| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $53M | $64M | $43M | -17.1% | 22.1% |
| Op. Income | -$19M | -$18M | -$34M | -3.6% | 43.8% |
| Gross Margin | 7.1% | 18.0% | -8.6% | -10.9pp | 15.7pp |
| Net Margin | -67.2% | -217.2% | -145.0% | 150.0pp | 77.8pp |
| EPS (Diluted) | $-0.16 | $-0.66 | $-0.52 | 75.8% | 69.2% |
| Free Cash Flow | -$252M | -$223M | -$2M | -12.7% | -10721.3% |
| Item | Amount |
|---|---|
| REVENUE | $53M |
| Cost of Revenue | $49M |
| GROSS PROFIT | $4M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $23M |
| Other Expenses | $0 |
| Operating Expenses | $23M |
| Cost & Expenses | $72M |
| OPERATING INCOME | -$19M |
| Interest Income | $0 |
| Interest Expense | $9M |
| Other Income/Expenses | -$16M |
| INCOME BEFORE TAX | -$35M |
| Income Tax Expense | $117.0K |
| Net Income from Continuing Ops | -$36M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$36M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$36M |
| D&A | $19M |
| EBIT | -$27M |
| EBITDA | -$8M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$36M |
| Depreciation & Amortization | $19M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $25M |
| Change in Working Capital | -$12M |
| OPERATING CASH FLOW | $6M |
| Capital Expenditure | -$257M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $430.0K |
| NET CASH FROM INVESTING | -$258M |
| Net Debt Issuance | $172M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | $199M |
| FREE CASH FLOW | -$252M |
| Net Change in Cash | -$53M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $69M |
| Short-Term Investments | $0 |
| Net Receivables | $15M |
| Inventory | $0 |
| Other Current Assets | $191M |
| TOTAL CURRENT ASSETS | $274M |
| PP&E (Net) | $1.4B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $42M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $1.7B |
| Account Payables | $171M |
| Short-Term Debt | $10M |
| Deferred Revenue | $21M |
| Other Current Liabilities | $216.0K |
| TOTAL CURRENT LIABILITIES | $394M |
| Long-Term Debt | $679M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $816M |
| TOTAL LIABILITIES | $1.2B |
| Common Stock | $230.0K |
| Additional Paid-In Capital | $914M |
| Retained Earnings | -$429M |
| Treasury Stock | -$31M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $498M |
| Minority Interest | $0 |
| TOTAL EQUITY | $498M |
| TOTAL LIABILITIES & EQUITY | $1.7B |
| Total Debt | $994M |
| Net Debt | $925M |
