Revenue and profitability indicators for QQ4 2024 (USD):
- Revenue: 96,000; YoY: -13.51%; QoQ: +35.21%
- Gross Profit: 31,000; Gross Margin: 32.29%; YoY: -99.53%; QoQ: +210.00%
- Operating Income: -6,034,000; Operating Margin: -62.85%; YoY: +7.79%; QoQ: -9.04%
- Net Income: -5,729,000; Net Margin: -59.68%; YoY: +11.30%; QoQ: -8.24%
- EPS: -1.06; Diluted EPS: -1.06; YoY: +15.20%; QoQ: -4.95%
Liquidity, cash flow and leverage:
- Net cash provided by operating activities: -4,313,000; Free cash flow: -4,323,000
- Cash at end of period: 7,671,000; Cash at beginning: 7,354,000
- Net change in cash: 317,000; Operating cash flow efficiency indicators show ongoing burn versus modest revenue scale
- Total assets: 39,527,000; Total liabilities: 34,112,000; Total stockholders’ equity: 96,000 (negative accumulated deficit of -420,472,000)
- Long-term debt: 29,053,000; Total debt: 29,612,000; Net debt: 22,829,000
- Current ratio: 6.98; Quick ratio: 6.98; Debt-to-equity: 308.46; Debt ratio: 0.749
Runway and balance sheet health:
- Significant cash burn against a modest revenue base, with a sizable accumulated deficit and negative earnings power in the near term
- Financing activities contributed to liquidity (common stock issuance of 91,000 shares and net financing inflows), but dependence on external financing remains high amidst ongoing R&D commitments
- Balance sheet shows a strong asset base largely driven by non-cash items and cash equivalents; however, negative equity and high long-term liabilities imply a fragile equity cushion absent meaningful near-term profitability or licensing milestones