| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $64M | $60M | — | 7.7% | — |
| Op. Income | -$13M | -$13M | — | 4.3% | — |
| Gross Margin | 35.3% | 38.0% | — | -2.7pp | — |
| Net Margin | -26.8% | -15.6% | — | -11.2pp | — |
| EPS (Diluted) | $-1.87 | $-1.85 | — | -1.1% | — |
| Free Cash Flow | -$18M | -$4M | — | -364.7% | — |
| Item | Amount |
|---|---|
| REVENUE | $64M |
| Cost of Revenue | $42M |
| GROSS PROFIT | $23M |
| R&D Expenses | $7M |
| Selling & Marketing | $13M |
| General & Administrative | $14M |
| SG&A Expenses | $26M |
| Other Expenses | $2M |
| Operating Expenses | $35M |
| Cost & Expenses | $77M |
| OPERATING INCOME | -$13M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$17M |
| Income Tax Expense | $223.0K |
| Net Income from Continuing Ops | -$17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$17M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$17M |
| D&A | $1M |
| EBIT | -$10M |
| EBITDA | -$9M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$17M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | -$529.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $6M |
| Change in Working Capital | -$6M |
| OPERATING CASH FLOW | -$17M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | -$28M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $39M |
| FREE CASH FLOW | -$18M |
| Net Change in Cash | $21M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $37M |
| Short-Term Investments | $0 |
| Net Receivables | $48M |
| Inventory | $20M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $118M |
| PP&E (Net) | $19M |
| Goodwill | $13M |
| Intangible Assets | $13M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $51M |
| TOTAL ASSETS | $169M |
| Account Payables | $27M |
| Short-Term Debt | $97M |
| Deferred Revenue | $70M |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $224M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $37M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $14M |
| TOTAL NON-CURRENT LIABILITIES | $60M |
| TOTAL LIABILITIES | $284M |
| Common Stock | $133.0K |
| Additional Paid-In Capital | $846M |
| Retained Earnings | -$960M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$888.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$114M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$114M |
| TOTAL LIABILITIES & EQUITY | $169M |
| Total Debt | $106M |
| Net Debt | $68M |
