| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $983.0K | $242.0K | $0 | 306.2% | — |
| Op. Income | -$5M | -$4M | -$4M | -14.2% | -26.4% |
| Gross Margin | 48.3% | 59.9% | — | -11.6pp | — |
| Net Margin | 36.6% | -2433.9% | — | 2470.5pp | — |
| EPS (Diluted) | $0.01 | $-0.27 | $-0.86 | 104.2% | 101.3% |
| Free Cash Flow | -$4M | -$3M | -$1M | -28.4% | -153.6% |
| Item | Amount |
|---|---|
| REVENUE | $983.0K |
| Cost of Revenue | $508.0K |
| GROSS PROFIT | $475.0K |
| R&D Expenses | $558.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $5M |
| Other Expenses | $0 |
| Operating Expenses | $5M |
| Cost & Expenses | $6M |
| OPERATING INCOME | -$5M |
| Interest Income | $4.0K |
| Interest Expense | $671.0K |
| Other Income/Expenses | $5M |
| INCOME BEFORE TAX | $360.0K |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $360.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $360.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $360.0K |
| D&A | $100.0K |
| EBIT | -$5M |
| EBITDA | -$4M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $360.0K |
| Depreciation & Amortization | $100.0K |
| Stock-Based Compensation | $81.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$6M |
| Change in Working Capital | $1M |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $183.0K |
| Purchases of Investments | -$432.0K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$249.0K |
| Net Debt Issuance | $3M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $1.0K |
| NET CASH FROM FINANCING | $5M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | $613.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $8M |
| Short-Term Investments | $0 |
| Net Receivables | $161.0K |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $9M |
| PP&E (Net) | $696.0K |
| Goodwill | $2M |
| Intangible Assets | $925.0K |
| Long-Term Investments | $397.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $253.0K |
| TOTAL NON-CURRENT ASSETS | $4M |
| TOTAL ASSETS | $13M |
| Account Payables | $4M |
| Short-Term Debt | $316.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $23M |
| TOTAL CURRENT LIABILITIES | $29M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $315.0K |
| TOTAL LIABILITIES | $29M |
| Common Stock | $32.0K |
| Additional Paid-In Capital | $291M |
| Retained Earnings | -$307M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$16M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$16M |
| TOTAL LIABILITIES & EQUITY | $13M |
| Total Debt | $631.0K |
| Net Debt | -$7M |
