| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $203M | $193M | $167M | 5.5% | 21.9% |
| Op. Income | -$3M | -$13M | -$11M | 79.2% | 74.2% |
| Gross Margin | 44.9% | 41.4% | 44.8% | 3.5pp | 0.1pp |
| Net Margin | -6.5% | -7.7% | -10.6% | 1.2pp | 4.1pp |
| EPS (Diluted) | $-0.07 | $-0.08 | $-0.09 | 10.8% | 21.6% |
| Free Cash Flow | $51M | $15M | $23M | 241.0% | 119.7% |
| Item | Amount |
|---|---|
| REVENUE | $203M |
| Cost of Revenue | $112M |
| GROSS PROFIT | $91M |
| R&D Expenses | $47M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $48M |
| Other Expenses | $0 |
| Operating Expenses | $94M |
| Cost & Expenses | $206M |
| OPERATING INCOME | -$3M |
| Interest Income | $234.0K |
| Interest Expense | $6M |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | -$10M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$13M |
| D&A | $16M |
| EBIT | -$4M |
| EBITDA | $13M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$13M |
| Depreciation & Amortization | $16M |
| Stock-Based Compensation | $11M |
| Deferred Income Tax | -$5M |
| Other Non-Cash Items | $4M |
| Change in Working Capital | $49M |
| OPERATING CASH FLOW | $62M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$11M |
| Net Debt Issuance | -$35M |
| Common Stock Repurchased | -$9M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$44M |
| FREE CASH FLOW | $51M |
| Net Change in Cash | $8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $129M |
| Short-Term Investments | $0 |
| Net Receivables | $89M |
| Inventory | $174M |
| Other Current Assets | $54M |
| TOTAL CURRENT ASSETS | $447M |
| PP&E (Net) | $326M |
| Goodwill | $203M |
| Intangible Assets | $256M |
| Long-Term Investments | $31M |
| Tax Assets | $74M |
| Other Non-Current Assets | $52M |
| TOTAL NON-CURRENT ASSETS | $942M |
| TOTAL ASSETS | $1.4B |
| Account Payables | $46M |
| Short-Term Debt | $2M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $121M |
| Long-Term Debt | $311M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $17M |
| TOTAL NON-CURRENT LIABILITIES | $344M |
| TOTAL LIABILITIES | $465M |
| Common Stock | $2M |
| Additional Paid-In Capital | $1.0B |
| Retained Earnings | -$67M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$26M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $923M |
| Minority Interest | $2M |
| TOTAL EQUITY | $924M |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $335M |
| Net Debt | $206M |
