| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $421.0K | $690.0K | $501.0K | -39.0% | -16.0% |
| Op. Income | -$2M | -$1M | -$1M | -39.6% | -49.6% |
| Gross Margin | 55.3% | 62.8% | 60.9% | -7.4pp | -5.5pp |
| Net Margin | -428.5% | -188.1% | -250.5% | -240.4pp | -178.0pp |
| EPS (Diluted) | $-0.35 | $-0.28 | $-2.07 | -25.0% | 83.1% |
| Free Cash Flow | -$2M | -$1M | -$1M | -18.0% | -36.0% |
| Item | Amount |
|---|---|
| REVENUE | $421.0K |
| Cost of Revenue | $188.0K |
| GROSS PROFIT | $233.0K |
| R&D Expenses | $453.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $2M |
| OPERATING INCOME | -$2M |
| Interest Income | $82.0K |
| Interest Expense | $5.0K |
| Other Income/Expenses | $77.0K |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $32.0K |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $32.0K |
| Stock-Based Compensation | $36.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $32.0K |
| Change in Working Capital | $40.0K |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$13.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $2M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $2M |
| Net Debt Issuance | -$14.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$26.0K |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | $297.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $8M |
| Short-Term Investments | $994.0K |
| Net Receivables | $201.0K |
| Inventory | $994.0K |
| Other Current Assets | $297.0K |
| TOTAL CURRENT ASSETS | $10M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $36.0K |
| TOTAL NON-CURRENT ASSETS | $3M |
| TOTAL ASSETS | $13M |
| Account Payables | $183.0K |
| Short-Term Debt | $200.0K |
| Deferred Revenue | $32.0K |
| Other Current Liabilities | $383.0K |
| TOTAL CURRENT LIABILITIES | $798.0K |
| Long-Term Debt | $2M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $2M |
| TOTAL LIABILITIES | $3M |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $152M |
| Retained Earnings | -$142M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $10M |
| Minority Interest | $0 |
| TOTAL EQUITY | $10M |
| TOTAL LIABILITIES & EQUITY | $13M |
| Total Debt | $3M |
| Net Debt | -$5M |
