| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $46M | $53M | $67M | -12.3% | -30.1% |
| Op. Income | -$6M | -$450.0K | -$4M | -1237.8% | -53.0% |
| Gross Margin | 40.8% | 28.1% | 24.5% | 12.6pp | 16.3pp |
| Net Margin | -25.1% | -1.3% | -7.5% | -23.7pp | -17.5pp |
| EPS (Diluted) | $-0.56 | $-0.03 | $-0.25 | -1532.7% | -124.0% |
| Free Cash Flow | $5M | -$2M | $6M | 338.0% | -21.3% |
| Item | Amount |
|---|---|
| REVENUE | $46M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $19M |
| R&D Expenses | $0 |
| Selling & Marketing | $9M |
| General & Administrative | $12M |
| SG&A Expenses | $22M |
| Other Expenses | $3M |
| Operating Expenses | $25M |
| Cost & Expenses | $52M |
| OPERATING INCOME | -$6M |
| Interest Income | $0 |
| Interest Expense | $123.0K |
| Other Income/Expenses | $38.0K |
| INCOME BEFORE TAX | -$6M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | -$12M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$12M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$12M |
| D&A | $2M |
| EBIT | -$5M |
| EBITDA | -$3M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$12M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $14M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | $7M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$5.0K |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$5.0K |
| FREE CASH FLOW | $5M |
| Net Change in Cash | $5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $55M |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $16M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $79M |
| PP&E (Net) | $30M |
| Goodwill | $27M |
| Intangible Assets | $13M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $70M |
| TOTAL ASSETS | $149M |
| Account Payables | $24M |
| Short-Term Debt | $461.0K |
| Deferred Revenue | $2M |
| Other Current Liabilities | $37M |
| TOTAL CURRENT LIABILITIES | $63M |
| Long-Term Debt | $535.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $263.0K |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $798.0K |
| TOTAL LIABILITIES | $64M |
| Common Stock | $21.0K |
| Additional Paid-In Capital | $19M |
| Retained Earnings | $67M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $85M |
| Minority Interest | $0 |
| TOTAL EQUITY | $85M |
| TOTAL LIABILITIES & EQUITY | $149M |
| Total Debt | $996.0K |
| Net Debt | -$54M |
