| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $23M | $22M | $24M | 5.1% | -4.9% |
| Op. Income | -$10M | -$14M | -$13M | 31.2% | 26.2% |
| Gross Margin | 77.6% | 74.7% | 74.0% | 3.0pp | 3.6pp |
| Net Margin | -46.1% | -64.9% | -55.4% | 18.8pp | 9.3pp |
| EPS (Diluted) | $-0.25 | $-0.34 | $-0.33 | 26.5% | 24.2% |
| Free Cash Flow | -$7M | -$8M | -$7M | 14.0% | -3.7% |
| Item | Amount |
|---|---|
| REVENUE | $23M |
| Cost of Revenue | $5M |
| GROSS PROFIT | $18M |
| R&D Expenses | $5M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $23M |
| Other Expenses | $0 |
| Operating Expenses | $27M |
| Cost & Expenses | $33M |
| OPERATING INCOME | -$10M |
| Interest Income | $453.0K |
| Interest Expense | $770.0K |
| Other Income/Expenses | -$336.0K |
| INCOME BEFORE TAX | -$10M |
| Income Tax Expense | $186.0K |
| 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 | -$10M |
| D&A | -$22.0K |
| EBIT | -$10M |
| EBITDA | -$10M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$10M |
| Depreciation & Amortization | $231.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $5M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$7M |
| Capital Expenditure | -$13.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$13.0K |
| Net Debt Issuance | -$51.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $55.0K |
| FREE CASH FLOW | -$7M |
| Net Change in Cash | -$7M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $70M |
| Short-Term Investments | $0 |
| Net Receivables | $12M |
| Inventory | $16M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $102M |
| PP&E (Net) | $20M |
| Goodwill | $2M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $28M |
| TOTAL ASSETS | $129M |
| Account Payables | $4M |
| Short-Term Debt | $1M |
| Deferred Revenue | $18.0K |
| Other Current Liabilities | $15M |
| TOTAL CURRENT LIABILITIES | $20M |
| Long-Term Debt | $37M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $69.0K |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $55M |
| TOTAL LIABILITIES | $75M |
| Common Stock | $42.0K |
| Additional Paid-In Capital | $573M |
| Retained Earnings | -$522M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $54M |
| Minority Interest | $0 |
| TOTAL EQUITY | $54M |
| TOTAL LIABILITIES & EQUITY | $129M |
| Total Debt | $56M |
| Net Debt | -$14M |
