In Q4'25, SOUN's operation income reached $27.7M USD, marking a positive turnaround from the previous quarter's loss of $108.7M USD and representing the second profitable period in the dataset after Q1'25's $131.0M USD gain. Over the period from Q1'23 to Q4'25, operation income showed significant volatility, starting with consistent quarterly losses around -$13M to -$25M USD in 2023 before worsening dramatically in 2024 with a peak deficit of -$256.9M USD in Q4'24, driven by a -22.5% YoY decline. The trend shifted positively in Q1'25 with a 5.6x YoY improvement, followed by renewed losses in Q2'25 (-$73.3M USD, -3.3x YoY) and Q3'25 (-$108.7M USD, -2.5x YoY), before recovering to profitability in Q4'25 with a 1.1x YoY gain, highlighting an overall path toward operational improvement amid fluctuating performance.