| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $93M | $96M | $92M | -3.3% | 1.4% |
| Op. Income | -$3M | $656.0K | -$4M | -511.3% | 25.3% |
| Gross Margin | 51.2% | 50.3% | 50.5% | 0.9pp | 0.7pp |
| Net Margin | -1.2% | -13.3% | -2.9% | 12.1pp | 1.7pp |
| EPS (Diluted) | $-0.04 | $-0.44 | $-0.09 | 91.4% | 60.1% |
| Free Cash Flow | $14M | $18M | $8M | -24.1% | 60.4% |
| Item | Amount |
|---|---|
| REVENUE | $93M |
| Cost of Revenue | $45M |
| GROSS PROFIT | $48M |
| R&D Expenses | $27M |
| Selling & Marketing | $10M |
| General & Administrative | $13M |
| SG&A Expenses | $23M |
| Other Expenses | $0 |
| Operating Expenses | $50M |
| Cost & Expenses | $96M |
| OPERATING INCOME | -$3M |
| Interest Income | $0 |
| Interest Expense | $798.0K |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$987.0K |
| Income Tax Expense | $152.0K |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1M |
| D&A | $4M |
| EBIT | -$189.0K |
| EBITDA | $4M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$1M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$99.0K |
| Other Non-Cash Items | $15M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $15M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$56M |
| Sales/Maturities of Investments | $39M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$19M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$621.0K |
| NET CASH FROM FINANCING | $149.0K |
| FREE CASH FLOW | $14M |
| Net Change in Cash | -$4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $48M |
| Short-Term Investments | $127M |
| Net Receivables | $71M |
| Inventory | $85M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $339M |
| PP&E (Net) | $71M |
| Goodwill | $21M |
| Intangible Assets | $10M |
| Long-Term Investments | $104M |
| Tax Assets | $0 |
| Other Non-Current Assets | $795.0K |
| TOTAL NON-CURRENT ASSETS | $206M |
| TOTAL ASSETS | $545M |
| Account Payables | $14M |
| Short-Term Debt | $98M |
| Deferred Revenue | $2M |
| Other Current Liabilities | $14M |
| TOTAL CURRENT LIABILITIES | $127M |
| Long-Term Debt | $207M |
| Deferred Revenue NC | $690.0K |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | -$23M |
| TOTAL NON-CURRENT LIABILITIES | $209M |
| TOTAL LIABILITIES | $336M |
| Common Stock | $30.0K |
| Additional Paid-In Capital | $607M |
| Retained Earnings | -$400M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $209M |
| Minority Interest | $0 |
| TOTAL EQUITY | $209M |
| TOTAL LIABILITIES & EQUITY | $545M |
| Total Debt | $327M |
| Net Debt | $279M |
