| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $17M | $14M | $17M | 19.7% | 3.2% |
| Op. Income | -$25M | -$23M | -$18M | -8.5% | -39.5% |
| Gross Margin | 11.0% | 13.2% | 27.1% | -2.3pp | -16.1pp |
| Net Margin | -137.3% | -149.4% | -97.8% | 12.1pp | -39.5pp |
| EPS (Diluted) | $-0.26 | $-0.24 | $-0.23 | -8.3% | -13.0% |
| Free Cash Flow | -$22M | -$23M | -$9M | 4.7% | -146.9% |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $15M |
| GROSS PROFIT | $2M |
| R&D Expenses | $13M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $14M |
| Other Expenses | $1.0K |
| Operating Expenses | $27M |
| Cost & Expenses | $43M |
| OPERATING INCOME | -$25M |
| Interest Income | $2M |
| Interest Expense | $65.0K |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | -$24M |
| Income Tax Expense | $9.0K |
| Net Income from Continuing Ops | -$24M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$24M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$24M |
| D&A | $2M |
| EBIT | -$24M |
| EBITDA | -$21M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$24M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$787.0K |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$22M |
| Capital Expenditure | -$77.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$54M |
| Sales/Maturities of Investments | $39M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$14M |
| Net Debt Issuance | -$284.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$83.0K |
| NET CASH FROM FINANCING | $111M |
| FREE CASH FLOW | -$22M |
| Net Change in Cash | $74M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $124M |
| Short-Term Investments | $116M |
| Net Receivables | $16M |
| Inventory | $6M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $268M |
| PP&E (Net) | $60M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $66M |
| TOTAL ASSETS | $334M |
| Account Payables | $13M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $27M |
| TOTAL CURRENT LIABILITIES | $40M |
| Long-Term Debt | $32M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $33M |
| TOTAL LIABILITIES | $73M |
| Common Stock | $10.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$631M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $104.0K |
| Other Equity | $892M |
| TOTAL STOCKHOLDERS' EQUITY | $261M |
| Minority Interest | $0 |
| TOTAL EQUITY | $261M |
| TOTAL LIABILITIES & EQUITY | $334M |
| Total Debt | $32M |
| Net Debt | -$92M |
