| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $47M | $31M | $6M | 52.2% | 623.5% |
| Op. Income | -$2M | -$2M | -$2M | 19.3% | 12.7% |
| Gross Margin | 2.7% | 3.1% | 14.5% | -0.4pp | -11.8pp |
| Net Margin | -1.9% | -7.4% | -60.6% | 5.5pp | 58.8pp |
| EPS (Diluted) | $-0.02 | $-0.05 | $-0.09 | 67.7% | 81.6% |
| Free Cash Flow | -$3M | $3M | -$1M | -174.1% | -92.1% |
| Item | Amount |
|---|---|
| REVENUE | $47M |
| Cost of Revenue | $45M |
| GROSS PROFIT | $1M |
| R&D Expenses | $0 |
| Selling & Marketing | $71.3K |
| General & Administrative | $2M |
| SG&A Expenses | $2M |
| Other Expenses | $637.7K |
| Operating Expenses | $3M |
| Cost & Expenses | $48M |
| OPERATING INCOME | -$2M |
| Interest Income | $72.1K |
| Interest Expense | $278.0K |
| Other Income/Expenses | $245.7K |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | -$449.1K |
| Net Income from Continuing Ops | -$872.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$872.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$872.0K |
| D&A | -$1.2B |
| EBIT | -$2M |
| EBITDA | -$1.2B |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$872.2K |
| Depreciation & Amortization | $407.1K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$535.9K |
| Other Non-Cash Items | $1M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | -$4 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $5M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $5M |
| Net Debt Issuance | -$686.7K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$69.3K |
| NET CASH FROM FINANCING | -$333.5K |
| FREE CASH FLOW | -$3M |
| Net Change in Cash | $2M |
