| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $24M | $21M | $212.0K | 12.2% | 11276.4% |
| Op. Income | -$29M | $3M | -$25M | -1191.2% | -15.4% |
| Gross Margin | 93.3% | 100.0% | 100.0% | -6.7pp | -6.7pp |
| Net Margin | -44.5% | 38.0% | -9749.1% | -82.5pp | 9704.5pp |
| EPS (Diluted) | $-0.24 | $0.18 | $-0.64 | -233.3% | 62.5% |
| Free Cash Flow | -$15M | $169M | -$22M | -108.9% | 30.2% |
| Item | Amount |
|---|---|
| REVENUE | $24M |
| Cost of Revenue | $401.0K |
| GROSS PROFIT | $23M |
| R&D Expenses | $32M |
| Selling & Marketing | $0 |
| General & Administrative | $8M |
| SG&A Expenses | $8M |
| Other Expenses | $11M |
| Operating Expenses | $51M |
| Cost & Expenses | $40M |
| OPERATING INCOME | -$29M |
| Interest Income | $5M |
| Interest Expense | $0 |
| Other Income/Expenses | $5M |
| INCOME BEFORE TAX | -$11M |
| Income Tax Expense | $12.0K |
| Net Income from Continuing Ops | -$11M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$11M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$11M |
| D&A | $401.0K |
| EBIT | -$16M |
| EBITDA | -$16M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$11M |
| Depreciation & Amortization | $401.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$318.0K |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | -$15M |
| Capital Expenditure | -$65.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$227M |
| Sales/Maturities of Investments | $42M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$185M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$15M |
| Net Change in Cash | -$199M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $121M |
| Short-Term Investments | $270M |
| Net Receivables | $10M |
| Inventory | $0 |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $411M |
| PP&E (Net) | $26M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $158M |
| Tax Assets | $0 |
| Other Non-Current Assets | $816.0K |
| TOTAL NON-CURRENT ASSETS | $185M |
| TOTAL ASSETS | $596M |
| Account Payables | $10M |
| Short-Term Debt | $2M |
| Deferred Revenue | $62M |
| Other Current Liabilities | $12M |
| TOTAL CURRENT LIABILITIES | $87M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $106M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $127M |
| TOTAL LIABILITIES | $214M |
| Common Stock | $45.0K |
| Additional Paid-In Capital | $549M |
| Retained Earnings | -$167M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $617.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $382M |
| Minority Interest | $0 |
| TOTAL EQUITY | $382M |
| TOTAL LIABILITIES & EQUITY | $596M |
| Total Debt | $24M |
| Net Debt | -$97M |
