| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $2M | $3M | -19.9% | -36.3% |
| Op. Income | -$16M | -$8M | -$82M | -94.4% | 80.8% |
| Gross Margin | 50.5% | 57.4% | 56.6% | -6.9pp | -6.1pp |
| Net Margin | -835.8% | -352.0% | -390.6% | -483.8pp | -445.2pp |
| EPS (Diluted) | $-0.31 | $-0.17 | $-0.45 | -82.4% | 31.1% |
| Free Cash Flow | -$5M | -$4M | -$4M | -10.7% | -24.9% |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $931.0K |
| GROSS PROFIT | $951.0K |
| R&D Expenses | $603.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $16M |
| Other Expenses | $0 |
| Operating Expenses | $17M |
| Cost & Expenses | $18M |
| OPERATING INCOME | -$16M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$21.0K |
| INCOME BEFORE TAX | -$16M |
| Income Tax Expense | $16.0K |
| Net Income from Continuing Ops | -$16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$16M |
| Net Income Deductions | -$1M |
| BOTTOM LINE NET INCOME | -$14M |
| D&A | $467.0K |
| EBIT | -$15M |
| EBITDA | -$14M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$16M |
| Depreciation & Amortization | $467.0K |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $16.0K |
| Other Non-Cash Items | $7M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | -$10.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$10.0K |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $6M |
| NET CASH FROM FINANCING | $8M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3M |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $1M |
| Other Current Assets | $593.0K |
| TOTAL CURRENT ASSETS | $7M |
| PP&E (Net) | $698.0K |
| Goodwill | $16M |
| Intangible Assets | $14M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $115.0K |
| TOTAL NON-CURRENT ASSETS | $30M |
| TOTAL ASSETS | $37M |
| Account Payables | $9M |
| Short-Term Debt | $5M |
| Deferred Revenue | $1M |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $28M |
| Long-Term Debt | $1M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $321.0K |
| Other Non-Current Liabilities | $8M |
| TOTAL NON-CURRENT LIABILITIES | $10M |
| TOTAL LIABILITIES | $37M |
| Common Stock | $0 |
| Additional Paid-In Capital | $150M |
| Retained Earnings | -$151M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$336.0K |
| Minority Interest | $0 |
| TOTAL EQUITY | -$336.0K |
| TOTAL LIABILITIES & EQUITY | $37M |
| Total Debt | $7M |
| Net Debt | $3M |
