| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $240M | $211M | $209M | 13.5% | 15.1% |
| Op. Income | $35M | $23M | $9M | 53.8% | 299.5% |
| Gross Margin | 33.3% | 30.5% | 24.0% | 2.8pp | 9.3pp |
| Net Margin | 12.3% | -5.2% | -1.4% | 17.6pp | 13.7pp |
| EPS (Diluted) | $0.78 | $-0.31 | $-0.08 | 351.6% | 1075.0% |
| Free Cash Flow | $16M | $22M | $23M | -27.3% | -32.0% |
| Item | Amount |
|---|---|
| REVENUE | $240M |
| Cost of Revenue | $160M |
| GROSS PROFIT | $80M |
| R&D Expenses | $11M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $34M |
| Other Expenses | $0 |
| Operating Expenses | $45M |
| Cost & Expenses | $205M |
| OPERATING INCOME | $35M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $32M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $30M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $30M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $30M |
| D&A | $6M |
| EBIT | $36M |
| EBITDA | $41M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $240M |
| Cost of Revenue | $160M |
| GROSS PROFIT | $80M |
| R&D Expenses | $11M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $34M |
| Other Expenses | $0 |
| Operating Expenses | $45M |
| Cost & Expenses | $205M |
| OPERATING INCOME | $35M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $32M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $30M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $30M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $30M |
| D&A | $6M |
| EBIT | $36M |
| EBITDA | $41M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $30M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | -$237.0K |
| Other Non-Cash Items | $7M |
| Change in Working Capital | -$16M |
| OPERATING CASH FLOW | $28M |
| Capital Expenditure | -$12M |
| Acquisitions (Net) | -$17M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$29M |
| Net Debt Issuance | -$10M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $11M |
| NET CASH FROM FINANCING | $212.0K |
| FREE CASH FLOW | $16M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $18M |
| Short-Term Investments | $0 |
| Net Receivables | $205M |
| Inventory | $197M |
| Other Current Assets | $18M |
| TOTAL CURRENT ASSETS | $438M |
| PP&E (Net) | $139M |
| Goodwill | $63M |
| Intangible Assets | $55M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $11M |
| TOTAL NON-CURRENT ASSETS | $269M |
| TOTAL ASSETS | $707M |
| Account Payables | $41M |
| Short-Term Debt | $6M |
| Deferred Revenue | $26M |
| Other Current Liabilities | $68M |
| TOTAL CURRENT LIABILITIES | $141M |
| Long-Term Debt | $373M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $53M |
| TOTAL NON-CURRENT LIABILITIES | $425M |
| TOTAL LIABILITIES | $567M |
| Common Stock | $385.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$4M |
| Other Equity | $144M |
| TOTAL STOCKHOLDERS' EQUITY | $140M |
| Minority Interest | $0 |
| TOTAL EQUITY | $140M |
| TOTAL LIABILITIES & EQUITY | $707M |
| Total Debt | $378M |
| Net Debt | $360M |
