Encision Inc. reported QQ4 2024 revenue of $1.525 million, down 15.6% year-over-year from $1.806 million in the prior-year quarter and down 3.6% quarter-over-quarter. The company posted a gross margin of 42.4% but still delivered a notable operating loss of $0.402 million and a net loss of $0.409 million, driven by elevated operating expenses and the fixed-cost structure that remains disproportionate to the modest top-line scale. EBITDA was negative at $0.309 million, with an EBITDAR of -20.2%. Diluted EPS stood at -$0.0347. On the balance sheet, Encision carries $1.333 million of total debt against cash of $0.0425 million, yielding a net debt position of approximately $1.29 million. Liquidity remains tight, as reflected by a current ratio of 1.99, a quick ratio of 0.84, and a cash ratio of 0.0348. Free cash flow for the period was negative at -$0.0156 million, and operating cash flow totaled -$0.0100 million, underscoring ongoing cash burn at the scale of the business. Management commentary is not captured in the provided transcript, limiting the ability to extract direct guidance or forward-looking qualifiers from an earnings call. The result paints a picture of a small-cap medical devices company navigating a low-volume year with persistent cost discipline needs and revenue growth constraints, while potentially laying the groundwork for longer-term improvement through product adoption and operating leverage once revenue scales meaningfully.