| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $13M | $15M | -75.5% | -78.5% |
| Op. Income | -$15M | $3M | -$5M | -630.4% | -177.7% |
| Gross Margin | -33.3% | 65.0% | 30.9% | -98.3pp | -64.2pp |
| Net Margin | -484.3% | 2.5% | -30.0% | -486.8pp | -454.3pp |
| EPS (Diluted) | $-12.06 | $0.28 | $-4.80 | -4407.1% | -151.3% |
| Free Cash Flow | -$4M | -$859.7K | $432.9K | -312.4% | -919.0% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $4M |
| GROSS PROFIT | -$1M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $1M |
| Operating Expenses | $14M |
| Cost & Expenses | $18M |
| OPERATING INCOME | -$15M |
| Interest Income | $0 |
| Interest Expense | $886.2K |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | -$16M |
| Income Tax Expense | -$173.5K |
| 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 | $2M |
| EBIT | -$15M |
| EBITDA | -$13M |
| EPS | -$12 |
| EPS Diluted | -$12 |
| Item | Amount |
|---|---|
| Net Income | -$16M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $6M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | -$79.1K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $39.3K |
| NET CASH FROM INVESTING | -$39.9K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $15M |
| NET CASH FROM FINANCING | $15M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | $11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $13M |
| Short-Term Investments | $0 |
| Net Receivables | $10M |
| Inventory | $0 |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $27M |
| PP&E (Net) | $26M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $30M |
| TOTAL ASSETS | $57M |
| Account Payables | $22M |
| Short-Term Debt | $25M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $59M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $2M |
| TOTAL LIABILITIES | $61M |
| Common Stock | $3.6K |
| Additional Paid-In Capital | $249M |
| Retained Earnings | -$252M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $365.4K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$3M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$3M |
| TOTAL LIABILITIES & EQUITY | $57M |
| Total Debt | $28M |
| Net Debt | $15M |
