| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $65M | — | $315M | — | -79.3% |
| Op. Income | -$360.6K | — | -$3M | — | 87.3% |
| Gross Margin | 0.7% | — | 0.8% | — | -0.1pp |
| Net Margin | -0.7% | — | -0.7% | — | -0.1pp |
| EPS (Diluted) | $-0.02 | — | $-0.07 | — | 75.5% |
| Free Cash Flow | $1M | — | -$4M | — | 128.0% |
| Item | Amount |
|---|---|
| REVENUE | $65M |
| Cost of Revenue | $65M |
| GROSS PROFIT | $471.9K |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $832.5K |
| Other Expenses | $0 |
| Operating Expenses | $832.5K |
| Cost & Expenses | $66M |
| OPERATING INCOME | -$360.6K |
| Interest Income | $8.7K |
| Interest Expense | $119.1K |
| Other Income/Expenses | -$116.4K |
| INCOME BEFORE TAX | -$477.0K |
| Income Tax Expense | -$331 |
| Net Income from Continuing Ops | -$476.7K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$476.7K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$476.7K |
| D&A | $63.6K |
| EBIT | -$360.6K |
| EBITDA | -$297.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$476.7K |
| Depreciation & Amortization | $63.6K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $59.7K |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | $1M |
| Capital Expenditure | -$29 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$26 |
| Net Debt Issuance | $437.9K |
| Common Stock Repurchased | -$492 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $437.4K |
| FREE CASH FLOW | $1M |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $12M |
| Short-Term Investments | $0 |
| Net Receivables | $42M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $75M |
| PP&E (Net) | $587.6K |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $587.6K |
| TOTAL ASSETS | $76M |
| Account Payables | $53M |
| Short-Term Debt | $2M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $60.7K |
| TOTAL CURRENT LIABILITIES | $56M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $70.5K |
| TOTAL LIABILITIES | $56M |
| Common Stock | $2.8K |
| Additional Paid-In Capital | $14M |
| Retained Earnings | $6M |
| Treasury Stock | -$5 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $20M |
| Minority Interest | $0 |
| TOTAL EQUITY | $20M |
| TOTAL LIABILITIES & EQUITY | $76M |
| Total Debt | $2M |
| Net Debt | -$10M |
