| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $13M | $15M | $17M | -8.9% | -22.4% |
| Op. Income | -$70M | -$69M | -$51M | -1.5% | -37.9% |
| Gross Margin | 88.0% | 87.8% | 92.8% | 0.2pp | -4.8pp |
| Net Margin | -488.0% | -477.3% | -283.3% | -10.7pp | -204.7pp |
| EPS (Diluted) | $-0.29 | $-0.38 | $-0.29 | 23.7% | 0.0% |
| Free Cash Flow | -$57M | -$57M | -$40M | -0.7% | -44.0% |
| Item | Amount |
|---|---|
| REVENUE | $13M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $12M |
| R&D Expenses | $51M |
| Selling & Marketing | $13M |
| General & Administrative | $18M |
| SG&A Expenses | $31M |
| Other Expenses | $0 |
| Operating Expenses | $81M |
| Cost & Expenses | $83M |
| OPERATING INCOME | -$70M |
| Interest Income | $7M |
| Interest Expense | $3M |
| Other Income/Expenses | $5M |
| INCOME BEFORE TAX | -$65M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$65M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$65M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$65M |
| D&A | $1M |
| EBIT | -$62M |
| EBITDA | -$61M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$65M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $11M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$100.0K |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$54M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $449M |
| FREE CASH FLOW | -$57M |
| Net Change in Cash | $392M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $737M |
| Short-Term Investments | $0 |
| Net Receivables | $31M |
| Inventory | $4M |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $782M |
| PP&E (Net) | $24M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $26M |
| TOTAL ASSETS | $808M |
| Account Payables | $4M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $51M |
| Long-Term Debt | $71M |
| Deferred Revenue NC | $14M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $15M |
| TOTAL NON-CURRENT LIABILITIES | $103M |
| TOTAL LIABILITIES | $154M |
| Common Stock | $22.0K |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $654M |
| Minority Interest | $0 |
| TOTAL EQUITY | $654M |
| TOTAL LIABILITIES & EQUITY | $808M |
| Total Debt | $77M |
| Net Debt | -$660M |
