| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $290M | $249M | $283M | 16.5% | 2.7% |
| Op. Income | $8M | -$20M | -$582.0K | 141.3% | 1525.1% |
| Gross Margin | 57.7% | 53.9% | 55.7% | 3.8pp | 2.0pp |
| Net Margin | -0.2% | -8.5% | 0.3% | 8.3pp | -0.5pp |
| EPS (Diluted) | $-0.01 | $-0.31 | $0.01 | 97.2% | -176.3% |
| Free Cash Flow | $3M | $4M | $8M | -25.6% | -59.4% |
| Item | Amount |
|---|---|
| REVENUE | $290M |
| Cost of Revenue | $123M |
| GROSS PROFIT | $167M |
| R&D Expenses | $46M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $113M |
| Other Expenses | $0 |
| Operating Expenses | $159M |
| Cost & Expenses | $282M |
| OPERATING INCOME | $8M |
| Interest Income | $3M |
| Interest Expense | $2M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | -$589.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$589.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$589.0K |
| D&A | $4M |
| EBIT | $7M |
| EBITDA | $11M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$589.0K |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $20M |
| Deferred Income Tax | $5M |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$24M |
| OPERATING CASH FLOW | $10M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$8M |
| NET CASH FROM INVESTING | -$15M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | $3M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $91M |
| Short-Term Investments | $202M |
| Net Receivables | $165M |
| Inventory | $129M |
| Other Current Assets | $31M |
| TOTAL CURRENT ASSETS | $618M |
| PP&E (Net) | $180M |
| Goodwill | $0 |
| Intangible Assets | $12M |
| Long-Term Investments | $60M |
| Tax Assets | $0 |
| Other Non-Current Assets | $11M |
| TOTAL NON-CURRENT ASSETS | $263M |
| TOTAL ASSETS | $881M |
| Account Payables | $47M |
| Short-Term Debt | $24M |
| Deferred Revenue | $10M |
| Other Current Liabilities | $91M |
| TOTAL CURRENT LIABILITIES | $243M |
| Long-Term Debt | $425M |
| Deferred Revenue NC | $8M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$65M |
| TOTAL NON-CURRENT LIABILITIES | $483M |
| TOTAL LIABILITIES | $726M |
| Common Stock | $68.0K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$1.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $155M |
| Minority Interest | $0 |
| TOTAL EQUITY | $155M |
| TOTAL LIABILITIES & EQUITY | $881M |
| Total Debt | $564M |
| Net Debt | $474M |
