| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $21M | $21M | $18M | 0.9% | 18.2% |
| Op. Income | -$7M | -$8M | -$8M | 12.0% | 20.4% |
| Gross Margin | 65.9% | 67.5% | 63.6% | -1.6pp | 2.3pp |
| Net Margin | -43.3% | -41.6% | -52.2% | -1.7pp | 8.9pp |
| EPS (Diluted) | $-0.17 | $-0.19 | $-0.23 | 10.5% | 26.1% |
| Free Cash Flow | -$5M | -$6M | -$8M | 16.3% | 36.4% |
| Item | Amount |
|---|---|
| REVENUE | $21M |
| Cost of Revenue | $7M |
| GROSS PROFIT | $14M |
| R&D Expenses | $2M |
| Selling & Marketing | $14M |
| General & Administrative | $4M |
| SG&A Expenses | $18M |
| Other Expenses | $0 |
| Operating Expenses | $20M |
| Cost & Expenses | $28M |
| OPERATING INCOME | -$7M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$9M |
| Income Tax Expense | $145.0K |
| 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 | -$7M |
| EBITDA | -$7M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$9M |
| Depreciation & Amortization | $225.0K |
| Stock-Based Compensation | $812.0K |
| Deferred Income Tax | $145.0K |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $1M |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | -$91.0K |
| Acquisitions (Net) | $283.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $192.0K |
| Net Debt Issuance | $14M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$4.0K |
| NET CASH FROM FINANCING | $26M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | $21M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $51M |
| Short-Term Investments | $0 |
| Net Receivables | $10M |
| Inventory | $11M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $76M |
| PP&E (Net) | $4M |
| Goodwill | $0 |
| Intangible Assets | $1M |
| Long-Term Investments | $250.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $500.0K |
| TOTAL NON-CURRENT ASSETS | $6M |
| TOTAL ASSETS | $81M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $16M |
| TOTAL CURRENT LIABILITIES | $18M |
| Long-Term Debt | $56M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $57M |
| TOTAL LIABILITIES | $75M |
| Common Stock | $44.0K |
| Additional Paid-In Capital | $404M |
| Retained Earnings | -$398M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $91.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6M |
| Minority Interest | $0 |
| TOTAL EQUITY | $6M |
| TOTAL LIABILITIES & EQUITY | $81M |
| Total Debt | $56M |
| Net Debt | $5M |
