| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $20M | $21M | $21M | -7.7% | -5.7% |
| Op. Income | -$9M | $672.0K | $6M | -1368.0% | -248.2% |
| Gross Margin | 3.2% | 45.2% | 51.2% | -42.0pp | -48.0pp |
| Net Margin | -35.9% | 2.9% | 18.8% | -38.9pp | -54.7pp |
| EPS (Diluted) | $-1.11 | $0.10 | $0.69 | -1210.0% | -260.9% |
| Free Cash Flow | $0 | $8M | -$3M | -100.0% | 100.0% |
| Item | Amount |
|---|---|
| REVENUE | $20M |
| Cost of Revenue | $19M |
| GROSS PROFIT | $629.0K |
| R&D Expenses | $0 |
| Selling & Marketing | $155.0K |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | $4M |
| Operating Expenses | $9M |
| Cost & Expenses | $28M |
| OPERATING INCOME | -$9M |
| Interest Income | $18M |
| Interest Expense | $8M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$9M |
| Income Tax Expense | -$1M |
| Net Income from Continuing Ops | -$7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$7M |
| D&A | $157.0K |
| EBIT | -$9M |
| EBITDA | -$8M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $7M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $0 |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | $0 |
| Net Change in Cash | -$41M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $12M |
| Short-Term Investments | $277M |
| Net Receivables | $874M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.2B |
| PP&E (Net) | $36M |
| Goodwill | $5M |
| Intangible Assets | $5M |
| Long-Term Investments | $1.3B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$1.3B |
| TOTAL NON-CURRENT ASSETS | $47M |
| TOTAL ASSETS | $1.4B |
| Account Payables | $0 |
| Short-Term Debt | $44M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $44M |
| Long-Term Debt | $46M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.2B |
| TOTAL NON-CURRENT LIABILITIES | $1.3B |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $62.0K |
| Additional Paid-In Capital | $54M |
| Retained Earnings | $72M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $121M |
| Minority Interest | $0 |
| TOTAL EQUITY | $121M |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $107M |
| Net Debt | $96M |
