| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5M | $14M | $27M | -61.3% | -79.3% |
| Op. Income | -$15M | -$12M | -$33M | -21.3% | 54.9% |
| Gross Margin | 94.2% | 99.9% | 2.3% | -5.7pp | 91.9pp |
| Net Margin | -282.7% | -90.0% | -127.2% | -192.7pp | -155.6pp |
| EPS (Diluted) | $-0.04 | $-0.04 | $-0.09 | -21.7% | 52.6% |
| Free Cash Flow | -$17M | -$24M | -$22M | 27.7% | 21.5% |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $319.0K |
| GROSS PROFIT | $5M |
| R&D Expenses | $11M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $20M |
| Cost & Expenses | $20M |
| OPERATING INCOME | -$15M |
| Interest Income | $1M |
| Interest Expense | $2M |
| Other Income/Expenses | -$750.0K |
| INCOME BEFORE TAX | -$16M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$16M |
| D&A | $118.0K |
| EBIT | -$15M |
| EBITDA | -$15M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$16M |
| Depreciation & Amortization | $118.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$108.0K |
| Change in Working Capital | -$5M |
| OPERATING CASH FLOW | -$17M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$23M |
| Sales/Maturities of Investments | $27M |
| Other Investing Activities | $440.0K |
| NET CASH FROM INVESTING | $5M |
| Net Debt Issuance | -$3M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | -$17M |
| Net Change in Cash | -$15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $34M |
| Short-Term Investments | $62M |
| Net Receivables | $2M |
| Inventory | $281.0K |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $102M |
| PP&E (Net) | $9M |
| Goodwill | $45M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $29M |
| TOTAL NON-CURRENT ASSETS | $83M |
| TOTAL ASSETS | $185M |
| Account Payables | $3M |
| Short-Term Debt | $6M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $12M |
| TOTAL CURRENT LIABILITIES | $21M |
| Long-Term Debt | $49M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $582.0K |
| TOTAL NON-CURRENT LIABILITIES | $57M |
| TOTAL LIABILITIES | $77M |
| Common Stock | $366.0K |
| Additional Paid-In Capital | $2.1B |
| Retained Earnings | -$2.0B |
| Treasury Stock | -$5M |
| Accum. Other Comp. Income | $30.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $108M |
| Minority Interest | $0 |
| TOTAL EQUITY | $108M |
| TOTAL LIABILITIES & EQUITY | $185M |
| Total Debt | $62M |
| Net Debt | $28M |
