| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $39M | — | — | — | — |
| Op. Income | -$6M | — | — | — | — |
| Gross Margin | 100.0% | — | — | — | — |
| Net Margin | -83.6% | — | — | — | — |
| EPS (Diluted) | $-0.39 | — | — | — | — |
| Free Cash Flow | -$460.0K | — | — | — | — |
| Item | Amount |
|---|---|
| REVENUE | $39M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $39M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $45M |
| Operating Expenses | $45M |
| Cost & Expenses | $45M |
| OPERATING INCOME | -$6M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | -$26M |
| INCOME BEFORE TAX | -$32M |
| Income Tax Expense | $54.0K |
| Net Income from Continuing Ops | -$32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$32M |
| D&A | $2M |
| EBIT | -$28M |
| EBITDA | -$27M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$32M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | -$77.0K |
| Deferred Income Tax | -$683.0K |
| Other Non-Cash Items | $27M |
| Change in Working Capital | $5M |
| OPERATING CASH FLOW | $32.0K |
| Capital Expenditure | -$492.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$492.0K |
| Net Debt Issuance | -$255.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$415.0K |
| NET CASH FROM FINANCING | -$670.0K |
| FREE CASH FLOW | -$460.0K |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $0 |
| Net Receivables | $33M |
| Inventory | $0 |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $42M |
| PP&E (Net) | $0 |
| Goodwill | $8M |
| Intangible Assets | $173M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $68M |
| TOTAL NON-CURRENT ASSETS | $249M |
| TOTAL ASSETS | $291M |
| Account Payables | $37M |
| Short-Term Debt | $17M |
| Deferred Revenue | $10M |
| Other Current Liabilities | $21M |
| TOTAL CURRENT LIABILITIES | $91M |
| Long-Term Debt | $63M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $8M |
| Other Non-Current Liabilities | $46M |
| TOTAL NON-CURRENT LIABILITIES | $154M |
| TOTAL LIABILITIES | $245M |
| Common Stock | $817.0K |
| Additional Paid-In Capital | $140M |
| Retained Earnings | -$95M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $46M |
| Minority Interest | $0 |
| TOTAL EQUITY | $46M |
| TOTAL LIABILITIES & EQUITY | $291M |
| Total Debt | $116M |
| Net Debt | $111M |
