This company isn't generating positive cash flow yet, so a cash-flow valuation doesn't hold. Its worth hinges on a turnaround to sustained profits — or, failing that, its asset value — outcomes too binary for a single fair-value number. Publishing one would mean ignoring the losses actively eroding book value, so we hold off and show what each method computed below.
| Method | Value | Role |
|---|---|---|
| Peer Multiples | $0.58 | COMPUTED |
| Book Value Anchor | $0.48 | COMPUTED |
| Cash Floor | $0.17 | COMPUTED |
| NAV Anchor | $0.48 | COMPUTED |
| Revenue Total sales generated from the company's primary business activities over the trailing twelve months. | 96.5M |
| Gross Profit Revenue minus cost of goods sold. What remains before operating expenses — reflects pricing power and production efficiency. | 28.7M |
| Operating Income Profit from core business operations after all operating expenses (EBIT). Excludes interest and taxes. | -51.2M |
| Net Income Bottom-line profit after all expenses, interest, and taxes are deducted from revenue. | -50.4M |
| Free Cash Flow Operating cash flow minus capital expenditures. The actual cash the business generates after maintaining its assets — the truest measure of profitability. | -12.8M |
| EBITDA Earnings before interest, taxes, depreciation & amortization. A proxy for operating cash earnings that strips out accounting and financing differences. | -46.8M |
| Total Debt Combined short-term and long-term interest-bearing debt obligations. Compare against cash and earnings to gauge leverage risk. | $265,000 |
| Cash & Equivalents Highly liquid assets on hand — cash, money market funds, and short-term securities. The company's immediate financial cushion. | 34.0M |
| Market Cap | 84.9M |
| Enterprise Value | 55.4M |
| EV / Revenue | 0.6x |
| EV / EBITDA | -1.2x |
| P/E (TTM) | -1.7x |
| Forward P/E | — |
| PEG | — |
| P/FCF | -6.6x |
| FCF Yield | -15.1% |
| Gross Margin Gross profit as a % of revenue. Measures how efficiently the company produces its goods or services — higher is better. | 29.7% |
| EBITDA Margin EBITDA as a % of revenue. Shows core operating profitability before accounting adjustments — useful for comparing across industries. | -48.5% |
| Net Margin Net income as a % of revenue. The ultimate measure of overall profitability after every expense, interest payment, and tax is accounted for. | -52.2% |
| FCF Margin Free cash flow as a % of revenue. Shows how much of each dollar of revenue converts into real, spendable cash. | -13.3% |
| Revenue Growth (YoY) Year-over-year change in total revenue. Measures business momentum — sustained growth above 15% is typically considered strong. | -7.9% |
| Net Income Growth (YoY) Year-over-year change in net income. Shows whether profits are growing faster or slower than revenue — a key indicator of improving or deteriorating quality. | 76.1% |
| Piotroski F-Score Score from 0–9 measuring financial strength across profitability, leverage, and efficiency signals. 8–9 = strong, 0–2 = distressed. | 4 / 9 |
| Altman Z-Score Bankruptcy risk model. Above 2.99 = safe zone, 1.81–2.99 = grey zone, below 1.81 = distress signal. Most useful for manufacturing companies. | 0.44 |
| Metric | Q2 '26 | Q1 '26 | Q '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '25 | Q2 '25 | Q1 '24 | Q4 '24 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Total quarterly sales from primary business operations. | 21.7M | 20.8M | 27.0M | 27.0M | 28.7M | 20.7M | 30.2M | 25.2M | 33.3M | 37.6M | 42.7M | 43.4M |
| Gross Profit Quarterly revenue minus cost of goods sold. | 8.4M | 6.6M | 4.3M | 9.3M | 4.8M | 7.1M | 4.4M | 9.1M | 10.7M | 13.4M | 10.6M | 12.8M |
| Operating Income Quarterly profit from core operations before interest and taxes (EBIT). | -6.2M | -11.8M | -32.7M | -$451,000 | -29.6M | -21.4M | -76.8M | -88.2M | -20.6M | -17.5M | -17.1M | -110.6M |
| Net Income Quarterly bottom-line profit after all expenses and taxes. | -6.0M | -11.6M | -32.7M | -$86,000 | -29.3M | -21.0M | -73.5M | -87.4M | -20.1M | -17.2M | -19.7M | -112.7M |
| FCF Quarterly free cash flow: operating cash minus capital expenditures. | -3.4M | -$961,000 | -4.8M | -3.7M | -18.0M | -14.1M | -12.5M | -10.1M | -10.0M | -24.3M | -20.7M | -13.7M |