| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $2M | $3M | -0.4% | -40.8% |
| Op. Income | -$9M | -$16M | -$15M | 43.7% | 39.6% |
| Gross Margin | 31.0% | 50.5% | 53.2% | -19.5pp | -22.2pp |
| Net Margin | -540.0% | -835.8% | -626.0% | 295.8pp | 86.0pp |
| EPS (Diluted) | $-0.22 | $-0.31 | $-0.52 | 29.0% | 57.7% |
| Free Cash Flow | -$5M | -$5M | -$930.0K | -5.4% | -412.4% |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $581.0K |
| R&D Expenses | $442.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $9M |
| Cost & Expenses | $11M |
| OPERATING INCOME | -$9M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | -$10M |
| Income Tax Expense | -$24.0K |
| 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 | $455.0K |
| EBIT | -$9M |
| EBITDA | -$8M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$10M |
| Depreciation & Amortization | $455.0K |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | -$28.0K |
| Other Non-Cash Items | $428.0K |
| Change in Working Capital | -$634.0K |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $451.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | -$3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $268.0K |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $1M |
| Other Current Assets | $417.0K |
| TOTAL CURRENT ASSETS | $3M |
| PP&E (Net) | $557.0K |
| Goodwill | $16M |
| Intangible Assets | $13M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $116.0K |
| TOTAL NON-CURRENT ASSETS | $30M |
| TOTAL ASSETS | $33M |
| Account Payables | $8M |
| Short-Term Debt | $4M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $13M |
| TOTAL CURRENT LIABILITIES | $25M |
| Long-Term Debt | $2M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $293.0K |
| Other Non-Current Liabilities | $517.0K |
| TOTAL NON-CURRENT LIABILITIES | $3M |
| TOTAL LIABILITIES | $28M |
| Common Stock | $0 |
| Additional Paid-In Capital | $165M |
| Retained Earnings | -$161M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5M |
| Minority Interest | $0 |
| TOTAL EQUITY | $5M |
| TOTAL LIABILITIES & EQUITY | $33M |
| Total Debt | $7M |
| Net Debt | $6M |
