| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $29M | $29M | $29M | -1.9% | -2.0% |
| Op. Income | -$17M | -$16M | -$22M | -9.7% | 20.7% |
| Gross Margin | 42.4% | 39.4% | 36.5% | 3.0pp | 5.9pp |
| Net Margin | -67.5% | -60.6% | -87.0% | -6.9pp | 19.5pp |
| EPS (Diluted) | $-1.09 | $-1.00 | $-7.35 | -9.0% | 85.2% |
| Free Cash Flow | -$10M | -$6M | -$17M | -50.4% | 41.1% |
| Item | Amount |
|---|---|
| REVENUE | $29M |
| Cost of Revenue | $17M |
| GROSS PROFIT | $12M |
| R&D Expenses | $5M |
| Selling & Marketing | $13M |
| General & Administrative | $12M |
| SG&A Expenses | $25M |
| Other Expenses | -$284.0K |
| Operating Expenses | $30M |
| Cost & Expenses | $46M |
| OPERATING INCOME | -$17M |
| Interest Income | $2M |
| Interest Expense | $3M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$19M |
| Income Tax Expense | $95.0K |
| Net Income from Continuing Ops | -$19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$19M |
| D&A | $881.0K |
| EBIT | -$17M |
| EBITDA | -$16M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$19M |
| Depreciation & Amortization | $881.0K |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | $1M |
| OPERATING CASH FLOW | -$10M |
| Capital Expenditure | -$223.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$28M |
| Sales/Maturities of Investments | $37M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $9M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | -$10M |
| Net Change in Cash | -$931.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $35M |
| Short-Term Investments | $134M |
| Net Receivables | $28M |
| Inventory | $48M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $251M |
| PP&E (Net) | $9M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $4M |
| Tax Assets | $0 |
| Other Non-Current Assets | $317.0K |
| TOTAL NON-CURRENT ASSETS | $14M |
| TOTAL ASSETS | $264M |
| Account Payables | $554.0K |
| Short-Term Debt | $2M |
| Deferred Revenue | $14M |
| Other Current Liabilities | $11M |
| TOTAL CURRENT LIABILITIES | $38M |
| Long-Term Debt | $100M |
| Deferred Revenue NC | $406.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$3M |
| TOTAL NON-CURRENT LIABILITIES | $100M |
| TOTAL LIABILITIES | $138M |
| Common Stock | $18.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $172.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $127M |
| Minority Interest | $0 |
| TOTAL EQUITY | $127M |
| TOTAL LIABILITIES & EQUITY | $264M |
| Total Debt | $105M |
| Net Debt | $70M |
