| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $208.2K | — | $175.2K | — | 18.9% |
| Op. Income | -$1M | — | -$900.2K | — | -30.8% |
| Gross Margin | 18.0% | — | -2.3% | — | 20.3pp |
| Net Margin | -452.5% | — | -1390.1% | — | 937.6pp |
| EPS (Diluted) | $-0.05 | — | $-0.22 | — | 77.1% |
| Free Cash Flow | -$903.6K | — | -$781.0K | — | -15.7% |
| Item | Amount |
|---|---|
| REVENUE | $208.2K |
| Cost of Revenue | $170.8K |
| GROSS PROFIT | $37.5K |
| R&D Expenses | $357.6K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $857.5K |
| Other Expenses | $0 |
| Operating Expenses | $1M |
| Cost & Expenses | $1M |
| OPERATING INCOME | -$1M |
| Interest Income | $27.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $235.5K |
| INCOME BEFORE TAX | -$942.1K |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$942.1K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$942.1K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$942.1K |
| D&A | $4.7K |
| EBIT | -$1M |
| EBITDA | -$1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$942.1K |
| Depreciation & Amortization | $4.7K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$22.4K |
| Change in Working Capital | $58.9K |
| OPERATING CASH FLOW | -$901.0K |
| Capital Expenditure | -$2.6K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $89.1K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $86.5K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $380.6K |
| NET CASH FROM FINANCING | $702.9K |
| FREE CASH FLOW | -$903.6K |
| Net Change in Cash | -$25.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $677.5K |
| Short-Term Investments | $627.5K |
| Net Receivables | $58.2K |
| Inventory | $64.2K |
| Other Current Assets | $50.4K |
| TOTAL CURRENT ASSETS | $2M |
| PP&E (Net) | $119.3K |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $25.3K |
| Tax Assets | $0 |
| Other Non-Current Assets | $3.8K |
| TOTAL NON-CURRENT ASSETS | $148.4K |
| TOTAL ASSETS | $2M |
| Account Payables | $36.5K |
| Short-Term Debt | $77.1K |
| Deferred Revenue | $98.9K |
| Other Current Liabilities | $59.4K |
| TOTAL CURRENT LIABILITIES | $416.9K |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $238.1K |
| TOTAL NON-CURRENT LIABILITIES | $257.2K |
| TOTAL LIABILITIES | $674.2K |
| Common Stock | $34.9K |
| Additional Paid-In Capital | $12M |
| Retained Earnings | -$11M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $990.4K |
| Minority Interest | $0 |
| TOTAL EQUITY | $990.4K |
| TOTAL LIABILITIES & EQUITY | $2M |
| Total Debt | $96.2K |
| Net Debt | -$581.3K |
