| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $19M | $17M | $17M | 11.9% | 16.4% |
| Op. Income | -$9M | -$8M | -$8M | -17.2% | -12.0% |
| Gross Margin | 60.5% | 63.0% | 60.4% | -2.5pp | 0.1pp |
| Net Margin | -45.2% | -42.2% | -43.9% | -3.0pp | -1.3pp |
| EPS (Diluted) | $-0.09 | $-0.07 | $-0.07 | -18.7% | -24.9% |
| Free Cash Flow | -$547.0K | -$5M | -$1M | 88.9% | 54.8% |
| Item | Amount |
|---|---|
| REVENUE | $19M |
| Cost of Revenue | $8M |
| GROSS PROFIT | $12M |
| R&D Expenses | $11M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $21M |
| Cost & Expenses | $29M |
| OPERATING INCOME | -$9M |
| Interest Income | $431.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $683.0K |
| INCOME BEFORE TAX | -$9M |
| Income Tax Expense | $30.0K |
| 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 | $709.0K |
| EBIT | -$9M |
| EBITDA | -$8M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$9M |
| Depreciation & Amortization | $709.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $6M |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$295.0K |
| Capital Expenditure | -$252.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$28M |
| Sales/Maturities of Investments | $24M |
| Other Investing Activities | -$5.0K |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$597.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$154.0K |
| FREE CASH FLOW | -$547.0K |
| Net Change in Cash | -$4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $29M |
| Short-Term Investments | $65M |
| Net Receivables | $10M |
| Inventory | $10M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $119M |
| PP&E (Net) | $10M |
| Goodwill | $6M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $632.0K |
| TOTAL NON-CURRENT ASSETS | $16M |
| TOTAL ASSETS | $135M |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $23M |
| TOTAL CURRENT LIABILITIES | $23M |
| Long-Term Debt | $7M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$7M |
| TOTAL NON-CURRENT LIABILITIES | $7M |
| TOTAL LIABILITIES | $30M |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $105M |
| TOTAL STOCKHOLDERS' EQUITY | $105M |
| Minority Interest | $0 |
| TOTAL EQUITY | $105M |
| TOTAL LIABILITIES & EQUITY | $135M |
| Total Debt | $13M |
| Net Debt | -$16M |
