Revenue: $37.34M in Q4 2023; YoY +14.45%, QoQ +24.42%. Gross Profit: $10.56M; Gross Margin 28.29%; YoY Gross Profit +59.44%, QoQ +72.81%. Operating Income: $(3.35)M; Operating Margin −8.98%; YoY Margin deterioration (−687.52%), QoQ improvement +40.98%. Net Income: $(3.42)M; Net Margin −9.16%; YoY Net Income decline (−8,279.58%), QoQ +42.50%. EPS: −$0.0606; YoY −7,475.00%, QoQ +44.91%. Cash & Liquidity: Cash $35.07M; Net debt negative $(31.67)M; Current ratio 1.19; Quick ratio 1.12; Cash flow: Operating cash flow $(1.42)M; Free cash flow $(2.38)M; Capex $(0.96)M. Balance Sheet: Total assets $122.64M; Total liabilities $88.18M; Total stockholders’ equity $34.46M; Accounts receivable unusually high at $60.22M, contributing to a Days Sales Outstanding profile of ~145 days; AR and working capital management warrant close monitoring. Valuation metrics reflect a negative earnings period with a price-to-sales multiple of ~11.36 and price-to-book ~12.31, signaling a high-risk, growth-oriented multiple given current profitability.