOTAL LIABILITIES | $577M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $351M |
| Retained Earnings | -$518M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$166M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$166M |
| TOTAL LIABILITIES & EQUITY | $410M |
| Total Debt | $536M |
| Net Debt | $531M |
