| Metric | Q4 2026 | Q3 2026 | Q4 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $87M | $81M | $62M | 6.9% | 41.1% |
| Op. Income | -$36M | -$18M | -$19M | -96.3% | -85.9% |
| Gross Margin | 54.2% | 57.3% | 62.1% | -3.2pp | -7.9pp |
| Net Margin | -175.6% | -72.8% | -57.1% | -102.8pp | -118.5pp |
| EPS (Diluted) | $-0.48 | $-0.19 | $-0.12 | -152.6% | -300.0% |
| Free Cash Flow | -$951.0K | $650.0K | -$19M | -246.3% | 95.1% |
| Item | Amount |
|---|---|
| REVENUE | $87M |
| Cost of Revenue | $40M |
| GROSS PROFIT | $47M |
| R&D Expenses | $32M |
| Selling & Marketing | $20M |
| General & Administrative | $31M |
| SG&A Expenses | $51M |
| Other Expenses | $0 |
| Operating Expenses | $83M |
| Cost & Expenses | $123M |
| OPERATING INCOME | -$36M |
| Interest Income | $6M |
| Interest Expense | $2M |
| Other Income/Expenses | -$114M |
| INCOME BEFORE TAX | -$150M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$152M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$152M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$152M |
| D&A | $0 |
| EBIT | -$36M |
| EBITDA | -$36M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$152M |
| Depreciation & Amortization | $10M |
| Stock-Based Compensation | $16M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $120M |
| Change in Working Capital | $27M |
| OPERATING CASH FLOW | $21M |
| Capital Expenditure | -$22M |
| Acquisitions (Net) | -$1M |
| Purchases of Investments | -$221M |
| Sales/Maturities of Investments | $45M |
| Other Investing Activities | -$6M |
| NET CASH FROM INVESTING | -$204M |
| Net Debt Issuance | -$40M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | -$31M |
| FREE CASH FLOW | -$951.0K |
| Net Change in Cash | -$214M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $230M |
| Short-Term Investments | $411M |
| Net Receivables | $84M |
| Inventory | $6M |
| Other Current Assets | $45M |
| TOTAL CURRENT ASSETS | $775M |
| PP&E (Net) | $165M |
| Goodwill | $143M |
| Intangible Assets | $27M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $35M |
| TOTAL NON-CURRENT ASSETS | $370M |
| TOTAL ASSETS | $1.1B |
| Account Payables | $11M |
| Short-Term Debt | $7M |
| Deferred Revenue | $221M |
| Other Current Liabilities | $231M |
| TOTAL CURRENT LIABILITIES | $469M |
| Long-Term Debt | $447M |
| Deferred Revenue NC | $28M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $488M |
| TOTAL LIABILITIES | $957M |
| Common Stock | $34.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $188M |
| Minority Interest | $0 |
| TOTAL EQUITY | $188M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $462M |
| Net Debt | $232M |
