| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $11M | $12M | $9M | -6.2% | 29.7% |
| Op. Income | -$7M | $8M | $6M | -182.1% | -207.0% |
| Gross Margin | -31.3% | 100.0% | 100.0% | -131.3pp | -131.3pp |
| Net Margin | -81.4% | 66.8% | 61.7% | -148.2pp | -143.0pp |
| EPS (Diluted) | $-0.33 | $0.29 | $0.28 | -213.8% | -217.9% |
| Free Cash Flow | $35M | $0 | $0 | — | — |
| Item | Amount |
|---|---|
| REVENUE | $11M |
| Cost of Revenue | $4M |
| GROSS PROFIT | -$3M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | -$7M |
| SG&A Expenses | -$7M |
| Other Expenses | $27M |
| Operating Expenses | $21M |
| Cost & Expenses | $18M |
| OPERATING INCOME | -$7M |
| Interest Income | $12M |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$9M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$9M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$9M |
| D&A | $0 |
| EBIT | -$7M |
| EBITDA | -$7M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$9M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $43M |
| Change in Working Capital | $491.0K |
| OPERATING CASH FLOW | $35M |
| Capital Expenditure | $5 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$139M |
| Sales/Maturities of Investments | $54M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$85M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$31M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $39M |
| FREE CASH FLOW | $35M |
| Net Change in Cash | $14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $14M |
| Short-Term Investments | $0 |
| Net Receivables | $422.6K |
| Inventory | $0 |
| Other Current Assets | -$422.6K |
| TOTAL CURRENT ASSETS | $14M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $257M |
| Tax Assets | $0 |
| Other Non-Current Assets | $778.2K |
| TOTAL NON-CURRENT ASSETS | $257M |
| TOTAL ASSETS | $271M |
| Account Payables | $0 |
| Short-Term Debt | $26M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$26M |
| TOTAL CURRENT LIABILITIES | $3M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $114M |
| TOTAL NON-CURRENT LIABILITIES | $114M |
| TOTAL LIABILITIES | $118M |
| Common Stock | $28.0K |
| Additional Paid-In Capital | $219M |
| Retained Earnings | -$66M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $153M |
| Minority Interest | $0 |
| TOTAL EQUITY | $153M |
| TOTAL LIABILITIES & EQUITY | $271M |
| Total Debt | $114M |
| Net Debt | $100M |
