| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $63M | $50M | $69M | 24.5% | -9.0% |
| Op. Income | -$6M | -$16M | -$204.0K | 62.2% | -2802.9% |
| Gross Margin | 80.6% | 79.1% | 80.7% | 1.5pp | -0.1pp |
| Net Margin | -15.0% | -32.4% | -0.7% | 17.4pp | -14.3pp |
| EPS (Diluted) | $-0.15 | $-0.26 | $-0.01 | 42.3% | -1775.0% |
| Free Cash Flow | -$10M | -$12M | -$7M | 12.4% | -43.2% |
| Item | Amount |
|---|---|
| REVENUE | $63M |
| Cost of Revenue | $12M |
| GROSS PROFIT | $50M |
| R&D Expenses | $5M |
| Selling & Marketing | $37M |
| General & Administrative | $15M |
| SG&A Expenses | $52M |
| Other Expenses | $0 |
| Operating Expenses | $56M |
| Cost & Expenses | $68M |
| OPERATING INCOME | -$6M |
| Interest Income | $527.0K |
| Interest Expense | $1M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$9M |
| Income Tax Expense | $0 |
| 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 | $3M |
| EBIT | -$8M |
| EBITDA | -$5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$9M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$13M |
| OPERATING CASH FLOW | -$8M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$6M |
| Sales/Maturities of Investments | $18M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $10M |
| Net Debt Issuance | $1M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$75.0K |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$10M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $11M |
| Short-Term Investments | $38M |
| Net Receivables | $42M |
| Inventory | $36M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $132M |
| PP&E (Net) | $37M |
| Goodwill | $13M |
| Intangible Assets | $7M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $59M |
| TOTAL ASSETS | $191M |
| Account Payables | $7M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $24M |
| TOTAL CURRENT LIABILITIES | $31M |
| Long-Term Debt | $14M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $59M |
| TOTAL NON-CURRENT LIABILITIES | $73M |
| TOTAL LIABILITIES | $103M |
| Common Stock | $64.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$249M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $72.0K |
| Other Equity | $336M |
| TOTAL STOCKHOLDERS' EQUITY | $87M |
| Minority Interest | $0 |
| TOTAL EQUITY | $87M |
| TOTAL LIABILITIES & EQUITY | $191M |
| Total Debt | $14M |
| Net Debt | $3M |
