| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $45M | $41M | $41M | 10.2% | 9.1% |
| Op. Income | $1M | $1M | $1M | 4.3% | -5.4% |
| Gross Margin | 6.1% | 7.3% | 7.9% | -1.2pp | -1.8pp |
| Net Margin | 3.9% | -1.6% | -2.8% | 5.5pp | 6.7pp |
| EPS (Diluted) | $0.08 | $-0.04 | $-0.07 | 303.0% | 215.4% |
| Free Cash Flow | $884.0K | $63.0K | -$298.0K | 1303.2% | 396.6% |
| Item | Amount |
|---|---|
| REVENUE | $45M |
| Cost of Revenue | $42M |
| GROSS PROFIT | $3M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $44M |
| OPERATING INCOME | $1M |
| Interest Income | $0 |
| Interest Expense | $534.0K |
| Other Income/Expenses | $816.0K |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $190.0K |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1M |
| D&A | $167.0K |
| EBIT | $2M |
| EBITDA | $3M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $45M |
| Cost of Revenue | $42M |
| GROSS PROFIT | $3M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $44M |
| OPERATING INCOME | $1M |
| Interest Income | $0 |
| Interest Expense | $534.0K |
| Other Income/Expenses | $816.0K |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $190.0K |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1M |
| D&A | $167.0K |
| EBIT | $2M |
| EBITDA | $3M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | $167.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$78.0K |
| Other Non-Cash Items | $396.0K |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | $931.0K |
| Capital Expenditure | -$47.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$47.0K |
| Net Debt Issuance | -$508.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$715.0K |
| FREE CASH FLOW | $884.0K |
| Net Change in Cash | $169.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $8M |
| Short-Term Investments | $0 |
| Net Receivables | $12M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $21M |
| PP&E (Net) | $4M |
| Goodwill | $40M |
| Intangible Assets | $758.0K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $47M |
| TOTAL ASSETS | $68M |
| Account Payables | $22M |
| Short-Term Debt | $22M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $200.0K |
| TOTAL CURRENT LIABILITIES | $44M |
| Long-Term Debt | $5M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $5M |
| TOTAL LIABILITIES | $49M |
| Common Stock | $0 |
| Additional Paid-In Capital | $22M |
| Retained Earnings | -$21M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$154.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $18M |
| Minority Interest | $0 |
| TOTAL EQUITY | $18M |
| TOTAL LIABILITIES & EQUITY | $68M |
| Total Debt | $27M |
| Net Debt | $19M |
