| Metric | Q3 2026 | Q2 2026 | Q3 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $98M | $107M | $126M | -8.0% | -22.1% |
| Op. Income | -$9M | -$11M | -$12M | 19.7% | 30.1% |
| Gross Margin | 60.4% | 57.9% | 62.7% | 2.5pp | -2.3pp |
| Net Margin | -8.8% | -10.0% | -9.1% | 1.2pp | 0.3pp |
| EPS (Diluted) | $-0.05 | $-0.06 | $-0.07 | 20.0% | 23.7% |
| Free Cash Flow | $2M | -$20M | -$2M | 107.8% | 179.6% |
| Item | Amount |
|---|---|
| REVENUE | $98M |
| Cost of Revenue | $39M |
| GROSS PROFIT | $59M |
| R&D Expenses | $0 |
| Selling & Marketing | $16M |
| General & Administrative | $52M |
| SG&A Expenses | $68M |
| Other Expenses | $0 |
| Operating Expenses | $68M |
| Cost & Expenses | $107M |
| OPERATING INCOME | -$9M |
| Interest Income | $292.0K |
| Interest Expense | $415.0K |
| Other Income/Expenses | -$91.0K |
| INCOME BEFORE TAX | -$9M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$9M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$9M |
| D&A | $2M |
| EBIT | -$8M |
| EBITDA | -$6M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$9M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $2M |
| Capital Expenditure | -$143.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$143.0K |
| Net Debt Issuance | -$43M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$268.0K |
| NET CASH FROM FINANCING | -$43M |
| FREE CASH FLOW | $2M |
| Net Change in Cash | -$42M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $27M |
| Short-Term Investments | $0 |
| Net Receivables | $12M |
| Inventory | $91M |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $138M |
| PP&E (Net) | $44M |
| Goodwill | $0 |
| Intangible Assets | $2M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $51M |
| TOTAL ASSETS | $189M |
| Account Payables | $22M |
| Short-Term Debt | $5M |
| Deferred Revenue | $22M |
| Other Current Liabilities | $24M |
| TOTAL CURRENT LIABILITIES | $74M |
| Long-Term Debt | $33M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$33M |
| TOTAL NON-CURRENT LIABILITIES | $33M |
| TOTAL LIABILITIES | $107M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $514M |
| Retained Earnings | -$406M |
| Treasury Stock | -$27M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $81M |
| Minority Interest | $0 |
| TOTAL EQUITY | $81M |
| TOTAL LIABILITIES & EQUITY | $189M |
| Total Debt | $71M |
| Net Debt | $44M |
