| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $17M | $29M | $22M | -43.0% | -26.0% |
| Op. Income | -$19M | -$16M | -$20M | -22.7% | 1.5% |
| Gross Margin | -53.8% | 45.3% | 70.2% | -99.1pp | -124.0pp |
| Net Margin | -222.9% | -92.3% | 141.7% | -130.6pp | -364.6pp |
| EPS (Diluted) | $-0.41 | $-0.41 | $-0.91 | 0.0% | 54.9% |
| Free Cash Flow | -$19M | -$17M | -$1M | -9.5% | -1180.1% |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $26M |
| GROSS PROFIT | -$9M |
| R&D Expenses | $5M |
| Selling & Marketing | $11M |
| General & Administrative | $14M |
| SG&A Expenses | $25M |
| Other Expenses | -$19M |
| Operating Expenses | $10M |
| Cost & Expenses | $36M |
| OPERATING INCOME | -$19M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | -$39M |
| Income Tax Expense | -$503.0K |
| Net Income from Continuing Ops | -$37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$37M |
| D&A | $6M |
| EBIT | -$21M |
| EBITDA | -$16M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$37M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $6M |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | -$17M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | -$74M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$228.0K |
| NET CASH FROM FINANCING | $10M |
| FREE CASH FLOW | -$19M |
| Net Change in Cash | -$11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $27M |
| Short-Term Investments | $0 |
| Net Receivables | $37M |
| Inventory | $0 |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $74M |
| PP&E (Net) | $10M |
| Goodwill | $54M |
| Intangible Assets | $39M |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $108M |
| TOTAL ASSETS | $182M |
| Account Payables | $16M |
| Short-Term Debt | $45M |
| Deferred Revenue | $12M |
| Other Current Liabilities | $25M |
| TOTAL CURRENT LIABILITIES | $104M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $4M |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $10M |
| TOTAL LIABILITIES | $114M |
| Common Stock | $93.0K |
| Additional Paid-In Capital | $646M |
| Retained Earnings | -$579M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $68M |
| Minority Interest | $0 |
| TOTAL EQUITY | $68M |
| TOTAL LIABILITIES & EQUITY | $182M |
| Total Debt | $47M |
| Net Debt | $20M |
