| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $7M | $4M | — | 62.2% | — |
| Op. Income | -$9M | -$20M | — | 56.5% | — |
| Gross Margin | 37.7% | 40.9% | — | -3.3pp | — |
| Net Margin | -1251.6% | -155.0% | — | -1096.6pp | — |
| EPS (Diluted) | $-6.30 | $-0.48 | — | -1212.5% | — |
| Free Cash Flow | -$2M | -$15M | — | 85.2% | — |
| Item | Amount |
|---|---|
| REVENUE | $7M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $3M |
| R&D Expenses | $7M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $5M |
| Other Expenses | $0 |
| Operating Expenses | $12M |
| Cost & Expenses | $16M |
| OPERATING INCOME | -$9M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | -$78M |
| INCOME BEFORE TAX | -$86M |
| Income Tax Expense | $640.5K |
| Net Income from Continuing Ops | -$87M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$87M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$87M |
| D&A | $2M |
| EBIT | -$74M |
| EBITDA | -$72M |
| EPS | -$6 |
| EPS Diluted | -$6 |
| Item | Amount |
|---|---|
| Net Income | -$87M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $79M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$700.9K |
| Acquisitions (Net) | $422.1K |
| Purchases of Investments | -$3M |
| Sales/Maturities of Investments | $117M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $114M |
| Net Debt Issuance | -$102M |
| Common Stock Repurchased | -$9M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$350.9K |
| NET CASH FROM FINANCING | -$112M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | -$32.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $13M |
| Short-Term Investments | $0 |
| Net Receivables | $16M |
| Inventory | $4M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $35M |
| PP&E (Net) | $6M |
| Goodwill | $13M |
| Intangible Assets | $0 |
| Long-Term Investments | $409.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $195M |
| TOTAL NON-CURRENT ASSETS | $214M |
| TOTAL ASSETS | $249M |
| Account Payables | $11M |
| Short-Term Debt | $6M |
| Deferred Revenue | $6M |
| Other Current Liabilities | $13M |
| TOTAL CURRENT LIABILITIES | $39M |
| Long-Term Debt | $62M |
| Deferred Revenue NC | $5M |
| Deferred Tax Liabilities | $186.0K |
| Other Non-Current Liabilities | $12M |
| TOTAL NON-CURRENT LIABILITIES | $82M |
| TOTAL LIABILITIES | $121M |
| Common Stock | $19M |
| Additional Paid-In Capital | $179M |
| Retained Earnings | -$138M |
| Treasury Stock | -$9M |
| Accum. Other Comp. Income | $78M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $128M |
| Minority Interest | $0 |
| TOTAL EQUITY | $128M |
| TOTAL LIABILITIES & EQUITY | $249M |
| Total Debt | $70M |
| Net Debt | $57M |
