| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $10M | — | $7M | — | 31.5% |
| Op. Income | -$4M | — | -$3M | — | -32.6% |
| Gross Margin | 4.8% | — | 5.8% | — | -1.0pp |
| Net Margin | -9.5% | — | -52.5% | — | 43.0pp |
| EPS (Diluted) | $-3.73 | — | $-544.99 | — | 99.3% |
| Free Cash Flow | -$4M | — | -$2M | — | -54.1% |
| Item | Amount |
|---|---|
| REVENUE | $10M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $470.0K |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $4M |
| Other Expenses | $0 |
| Operating Expenses | $4M |
| Cost & Expenses | $14M |
| OPERATING INCOME | -$4M |
| Interest Income | $94.0K |
| Interest Expense | $575.0K |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | -$642.0K |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$935.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$935.0K |
| D&A | $737.0K |
| EBIT | -$4M |
| EBITDA | -$3M |
| EPS | -$4 |
| EPS Diluted | -$4 |
| Item | Amount |
|---|---|
| Net Income | -$935.0K |
| Depreciation & Amortization | $737.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$649.0K |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | -$591.0K |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | -$5.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$507.0K |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | -$4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2M |
| Short-Term Investments | $0 |
| Net Receivables | $916.0K |
| Inventory | $5M |
| Other Current Assets | $22.0K |
| TOTAL CURRENT ASSETS | $8M |
| PP&E (Net) | $3M |
| Goodwill | $951.0K |
| Intangible Assets | $6M |
| Long-Term Investments | $515.0K |
| Tax Assets | $134.0K |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $15M |
| TOTAL ASSETS | $22M |
| Account Payables | $634.0K |
| Short-Term Debt | $329.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $381.0K |
| TOTAL CURRENT LIABILITIES | $4M |
| Long-Term Debt | $2M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $6M |
| TOTAL LIABILITIES | $10M |
| Common Stock | $0 |
| Additional Paid-In Capital | $32M |
| Retained Earnings | -$20M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | -$319.0K |
| TOTAL STOCKHOLDERS' EQUITY | $11M |
| Minority Interest | $1M |
| TOTAL EQUITY | $12M |
| TOTAL LIABILITIES & EQUITY | $22M |
| Total Debt | $5M |
| Net Debt | $4M |
