| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $7M | $10M | $18M | -27.8% | -59.4% |
| Op. Income | -$25M | -$19M | -$38M | -27.8% | 34.3% |
| Gross Margin | 38.1% | -8.9% | -13.6% | 47.1pp | 51.7pp |
| Net Margin | -436.1% | -190.2% | -221.7% | -245.9pp | -214.3pp |
| EPS (Diluted) | $-0.14 | $-0.09 | $-0.21 | -54.9% | 33.3% |
| Free Cash Flow | -$8M | -$11M | -$11M | 24.0% | 24.1% |
| Item | Amount |
|---|---|
| REVENUE | $7M |
| Cost of Revenue | $5M |
| GROSS PROFIT | $3M |
| R&D Expenses | $12M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $10M |
| Other Expenses | $5M |
| Operating Expenses | $28M |
| Cost & Expenses | $32M |
| OPERATING INCOME | -$25M |
| Interest Income | $0 |
| Interest Expense | $369.0K |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | -$32M |
| Income Tax Expense | -$61.0K |
| Net Income from Continuing Ops | -$32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$32M |
| D&A | $6M |
| EBIT | -$32M |
| EBITDA | -$26M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$32M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $34.0K |
| Other Non-Cash Items | -$4M |
| Change in Working Capital | $14M |
| OPERATING CASH FLOW | -$8M |
| Capital Expenditure | -$48.0K |
| Acquisitions (Net) | $46.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2.0K |
| Net Debt Issuance | -$78.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $95M |
| FREE CASH FLOW | -$8M |
| Net Change in Cash | $87M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $237M |
| Short-Term Investments | $0 |
| Net Receivables | $4M |
| Inventory | $13M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $260M |
| PP&E (Net) | $16M |
| Goodwill | $163M |
| Intangible Assets | $53M |
| Long-Term Investments | $8M |
| Tax Assets | $0 |
| Other Non-Current Assets | $580.0K |
| TOTAL NON-CURRENT ASSETS | $241M |
| TOTAL ASSETS | $500M |
| Account Payables | $22M |
| Short-Term Debt | $2M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $28M |
| TOTAL CURRENT LIABILITIES | $52M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $405.0K |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $5M |
| TOTAL LIABILITIES | $57M |
| Common Stock | $26.0K |
| Additional Paid-In Capital | $945M |
| Retained Earnings | -$502M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $444M |
| Minority Interest | $0 |
| TOTAL EQUITY | $444M |
| TOTAL LIABILITIES & EQUITY | $500M |
| Total Debt | $6M |
| Net Debt | -$230M |
