| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $12M | $9M | $9M | 33.2% | 41.4% |
| Op. Income | -$5M | -$3M | -$2M | -39.6% | -109.9% |
| Gross Margin | 22.0% | 29.1% | 29.2% | -7.0pp | -7.2pp |
| Net Margin | -57.8% | -39.1% | -27.3% | -18.7pp | -30.5pp |
| EPS (Diluted) | $-0.17 | $-0.09 | $-0.06 | -88.9% | -180.5% |
| Free Cash Flow | -$3M | -$4M | -$225.5K | 9.1% | -1377.7% |
| Item | Amount |
|---|---|
| REVENUE | $12M |
| Cost of Revenue | $10M |
| GROSS PROFIT | $3M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $6M |
| Operating Expenses | $7M |
| Cost & Expenses | $17M |
| OPERATING INCOME | -$5M |
| Interest Income | $0 |
| Interest Expense | $313.0K |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$7M |
| Income Tax Expense | -$122.4K |
| Net Income from Continuing Ops | -$7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$7M |
| D&A | $792.5K |
| EBIT | -$2M |
| EBITDA | -$1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $792.5K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$219.6K |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$213.1K |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | -$681.6K |
| Acquisitions (Net) | $2M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $1M |
| Net Debt Issuance | -$108.9K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$276.0K |
| FREE CASH FLOW | -$3M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $0 |
| Net Receivables | $9M |
| Inventory | $13M |
| Other Current Assets | $40.1K |
| TOTAL CURRENT ASSETS | $28M |
| PP&E (Net) | $23M |
| Goodwill | $14M |
| Intangible Assets | $16M |
| Long-Term Investments | $0 |
| Tax Assets | $22.6K |
| Other Non-Current Assets | $73.9K |
| TOTAL NON-CURRENT ASSETS | $53M |
| TOTAL ASSETS | $82M |
| Account Payables | $7M |
| Short-Term Debt | $172.6K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $17M |
| Long-Term Debt | $5M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $152.8K |
| Other Non-Current Liabilities | $35M |
| TOTAL NON-CURRENT LIABILITIES | $49M |
| TOTAL LIABILITIES | $66M |
| Common Stock | $429.5K |
| Additional Paid-In Capital | $245M |
| Retained Earnings | -$231M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $978.7K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $16M |
| Minority Interest | $0 |
| TOTAL EQUITY | $16M |
| TOTAL LIABILITIES & EQUITY | $82M |
| Total Debt | $15M |
| Net Debt | $10M |
