| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $61M | $70M | $88M | -11.7% | -30.1% |
| Op. Income | -$14M | -$19M | -$4M | 24.6% | -300.3% |
| Gross Margin | 14.7% | 6.6% | 16.9% | 8.1pp | -2.2pp |
| Net Margin | -4.8% | -96.6% | -9.2% | 91.8pp | 4.4pp |
| EPS (Diluted) | $-0.09 | $-1.38 | $-0.12 | 93.4% | 24.2% |
| Free Cash Flow | -$47M | $3M | $397.0K | -1662.4% | -11906.3% |
| Item | Amount |
|---|---|
| REVENUE | $61M |
| Cost of Revenue | $52M |
| GROSS PROFIT | $9M |
| R&D Expenses | $813.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $23M |
| Operating Expenses | $23M |
| Cost & Expenses | $76M |
| OPERATING INCOME | -$14M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | $11M |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | -$182.0K |
| Net Income from Continuing Ops | -$3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$6M |
| D&A | $3M |
| EBIT | -$11M |
| EBITDA | -$7M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $80.0K |
| Other Non-Cash Items | -$14M |
| Change in Working Capital | -$34M |
| OPERATING CASH FLOW | -$45M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | -$29M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$45.0K |
| NET CASH FROM FINANCING | $54M |
| FREE CASH FLOW | -$47M |
| Net Change in Cash | $5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $54M |
| Short-Term Investments | $0 |
| Net Receivables | $76M |
| Inventory | $2M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $142M |
| PP&E (Net) | $35M |
| Goodwill | $72M |
| Intangible Assets | $62M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $172M |
| TOTAL ASSETS | $314M |
| Account Payables | $28M |
| Short-Term Debt | $780.0K |
| Deferred Revenue | $60M |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $119M |
| Long-Term Debt | $104M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $615.0K |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $129M |
| TOTAL LIABILITIES | $247M |
| Common Stock | $8.0K |
| Additional Paid-In Capital | $284M |
| Retained Earnings | -$351M |
| Treasury Stock | -$4M |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $67M |
| Minority Interest | $0 |
| TOTAL EQUITY | $67M |
| TOTAL LIABILITIES & EQUITY | $314M |
| Total Debt | $125M |
| Net Debt | $71M |
