| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $14M | — | $9M | — | 57.9% |
| Op. Income | $2M | — | -$7M | — | 130.1% |
| Gross Margin | 93.6% | — | 90.1% | — | 3.5pp |
| Net Margin | 44.4% | — | -45.5% | — | 89.9pp |
| EPS (Diluted) | $0.26 | — | $-0.45 | — | 157.8% |
| Free Cash Flow | -$6M | — | -$3M | — | -89.3% |
| Item | Amount |
|---|---|
| REVENUE | $14M |
| Cost of Revenue | $884.0K |
| GROSS PROFIT | $13M |
| R&D Expenses | $281.0K |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $11M |
| Cost & Expenses | $12M |
| OPERATING INCOME | $2M |
| Interest Income | $833.0K |
| Interest Expense | $3M |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | $54.0K |
| Net Income from Continuing Ops | $6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $5M |
| D&A | $887.0K |
| EBIT | $2M |
| EBITDA | -$23M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $14M |
| Cost of Revenue | $884.0K |
| GROSS PROFIT | $13M |
| R&D Expenses | $281.0K |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $11M |
| Cost & Expenses | $12M |
| OPERATING INCOME | $2M |
| Interest Income | $833.0K |
| Interest Expense | $3M |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | $54.0K |
| Net Income from Continuing Ops | $6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $5M |
| D&A | $887.0K |
| EBIT | $2M |
| EBITDA | -$23M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $6M |
| Depreciation & Amortization | $887.0K |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $103.0K |
| Other Non-Cash Items | -$9M |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | -$6M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | -$93.0K |
| Purchases of Investments | $99.0K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $19M |
| NET CASH FROM INVESTING | $19M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$14M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$967.0K |
| NET CASH FROM FINANCING | -$11M |
| FREE CASH FLOW | -$6M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $83M |
| Short-Term Investments | $382.0K |
| Net Receivables | $5M |
| Inventory | $0 |
| Other Current Assets | $29M |
| TOTAL CURRENT ASSETS | $117M |
| PP&E (Net) | $277.0K |
| Goodwill | $0 |
| Intangible Assets | $45M |
| Long-Term Investments | $106M |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $155M |
| TOTAL ASSETS | $273M |
| Account Payables | $2M |
| Short-Term Debt | $15M |
| Deferred Revenue | $1M |
| Other Current Liabilities | $15M |
| TOTAL CURRENT LIABILITIES | $35M |
| Long-Term Debt | $96M |
| Deferred Revenue NC | $3M |
| Deferred Tax Liabilities | $103.0K |
| Other Non-Current Liabilities | $14M |
| TOTAL NON-CURRENT LIABILITIES | $134M |
| TOTAL LIABILITIES | $169M |
| Common Stock | $89.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $53.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $104M |
| Minority Interest | $0 |
| TOTAL EQUITY | $104M |
| TOTAL LIABILITIES & EQUITY | $273M |
| Total Debt | $132M |
| Net Debt | $49M |
