| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $10M | $10M | $9M | -4.5% | 7.8% |
| Op. Income | -$5M | -$4M | -$6M | -14.7% | 18.1% |
| Gross Margin | 32.5% | 30.7% | 23.0% | 1.8pp | 9.5pp |
| Net Margin | -47.7% | -41.0% | -61.7% | -6.7pp | 14.1pp |
| EPS (Diluted) | $-0.09 | $-0.08 | $-0.11 | -12.5% | 18.2% |
| Free Cash Flow | -$710.0K | -$2M | -$2M | 68.7% | 52.8% |
| Item | Amount |
|---|---|
| REVENUE | $10M |
| Cost of Revenue | $7M |
| GROSS PROFIT | $3M |
| R&D Expenses | $522.0K |
| Selling & Marketing | $2M |
| General & Administrative | $5M |
| SG&A Expenses | $7M |
| Other Expenses | $287.0K |
| Operating Expenses | $8M |
| Cost & Expenses | $15M |
| OPERATING INCOME | -$5M |
| Interest Income | $0 |
| Interest Expense | $211.0K |
| Other Income/Expenses | -$211.0K |
| INCOME BEFORE TAX | -$5M |
| Income Tax Expense | -$62.0K |
| Net Income from Continuing Ops | -$5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$5M |
| D&A | $2M |
| EBIT | -$5M |
| EBITDA | -$3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$5M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $777.0K |
| Deferred Income Tax | -$67.0K |
| Other Non-Cash Items | $558.0K |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$362.0K |
| Capital Expenditure | -$348.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$3M |
| Sales/Maturities of Investments | $7M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $3M |
| Net Debt Issuance | $1M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$137.0K |
| FREE CASH FLOW | -$710.0K |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6M |
| Short-Term Investments | $0 |
| Net Receivables | $5M |
| Inventory | $7M |
| Other Current Assets | $17M |
| TOTAL CURRENT ASSETS | $35M |
| PP&E (Net) | $56M |
| Goodwill | $0 |
| Intangible Assets | $12M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $69M |
| TOTAL ASSETS | $104M |
| Account Payables | $1M |
| Short-Term Debt | $2M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $4M |
| TOTAL CURRENT LIABILITIES | $8M |
| Long-Term Debt | $13M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $879.0K |
| Other Non-Current Liabilities | $13M |
| TOTAL NON-CURRENT LIABILITIES | $27M |
| TOTAL LIABILITIES | $35M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$136M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $205M |
| TOTAL STOCKHOLDERS' EQUITY | $69M |
| Minority Interest | $0 |
| TOTAL EQUITY | $69M |
| TOTAL LIABILITIES & EQUITY | $104M |
| Total Debt | $15M |
| Net Debt | $9M |
