| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $16M | $14M | $14M | 14.5% | 10.7% |
| Op. Income | -$2M | -$3M | -$10M | 18.8% | 77.4% |
| Gross Margin | 62.0% | 55.6% | -8.0% | 6.4pp | 70.0pp |
| Net Margin | -14.5% | -19.3% | -67.2% | 4.9pp | 52.7pp |
| EPS (Diluted) | $-0.02 | $-0.03 | $-2.40 | 41.8% | 99.2% |
| Free Cash Flow | $4M | -$5M | -$2M | 175.5% | 260.4% |
| Item | Amount |
|---|---|
| REVENUE | $16M |
| Cost of Revenue | $6M |
| GROSS PROFIT | $10M |
| R&D Expenses | $0 |
| Selling & Marketing | $46.0K |
| General & Administrative | -$17M |
| SG&A Expenses | -$17M |
| Other Expenses | $29M |
| Operating Expenses | $12M |
| Cost & Expenses | $18M |
| OPERATING INCOME | -$2M |
| Interest Income | $12M |
| Interest Expense | $6M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $112.0K |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$1.0K |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $241.0K |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $913.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $52.0K |
| Other Non-Cash Items | -$7M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | $4M |
| Capital Expenditure | -$143.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $24M |
| Sales/Maturities of Investments | -$2M |
| Other Investing Activities | -$145M |
| NET CASH FROM INVESTING | -$124M |
| Net Debt Issuance | $162.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $136M |
| NET CASH FROM FINANCING | $134M |
| FREE CASH FLOW | $4M |
| Net Change in Cash | -$190M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $186M |
| Short-Term Investments | $210M |
| Net Receivables | $5M |
| Inventory | $0 |
| Other Current Assets | $21M |
| TOTAL CURRENT ASSETS | $422M |
| PP&E (Net) | $28M |
| Goodwill | $0 |
| Intangible Assets | $109.0K |
| Long-Term Investments | $610M |
| Tax Assets | $0 |
| Other Non-Current Assets | $28M |
| TOTAL NON-CURRENT ASSETS | $666M |
| TOTAL ASSETS | $1.1B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $966M |
| TOTAL CURRENT LIABILITIES | $966M |
| Long-Term Debt | $16M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $11M |
| TOTAL NON-CURRENT LIABILITIES | $27M |
| TOTAL LIABILITIES | $993M |
| Common Stock | $1M |
| Additional Paid-In Capital | $206M |
| Retained Earnings | -$100M |
| Treasury Stock | -$1M |
| Accum. Other Comp. Income | -$12M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $95M |
| Minority Interest | $0 |
| TOTAL EQUITY | $95M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $16M |
| Net Debt | -$170M |
