| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $116M | $113M | $97M | 2.3% | 19.2% |
| Op. Income | $7M | $13M | $3M | -42.7% | 169.0% |
| Gross Margin | 60.1% | 65.6% | 63.2% | -5.6pp | -3.1pp |
| Net Margin | 2.1% | 5.7% | -16.9% | -3.6pp | 19.0pp |
| EPS (Diluted) | $0.05 | $0.13 | $-0.39 | -62.4% | 112.5% |
| Free Cash Flow | -$8M | $16M | $9M | -150.0% | -191.2% |
| Item | Amount |
|---|---|
| REVENUE | $116M |
| Cost of Revenue | $46M |
| GROSS PROFIT | $70M |
| R&D Expenses | $9M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $53M |
| Other Expenses | $0 |
| Operating Expenses | $62M |
| Cost & Expenses | $109M |
| OPERATING INCOME | $7M |
| Interest Income | $311.0K |
| Interest Expense | $6M |
| Other Income/Expenses | -$643.0K |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $6M |
| EBIT | $7M |
| EBITDA | $13M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $116M |
| Cost of Revenue | $46M |
| GROSS PROFIT | $70M |
| R&D Expenses | $9M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $53M |
| Other Expenses | $0 |
| Operating Expenses | $62M |
| Cost & Expenses | $109M |
| OPERATING INCOME | $7M |
| Interest Income | $311.0K |
| Interest Expense | $6M |
| Other Income/Expenses | -$643.0K |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $6M |
| EBIT | $7M |
| EBITDA | $13M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $8M |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | $20M |
| Capital Expenditure | -$28M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$3M |
| NET CASH FROM INVESTING | -$31M |
| Net Debt Issuance | -$858.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$173.0K |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$8M |
| Net Change in Cash | -$9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $65M |
| Short-Term Investments | $0 |
| Net Receivables | $104M |
| Inventory | $0 |
| Other Current Assets | $135M |
| TOTAL CURRENT ASSETS | $304M |
| PP&E (Net) | $0 |
| Goodwill | $254M |
| Intangible Assets | $156M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $171M |
| TOTAL NON-CURRENT ASSETS | $581M |
| TOTAL ASSETS | $885M |
| Account Payables | $16M |
| Short-Term Debt | $5M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $50M |
| TOTAL CURRENT LIABILITIES | $102M |
| Long-Term Debt | $250M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $24M |
| Other Non-Current Liabilities | $24M |
| TOTAL NON-CURRENT LIABILITIES | $335M |
| TOTAL LIABILITIES | $437M |
| Common Stock | $493.0K |
| Additional Paid-In Capital | $517M |
| Retained Earnings | -$51M |
| Treasury Stock | -$15M |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $448M |
| Minority Interest | $0 |
| TOTAL EQUITY | $448M |
| TOTAL LIABILITIES & EQUITY | $885M |
| Total Debt | $292M |
| Net Debt | $227M |
