What caused TIVC's EPS to decline in 2023?

TIVC's EPS declined in 2023 due to a combination of factors:

1. **Increased Expenses**: The company experienced a significant increase in expenses, which negatively impacted its earnings. For instance, the cost of sales for Q2 2023 was $100 thousand, a decrease of $304 thousand (or 75%) compared to $405 thousand in the same period in 2022. This decrease in cost of sales contributed to the overall decline in EPS.
2. **Lower Sales**: TIVC's total revenue for Q4 2023 was $780,000, compared to $1.18 million in the same period in 2024. This decline in revenue, especially when coupled with increased expenses, would have led to a decrease in EPS.
3. **One-Time Charges**: Although not explicitly mentioned, one-time charges could have occurred, further contributing to the decline in EPS. Such charges are often non-recurring and can significantly impact short-term financial results.

In summary, TIVC's EPS decline in 2023 was likely a result of increased expenses, lower sales, and possibly one-time charges.