| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $100M | $100M | $91M | 0.1% | 9.6% |
| Op. Income | $4M | $19M | $6M | -80.1% | -34.7% |
| Gross Margin | 25.8% | 39.2% | 38.4% | -13.4pp | -12.6pp |
| Net Margin | -49.9% | -5.3% | -11.3% | -44.6pp | -38.6pp |
| EPS (Diluted) | $-16.07 | $-1.71 | $-7.34 | -839.8% | -118.9% |
| Free Cash Flow | $6M | $22M | $11M | -71.4% | -41.6% |
| Item | Amount |
|---|---|
| REVENUE | $100M |
| Cost of Revenue | $74M |
| GROSS PROFIT | $26M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $22M |
| Other Expenses | $0 |
| Operating Expenses | $22M |
| Cost & Expenses | $96M |
| OPERATING INCOME | $4M |
| Interest Income | $0 |
| Interest Expense | -$412.0K |
| Other Income/Expenses | -$68M |
| INCOME BEFORE TAX | -$64M |
| Income Tax Expense | -$14M |
| NET INCOME | -$50M |
| D&A | $11M |
| EBIT | $4M |
| EBITDA | $14M |
| EPS | -$16 |
| EPS Diluted | -$16 |
| Item | Amount |
|---|---|
| Net Income | -$50M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$10M |
| Other Non-Cash Items | $63M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $18M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | $32M |
| Purchases of Investments | -$9M |
| Sales/Maturities of Investments | $33M |
| Other Investing Activities | -$74M |
| NET CASH FROM INVESTING | -$29M |
| Net Debt Issuance | -$189M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $197M |
| NET CASH FROM FINANCING | $8M |
| FREE CASH FLOW | $6M |
| Net Change in Cash | -$4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $269M |
| Short-Term Investments | $69M |
| Net Receivables | $23M |
| Inventory | $4M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $375M |
| PP&E (Net) | $407M |
| Goodwill | $53M |
| Intangible Assets | $24M |
| Long-Term Investments | $155M |
| Tax Assets | $0 |
| Other Non-Current Assets | $37M |
| TOTAL NON-CURRENT ASSETS | $674M |
| TOTAL ASSETS | $1.0B |
| Account Payables | $35M |
| Short-Term Debt | $47M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $63M |
| TOTAL CURRENT LIABILITIES | $156M |
| Long-Term Debt | $214M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $42M |
| Other Non-Current Liabilities | $16M |
| TOTAL NON-CURRENT LIABILITIES | $370M |
| TOTAL LIABILITIES | $526M |
| Common Stock | $1M |
| Additional Paid-In Capital | $386M |
| Retained Earnings | $590M |
| Treasury Stock | -$452M |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $523M |
| Minority Interest | $0 |
| TOTAL EQUITY | $523M |
| TOTAL LIABILITIES & EQUITY | $1.0B |
| Total Debt | $359M |
| Net Debt | $90M |
