| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $113M | $84M | $68M | 35.6% | 66.3% |
| Op. Income | $5M | -$16M | -$23M | 129.8% | 120.7% |
| Gross Margin | 56.4% | 53.5% | 52.6% | 2.9pp | 3.8pp |
| Net Margin | 8.1% | -9.6% | -27.6% | 17.7pp | 35.7pp |
| EPS (Diluted) | $0.34 | $-0.31 | $-0.81 | 209.7% | 142.0% |
| Free Cash Flow | $13M | $26M | -$2M | -51.4% | 611.1% |
| Item | Amount |
|---|---|
| REVENUE | $113M |
| Cost of Revenue | $49M |
| GROSS PROFIT | $64M |
| R&D Expenses | $28M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $31M |
| Other Expenses | $0 |
| Operating Expenses | $59M |
| Cost & Expenses | $109M |
| OPERATING INCOME | $5M |
| Interest Income | $8M |
| Interest Expense | $0 |
| Other Income/Expenses | $5M |
| INCOME BEFORE TAX | $10M |
| Income Tax Expense | $386.0K |
| Net Income from Continuing Ops | $9M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $9M |
| D&A | $0 |
| EBIT | $10M |
| EBITDA | $10M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $113M |
| Cost of Revenue | $49M |
| GROSS PROFIT | $64M |
| R&D Expenses | $28M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $31M |
| Other Expenses | $0 |
| Operating Expenses | $59M |
| Cost & Expenses | $109M |
| OPERATING INCOME | $5M |
| Interest Income | $8M |
| Interest Expense | $0 |
| Other Income/Expenses | $5M |
| INCOME BEFORE TAX | $10M |
| Income Tax Expense | $386.0K |
| Net Income from Continuing Ops | $9M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $9M |
| D&A | $0 |
| EBIT | $10M |
| EBITDA | $10M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $9M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $24M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$24M |
| OPERATING CASH FLOW | $25M |
| Capital Expenditure | -$13M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$439M |
| Sales/Maturities of Investments | $431M |
| Other Investing Activities | -$220.0K |
| NET CASH FROM INVESTING | -$21M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$50M |
| NET CASH FROM FINANCING | -$14M |
| FREE CASH FLOW | $13M |
| Net Change in Cash | -$10M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $17M |
| Short-Term Investments | $792M |
| Net Receivables | $45M |
| Inventory | $82M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $949M |
| PP&E (Net) | $109M |
| Goodwill | $87M |
| Intangible Assets | $147M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $345M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $21M |
| Short-Term Debt | $2M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $46M |
| TOTAL CURRENT LIABILITIES | $84M |
| Long-Term Debt | $1M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $52M |
| TOTAL NON-CURRENT LIABILITIES | $55M |
| TOTAL LIABILITIES | $139M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$225M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $5M |
| Net Debt | -$12M |
