| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $164M | $147M | $159M | 11.5% | 3.1% |
| Op. Income | $532.0K | -$1M | -$3M | 137.3% | 119.1% |
| Gross Margin | 44.7% | 59.1% | 55.9% | -14.4pp | -11.2pp |
| Net Margin | -8.8% | -3.4% | -5.9% | -5.5pp | -3.0pp |
| EPS (Diluted) | $-1.35 | $-0.46 | $-0.88 | -193.5% | -53.4% |
| Free Cash Flow | -$3M | $317.0K | $3M | -1059.3% | -197.9% |
| Item | Amount |
|---|---|
| REVENUE | $164M |
| Cost of Revenue | $91M |
| GROSS PROFIT | $73M |
| R&D Expenses | $0 |
| Selling & Marketing | $16M |
| General & Administrative | $30M |
| SG&A Expenses | $46M |
| Other Expenses | $27M |
| Operating Expenses | $73M |
| Cost & Expenses | $163M |
| OPERATING INCOME | $532.0K |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | -$13M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$14M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$14M |
| D&A | $4M |
| EBIT | -$3M |
| EBITDA | $1M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$14M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $5M |
| OPERATING CASH FLOW | $2M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$5M |
| Net Debt Issuance | -$1M |
| Common Stock Repurchased | -$1.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$181.0K |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | -$3M |
| Net Change in Cash | -$4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $20M |
| Short-Term Investments | $0 |
| Net Receivables | $11M |
| Inventory | $86M |
| Other Current Assets | $12M |
| TOTAL CURRENT ASSETS | $129M |
| PP&E (Net) | $128M |
| Goodwill | $94M |
| Intangible Assets | $43M |
| Long-Term Investments | $2M |
| Tax Assets | $8.0K |
| Other Non-Current Assets | $790.0K |
| TOTAL NON-CURRENT ASSETS | $268M |
| TOTAL ASSETS | $397M |
| Account Payables | $31M |
| Short-Term Debt | $19M |
| Deferred Revenue | $13M |
| Other Current Liabilities | $41M |
| TOTAL CURRENT LIABILITIES | $105M |
| Long-Term Debt | $105M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $195M |
| TOTAL LIABILITIES | $300M |
| Common Stock | $128.0K |
| Additional Paid-In Capital | $476M |
| Retained Earnings | -$325M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$54M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $98M |
| Minority Interest | $0 |
| TOTAL EQUITY | $98M |
| TOTAL LIABILITIES & EQUITY | $397M |
| Total Debt | $212M |
| Net Debt | $192M |
