| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | -$24.0K | $0 | $17.0K | — | -241.2% |
| Op. Income | -$8M | -$11M | -$5M | 26.3% | -61.2% |
| Gross Margin | 50.0% | — | -29.4% | — | 79.4pp |
| Net Margin | 29741.7% | — | -21376.5% | — | 51118.1pp |
| EPS (Diluted) | $-0.58 | $-1.08 | $-0.63 | 46.3% | 7.9% |
| Free Cash Flow | -$9M | -$5M | -$5M | -77.2% | -91.7% |
| Item | Amount |
|---|---|
| REVENUE | -$24.0K |
| Cost of Revenue | $12.0K |
| GROSS PROFIT | -$12.0K |
| R&D Expenses | $4M |
| Selling & Marketing | $0 |
| General & Administrative | $4M |
| SG&A Expenses | $4M |
| Other Expenses | $0 |
| Operating Expenses | $8M |
| Cost & Expenses | $8M |
| OPERATING INCOME | -$8M |
| Interest Income | $865.0K |
| Interest Expense | $1.0K |
| Other Income/Expenses | $747.0K |
| 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 | $2.0K |
| EBIT | -$8M |
| EBITDA | -$8M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $2.0K |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $123.0K |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$9M |
| 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 | -$328.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$321.0K |
| FREE CASH FLOW | -$9M |
| Net Change in Cash | -$10M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $89M |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $961.0K |
| TOTAL CURRENT ASSETS | $90M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $6.0K |
| TOTAL NON-CURRENT ASSETS | $6.0K |
| TOTAL ASSETS | $90M |
| Account Payables | $1M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $7M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $19M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $152.0K |
| TOTAL NON-CURRENT LIABILITIES | $19M |
| TOTAL LIABILITIES | $25M |
| Common Stock | $39.0K |
| Additional Paid-In Capital | $391M |
| Retained Earnings | -$327M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $64M |
| Minority Interest | $0 |
| TOTAL EQUITY | $64M |
| TOTAL LIABILITIES & EQUITY | $90M |
| Total Debt | $0 |
| Net Debt | -$89M |
