| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $110M | $103M | $108M | 7.0% | 2.2% |
| Op. Income | -$9M | -$9M | -$7M | -0.4% | -33.9% |
| Gross Margin | 11.3% | 11.1% | 11.0% | 0.2pp | 0.2pp |
| Net Margin | -9.8% | -10.4% | -6.5% | 0.6pp | -3.3pp |
| EPS (Diluted) | $-0.20 | $-0.20 | $-0.16 | 0.0% | -25.0% |
| Free Cash Flow | -$1M | -$10M | -$1M | 86.7% | 6.4% |
| Item | Amount |
|---|---|
| REVENUE | $110M |
| Cost of Revenue | $98M |
| GROSS PROFIT | $12M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $20M |
| Other Expenses | $1M |
| Operating Expenses | $21M |
| Cost & Expenses | $119M |
| OPERATING INCOME | -$9M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$11M |
| Income Tax Expense | $9.1K |
| Net Income from Continuing Ops | -$11M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$11M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$11M |
| D&A | $1M |
| EBIT | -$9M |
| EBITDA | -$7M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$11M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$1M |
| Capital Expenditure | -$14.4K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$14.4K |
| Net Debt Issuance | $978.3K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $978.3K |
| FREE CASH FLOW | -$1M |
| Net Change in Cash | -$291.3K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $83.4K |
| Short-Term Investments | $0 |
| Net Receivables | $60M |
| Inventory | $0 |
| Other Current Assets | $12M |
| TOTAL CURRENT ASSETS | $72M |
| PP&E (Net) | $2M |
| Goodwill | $0 |
| Intangible Assets | $28M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $8M |
| TOTAL NON-CURRENT ASSETS | $39M |
| TOTAL ASSETS | $110M |
| Account Payables | $5M |
| Short-Term Debt | $3M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $50M |
| TOTAL CURRENT LIABILITIES | $58M |
| Long-Term Debt | $74M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $74M |
| TOTAL LIABILITIES | $132M |
| Common Stock | $558 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$168M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $146M |
| TOTAL STOCKHOLDERS' EQUITY | -$22M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$22M |
| TOTAL LIABILITIES & EQUITY | $110M |
| Total Debt | $77M |
| Net Debt | $77M |
