| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $197M | $186M | $151M | 5.9% | 30.4% |
| Op. Income | -$16M | -$13M | -$34M | -21.8% | 52.7% |
| Gross Margin | 69.9% | 69.6% | 68.2% | 0.3pp | 1.7pp |
| Net Margin | -14.5% | -22.2% | -26.3% | 7.6pp | 11.7pp |
| EPS (Diluted) | $-0.19 | $-0.27 | $-0.28 | 29.6% | 32.1% |
| Free Cash Flow | $5M | $3M | -$25M | 42.4% | 119.1% |
| Item | Amount |
|---|---|
| REVENUE | $197M |
| Cost of Revenue | $59M |
| GROSS PROFIT | $137M |
| R&D Expenses | $19M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $124M |
| Other Expenses | $10M |
| Operating Expenses | $153M |
| Cost & Expenses | $212M |
| OPERATING INCOME | -$16M |
| Interest Income | $0 |
| Interest Expense | $13M |
| Other Income/Expenses | -$13M |
| INCOME BEFORE TAX | -$29M |
| Income Tax Expense | $74.0K |
| Net Income from Continuing Ops | -$29M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$29M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$29M |
| D&A | $20M |
| EBIT | -$16M |
| EBITDA | $5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$29M |
| Depreciation & Amortization | $20M |
| Stock-Based Compensation | $16M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $12M |
| Change in Working Capital | -$6M |
| OPERATING CASH FLOW | $14M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$3M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$14M |
| Net Debt Issuance | -$332.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$927.0K |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | $5M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $156M |
| Short-Term Investments | $0 |
| Net Receivables | $97M |
| Inventory | $167M |
| Other Current Assets | $20M |
| TOTAL CURRENT ASSETS | $440M |
| PP&E (Net) | $171M |
| Goodwill | $75M |
| Intangible Assets | $96M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $347M |
| TOTAL ASSETS | $787M |
| Account Payables | $37M |
| Short-Term Debt | $65M |
| Deferred Revenue | $10M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $221M |
| Long-Term Debt | $495M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $35M |
| TOTAL NON-CURRENT LIABILITIES | $555M |
| TOTAL LIABILITIES | $776M |
| Common Stock | $15.0K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$1.4B |
| Treasury Stock | -$25M |
| Accum. Other Comp. Income | -$4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $12M |
| Minority Interest | $0 |
| TOTAL EQUITY | $12M |
| TOTAL LIABILITIES & EQUITY | $787M |
| Total Debt | $591M |
| Net Debt | $435M |
