| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $76M | $83M | $68M | -8.3% | 11.9% |
| Op. Income | -$31M | -$23M | -$20M | -33.8% | -57.5% |
| Gross Margin | 60.6% | 64.8% | 64.0% | -4.2pp | -3.4pp |
| Net Margin | -39.1% | -25.7% | -27.6% | -13.4pp | -11.4pp |
| EPS (Diluted) | $-0.54 | $-0.38 | $-0.35 | -42.1% | -54.3% |
| Free Cash Flow | -$12M | -$10M | -$34M | -28.1% | 63.7% |
| Item | Amount |
|---|---|
| REVENUE | $76M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $46M |
| R&D Expenses | $19M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $58M |
| Other Expenses | $0 |
| Operating Expenses | $77M |
| Cost & Expenses | $107M |
| OPERATING INCOME | -$31M |
| Interest Income | $878.0K |
| Interest Expense | $6M |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | -$30M |
| Income Tax Expense | $190.0K |
| Net Income from Continuing Ops | -$30M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$30M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$30M |
| D&A | $2M |
| EBIT | -$23M |
| EBITDA | -$22M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$30M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $11M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | $8M |
| OPERATING CASH FLOW | -$10M |
| 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 | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | -$12M |
| Net Change in Cash | -$8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $287M |
| Short-Term Investments | $0 |
| Net Receivables | $84M |
| Inventory | $71M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $450M |
| PP&E (Net) | $48M |
| Goodwill | $0 |
| Intangible Assets | $709.0K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $58M |
| TOTAL ASSETS | $508M |
| Account Payables | $17M |
| Short-Term Debt | $0 |
| Deferred Revenue | $13M |
| Other Current Liabilities | $35M |
| TOTAL CURRENT LIABILITIES | $66M |
| Long-Term Debt | $52M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $25M |
| TOTAL NON-CURRENT LIABILITIES | $76M |
| TOTAL LIABILITIES | $142M |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$642M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1.0B |
| TOTAL STOCKHOLDERS' EQUITY | $366M |
| Minority Interest | $0 |
| TOTAL EQUITY | $366M |
| TOTAL LIABILITIES & EQUITY | $508M |
| Total Debt | $52M |
| Net Debt | -$235M |
