| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $1M | $428.0K | 139.0% | 610.3% |
| Op. Income | -$1M | -$2M | -$4M | 34.6% | 59.2% |
| Gross Margin | 36.6% | 35.4% | 48.8% | 1.2pp | -12.2pp |
| Net Margin | -43.6% | -166.1% | -964.7% | 122.5pp | 921.1pp |
| EPS (Diluted) | $-0.61 | $-1.31 | $-9.00 | 53.4% | 93.2% |
| Free Cash Flow | -$5M | -$2M | -$3M | -99.0% | -83.4% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $1M |
| R&D Expenses | $937.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $3M |
| Cost & Expenses | $4M |
| OPERATING INCOME | -$1M |
| Interest Income | $107.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $107.0K |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1M |
| D&A | $28.0K |
| EBIT | -$1M |
| EBITDA | -$1M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$1M |
| Depreciation & Amortization | $28.0K |
| Stock-Based Compensation | $33.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$20.0K |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | -$45.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$45.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$115.0K |
| NET CASH FROM FINANCING | -$50.0K |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $10M |
| Short-Term Investments | $0 |
| Net Receivables | $3M |
| Inventory | $2M |
| Other Current Assets | $422.0K |
| TOTAL CURRENT ASSETS | $15M |
| PP&E (Net) | $1M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $252.0K |
| TOTAL NON-CURRENT ASSETS | $1M |
| TOTAL ASSETS | $17M |
| Account Payables | $954.0K |
| Short-Term Debt | $579.0K |
| Deferred Revenue | $27.0K |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $4M |
| Long-Term Debt | $589.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $589.0K |
| TOTAL LIABILITIES | $4M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $423M |
| Retained Earnings | -$410M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $12M |
| Minority Interest | $0 |
| TOTAL EQUITY | $12M |
| TOTAL LIABILITIES & EQUITY | $17M |
| Total Debt | $1M |
| Net Debt | -$9M |
