| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5M | $14M | $344.0K | -64.5% | 1380.2% |
| Op. Income | -$7M | $2M | -$11M | -526.9% | 39.1% |
| Gross Margin | 93.7% | 92.3% | -81.7% | 1.4pp | 175.4pp |
| Net Margin | -158.6% | -1.9% | -4709.9% | -156.7pp | 4551.3pp |
| EPS (Diluted) | $-0.64 | $-0.03 | $-2.41 | -2033.3% | 73.4% |
| Free Cash Flow | -$5M | $10M | -$16M | -147.4% | 71.4% |
| Item | Amount |
|---|---|
| REVENUE | $5M |
| Cost of Revenue | $320.0K |
| GROSS PROFIT | $5M |
| R&D Expenses | $3M |
| Selling & Marketing | -$300.0K |
| General & Administrative | $0 |
| SG&A Expenses | $8M |
| Other Expenses | $1M |
| Operating Expenses | $12M |
| Cost & Expenses | $12M |
| OPERATING INCOME | -$7M |
| Interest Income | $205.0K |
| Interest Expense | $1M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | -$8M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$8M |
| D&A | $190.0K |
| EBIT | -$9M |
| EBITDA | -$7M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$8M |
| Depreciation & Amortization | $174.0K |
| Stock-Based Compensation | $686.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $615.0K |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | -$36M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$420.0K |
| NET CASH FROM FINANCING | $14M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | $9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $30M |
| Short-Term Investments | $0 |
| Net Receivables | $5M |
| Inventory | $2M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $43M |
| PP&E (Net) | $2M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $5M |
| TOTAL ASSETS | $47M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $782.0K |
| Other Current Liabilities | $13M |
| TOTAL CURRENT LIABILITIES | $16M |
| Long-Term Debt | $885.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $6M |
| TOTAL LIABILITIES | $22M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $350M |
| Retained Earnings | -$325M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $25M |
| Minority Interest | $0 |
| TOTAL EQUITY | $25M |
| TOTAL LIABILITIES & EQUITY | $47M |
| Total Debt | $2M |
| Net Debt | -$29M |
