| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $57M | $56M | $53M | 1.7% | 7.6% |
| Op. Income | -$40M | -$31M | -$10M | -29.0% | -292.6% |
| Gross Margin | 93.3% | 94.7% | 95.1% | -1.4pp | -1.8pp |
| Net Margin | -246.8% | -40.1% | -9.2% | -206.6pp | -237.5pp |
| EPS (Diluted) | $-2.39 | $-0.38 | $-0.08 | -528.9% | -2728.4% |
| Free Cash Flow | -$30M | -$32M | -$2M | 7.1% | -1353.4% |
| Item | Amount |
|---|---|
| REVENUE | $57M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $53M |
| R&D Expenses | $29M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $63M |
| Other Expenses | $2M |
| Operating Expenses | $94M |
| Cost & Expenses | $98M |
| OPERATING INCOME | -$40M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$38M |
| Income Tax Expense | $103M |
| Net Income from Continuing Ops | -$141M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$141M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$141M |
| D&A | $6M |
| EBIT | -$40M |
| EBITDA | -$34M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$141M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $103M |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | -$29M |
| Capital Expenditure | -$102.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$2M |
| Sales/Maturities of Investments | $47M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $45M |
| Net Debt Issuance | -$640.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$640.0K |
| FREE CASH FLOW | -$30M |
| Net Change in Cash | $15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $85M |
| Short-Term Investments | $179M |
| Net Receivables | $55M |
| Inventory | $2M |
| Other Current Assets | $27M |
| TOTAL CURRENT ASSETS | $347M |
| PP&E (Net) | $14M |
| Goodwill | $0 |
| Intangible Assets | $117M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $11M |
| TOTAL NON-CURRENT ASSETS | $142M |
| TOTAL ASSETS | $489M |
| Account Payables | $5M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $87M |
| TOTAL CURRENT LIABILITIES | $145M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $10M |
| TOTAL NON-CURRENT LIABILITIES | $17M |
| TOTAL LIABILITIES | $162M |
| Common Stock | $59.0K |
| Additional Paid-In Capital | $721M |
| Retained Earnings | -$395M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $629.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $327M |
| Minority Interest | $0 |
| TOTAL EQUITY | $327M |
| TOTAL LIABILITIES & EQUITY | $489M |
| Total Debt | $13M |
| Net Debt | -$72M |
