| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $7M | $3M | $10M | 98.2% | -33.8% |
| Op. Income | $6M | -$2M | $5M | 492.4% | 16.8% |
| Gross Margin | 83.9% | 22.8% | 82.8% | 61.1pp | 1.2pp |
| Net Margin | 59.8% | -43.4% | 59.2% | 103.3pp | 0.6pp |
| EPS (Diluted) | $2.04 | $-0.74 | $2.99 | 375.7% | -31.8% |
| Free Cash Flow | -$13M | -$7M | $9M | -82.6% | -244.1% |
| Item | Amount |
|---|---|
| REVENUE | $7M |
| Cost of Revenue | -$7M |
| GROSS PROFIT | $6M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $3.2B |
| SG&A Expenses | $3.2B |
| Other Expenses | $0 |
| Operating Expenses | $3.2B |
| Cost & Expenses | $735.2K |
| OPERATING INCOME | $6M |
| Interest Income | $4M |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | -$484.3K |
| Net Income from Continuing Ops | $4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4M |
| D&A | $0 |
| EBIT | $14M |
| EBITDA | $14M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $7M |
| Cost of Revenue | -$7M |
| GROSS PROFIT | $6M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $3.2B |
| SG&A Expenses | $3.2B |
| Other Expenses | $0 |
| Operating Expenses | $3.2B |
| Cost & Expenses | $735.2K |
| OPERATING INCOME | $6M |
| Interest Income | $4M |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | -$484.3K |
| Net Income from Continuing Ops | $4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4M |
| D&A | $0 |
| EBIT | $14M |
| EBITDA | $14M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $4M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$17M |
| Change in Working Capital | $605.2K |
| OPERATING CASH FLOW | -$13M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $10M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $10M |
| Net Debt Issuance | $3M |
| Common Stock Repurchased | -$4.8K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2.7K |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$13M |
| Net Change in Cash | $18.9K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7M |
| Short-Term Investments | $3M |
| Net Receivables | $2M |
| Inventory | $0 |
| Other Current Assets | -$4M |
| TOTAL CURRENT ASSETS | $8M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $1M |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $1M |
| TOTAL ASSETS | $317M |
| Account Payables | $5M |
| Short-Term Debt | $184.5K |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$184.5K |
| TOTAL CURRENT LIABILITIES | $5M |
| Long-Term Debt | $148M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $151M |
| TOTAL LIABILITIES | $156M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $705M |
| Retained Earnings | -$544M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $161M |
| Minority Interest | $0 |
| TOTAL EQUITY | $161M |
| TOTAL LIABILITIES & EQUITY | $317M |
| Total Debt | $150M |
| Net Debt | $143M |
