| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5M | $10M | — | -50.9% | — |
| Op. Income | -$13M | -$9M | — | -51.0% | — |
| Gross Margin | -125.5% | 35.0% | — | -160.5pp | — |
| Net Margin | -347.4% | -131.0% | — | -216.4pp | — |
| EPS (Diluted) | $-0.22 | $-0.08 | — | -162.8% | — |
| Free Cash Flow | -$4M | -$6M | — | 25.7% | — |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $11M |
| GROSS PROFIT | -$6M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | $2M |
| Operating Expenses | $7M |
| Cost & Expenses | $18M |
| OPERATING INCOME | -$13M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$16M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$16M |
| D&A | $0 |
| EBIT | $119M |
| EBITDA | $119M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$16M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $3M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | -$725.3K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $154.9K |
| Short-Term Investments | $0 |
| Net Receivables | $25M |
| Inventory | $338.0K |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $28M |
| PP&E (Net) | $390M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $392M |
| TOTAL ASSETS | $419M |
| Account Payables | $40M |
| Short-Term Debt | $122M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $60M |
| TOTAL CURRENT LIABILITIES | $249M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $133M |
| TOTAL NON-CURRENT LIABILITIES | $133M |
| TOTAL LIABILITIES | $382M |
| Common Stock | $20.6K |
| Additional Paid-In Capital | $54M |
| Retained Earnings | -$17M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $38M |
| Minority Interest | $0 |
| TOTAL EQUITY | $38M |
| TOTAL LIABILITIES & EQUITY | $419M |
| Total Debt | $122M |
| Net Debt | $122M |
