| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $104M | $99M | $89M | 4.7% | 16.9% |
| Op. Income | -$33M | -$30M | -$35M | -9.9% | 5.0% |
| Gross Margin | 52.0% | 51.3% | 48.3% | 0.7pp | 3.8pp |
| Net Margin | -29.4% | -27.4% | -35.6% | -2.0pp | 6.2pp |
| EPS (Diluted) | $-0.50 | $-0.45 | $-0.53 | -11.1% | 5.7% |
| Free Cash Flow | -$35M | -$24M | -$24M | -43.5% | -46.8% |
| Item | Amount |
|---|---|
| REVENUE | $104M |
| Cost of Revenue | $50M |
| GROSS PROFIT | $54M |
| R&D Expenses | $17M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $70M |
| Other Expenses | $0 |
| Operating Expenses | $87M |
| Cost & Expenses | $137M |
| OPERATING INCOME | -$33M |
| Interest Income | $2M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$30M |
| Income Tax Expense | $253.0K |
| Net Income from Continuing Ops | -$31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$31M |
| D&A | $6M |
| EBIT | -$30M |
| EBITDA | -$24M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$31M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $13M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$336.0K |
| Change in Working Capital | -$13M |
| OPERATING CASH FLOW | -$25M |
| Capital Expenditure | -$10M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$21M |
| Sales/Maturities of Investments | $21M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$10M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$2.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $298.0K |
| FREE CASH FLOW | -$35M |
| Net Change in Cash | -$34M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $149M |
| Short-Term Investments | $49M |
| Net Receivables | $50M |
| Inventory | $33M |
| Other Current Assets | $23M |
| TOTAL CURRENT ASSETS | $304M |
| PP&E (Net) | $177M |
| Goodwill | $82M |
| Intangible Assets | $13M |
| Long-Term Investments | $54M |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $334M |
| TOTAL ASSETS | $638M |
| Account Payables | $12M |
| Short-Term Debt | $12M |
| Deferred Revenue | $9M |
| Other Current Liabilities | $24M |
| TOTAL CURRENT LIABILITIES | $80M |
| Long-Term Debt | $86M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$70M |
| TOTAL NON-CURRENT LIABILITIES | $102M |
| TOTAL LIABILITIES | $182M |
| Common Stock | $0 |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$571.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $456M |
| Minority Interest | $0 |
| TOTAL EQUITY | $456M |
| TOTAL LIABILITIES & EQUITY | $638M |
| Total Debt | $184M |
| Net Debt | $35M |
