| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $947.0K | $452.0K | -$759.0K | 109.5% | 224.8% |
| Op. Income | -$22M | -$21M | -$27M | -4.1% | 17.9% |
| Gross Margin | 100.0% | -2731.2% | 100.0% | 2831.2pp | 0.0pp |
| Net Margin | -9775.7% | -7942.9% | 1350.9% | -1832.8pp | -11126.6pp |
| EPS (Diluted) | $-3.46 | $-1.38 | $-0.07 | -150.7% | -4914.5% |
| Free Cash Flow | -$18M | -$17M | -$8M | -7.8% | -136.2% |
| Item | Amount |
|---|---|
| REVENUE | $947.0K |
| Cost of Revenue | $0 |
| GROSS PROFIT | $947.0K |
| R&D Expenses | $15M |
| Selling & Marketing | $0 |
| General & Administrative | $8M |
| SG&A Expenses | $8M |
| Other Expenses | $0 |
| Operating Expenses | $23M |
| Cost & Expenses | $23M |
| OPERATING INCOME | -$22M |
| Interest Income | $1M |
| Interest Expense | $0 |
| Other Income/Expenses | -$80M |
| INCOME BEFORE TAX | -$102M |
| Income Tax Expense | -$9M |
| Net Income from Continuing Ops | -$93M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$93M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$93M |
| D&A | $0 |
| EBIT | -$22M |
| EBITDA | -$22M |
| EPS | -$4 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$93M |
| Depreciation & Amortization | $608.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | -$9M |
| Other Non-Cash Items | $81M |
| Change in Working Capital | -$3.0K |
| OPERATING CASH FLOW | -$18M |
| Capital Expenditure | -$492.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$492.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$52.0K |
| FREE CASH FLOW | -$18M |
| Net Change in Cash | -$18M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $125M |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $0 |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $129M |
| PP&E (Net) | $18M |
| Goodwill | $48M |
| Intangible Assets | $94M |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $167M |
| TOTAL ASSETS | $296M |
| Account Payables | $1M |
| Short-Term Debt | $4M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $9M |
| TOTAL CURRENT LIABILITIES | $15M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $7M |
| Other Non-Current Liabilities | $392M |
| TOTAL NON-CURRENT LIABILITIES | $408M |
| TOTAL LIABILITIES | $423M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $701M |
| Retained Earnings | -$822M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$126M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$126M |
| TOTAL LIABILITIES & EQUITY | $296M |
| Total Debt | $13M |
| Net Debt | -$112M |
