| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4M | $3M | -$34M | 35.7% | 112.8% |
| Op. Income | -$7M | -$4M | -$14M | -81.3% | 55.1% |
| Gross Margin | 79.4% | 49.3% | 11.6% | 30.1pp | 67.8pp |
| Net Margin | -161.5% | -121.2% | 46.9% | -40.2pp | -208.4pp |
| EPS (Diluted) | $-0.25 | $-2.87 | $-15.33 | 91.3% | 98.4% |
| Free Cash Flow | -$4M | -$809.3K | $2M | -453.0% | -282.7% |
| Item | Amount |
|---|---|
| REVENUE | $4M |
| Cost of Revenue | $884.1K |
| GROSS PROFIT | $3M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $8M |
| SG&A Expenses | $10M |
| Other Expenses | -$69.5K |
| Operating Expenses | $10M |
| Cost & Expenses | $11M |
| OPERATING INCOME | -$7M |
| Interest Income | $0 |
| Interest Expense | $410.1K |
| Other Income/Expenses | -$421.5K |
| INCOME BEFORE TAX | -$7M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$7M |
| D&A | $41.2K |
| EBIT | -$7M |
| EBITDA | -$7M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $41.2K |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$541.7K |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | -$189.8K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$105M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$105M |
| Net Debt Issuance | $19M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $112M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3M |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $1M |
| Other Current Assets | $50M |
| TOTAL CURRENT ASSETS | $57M |
| PP&E (Net) | $4M |
| Goodwill | $848.9K |
| Intangible Assets | $163.1K |
| Long-Term Investments | $0 |
| Tax Assets | $6M |
| Other Non-Current Assets | $56M |
| TOTAL NON-CURRENT ASSETS | $67M |
| TOTAL ASSETS | $124M |
| Account Payables | $1M |
| Short-Term Debt | $26M |
| Deferred Revenue | $13.2K |
| Other Current Liabilities | $3M |
| TOTAL CURRENT LIABILITIES | $33M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $1M |
| TOTAL LIABILITIES | $34M |
| Common Stock | $383 |
| Additional Paid-In Capital | $151M |
| Retained Earnings | -$61M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $90M |
| Minority Interest | $0 |
| TOTAL EQUITY | $90M |
| TOTAL LIABILITIES & EQUITY | $124M |
| Total Debt | $28M |
| Net Debt | $25M |
