| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $14M | $581.0K | $8M | 2348.9% | 88.4% |
| Op. Income | -$25M | -$36M | -$26M | 29.8% | 3.9% |
| Gross Margin | 46.6% | 100.0% | 100.0% | -53.4pp | -53.4pp |
| Net Margin | -263.0% | -6012.0% | -309.8% | 5749.1pp | 46.8pp |
| EPS (Diluted) | $-0.11 | $-0.11 | $-0.11 | 0.0% | 0.0% |
| Free Cash Flow | -$24M | -$29M | -$4M | 14.5% | -597.0% |
| Item | Amount |
|---|---|
| REVENUE | $14M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $7M |
| R&D Expenses | $31M |
| Selling & Marketing | $0 |
| General & Administrative | $8M |
| SG&A Expenses | $8M |
| Other Expenses | -$8M |
| Operating Expenses | $32M |
| Cost & Expenses | $39M |
| OPERATING INCOME | -$25M |
| Interest Income | $252.0K |
| Interest Expense | $0 |
| Other Income/Expenses | -$13M |
| INCOME BEFORE TAX | -$38M |
| Income Tax Expense | -$553.0K |
| Net Income from Continuing Ops | -$37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$37M |
| D&A | $2M |
| EBIT | -$25M |
| EBITDA | -$23M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$37M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $13M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | -$24M |
| Capital Expenditure | -$14.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$14.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$349.0K |
| NET CASH FROM FINANCING | $15M |
| FREE CASH FLOW | -$24M |
| Net Change in Cash | -$10M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $21M |
| Short-Term Investments | $0 |
| Net Receivables | $371.0K |
| Inventory | $0 |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $36M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $24M |
| TOTAL NON-CURRENT ASSETS | $24M |
| TOTAL ASSETS | $60M |
| Account Payables | $14M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $26M |
| TOTAL CURRENT LIABILITIES | $42M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $6M |
| TOTAL NON-CURRENT LIABILITIES | $32M |
| TOTAL LIABILITIES | $74M |
| Common Stock | $4M |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$14M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$14M |
| TOTAL LIABILITIES & EQUITY | $60M |
| Total Debt | $27M |
| Net Debt | $6M |
