| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $355M | $330M | $344M | 7.6% | 3.2% |
| Op. Income | $11M | -$997.0K | -$5M | 1217.7% | 332.6% |
| Gross Margin | 74.5% | 74.3% | 15.4% | 0.2pp | 59.1pp |
| Net Margin | 3.6% | 0.1% | -1.5% | 3.4pp | 5.1pp |
| EPS (Diluted) | $0.60 | $0.02 | $-0.23 | 2798.6% | 360.9% |
| Free Cash Flow | $7M | $4M | $16M | 106.9% | -52.7% |
| Item | Amount |
|---|---|
| REVENUE | $355M |
| Cost of Revenue | $91M |
| GROSS PROFIT | $265M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $25M |
| SG&A Expenses | $25M |
| Other Expenses | $228M |
| Operating Expenses | $253M |
| Cost & Expenses | $344M |
| OPERATING INCOME | $11M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$273.0K |
| INCOME BEFORE TAX | $11M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $13M |
| D&A | $20M |
| EBIT | $12M |
| EBITDA | $32M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $355M |
| Cost of Revenue | $91M |
| GROSS PROFIT | $265M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $25M |
| SG&A Expenses | $25M |
| Other Expenses | $228M |
| Operating Expenses | $253M |
| Cost & Expenses | $344M |
| OPERATING INCOME | $11M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$273.0K |
| INCOME BEFORE TAX | $11M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $13M |
| D&A | $20M |
| EBIT | $12M |
| EBITDA | $32M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $13M |
| Depreciation & Amortization | $21M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $3M |
| Other Non-Cash Items | $5M |
| Change in Working Capital | -$25M |
| OPERATING CASH FLOW | $19M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | $4.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$11M |
| Net Debt Issuance | -$23M |
| Common Stock Repurchased | -$5M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $18M |
| NET CASH FROM FINANCING | -$9M |
| FREE CASH FLOW | $7M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $24M |
| Short-Term Investments | $0 |
| Net Receivables | $18M |
| Inventory | $13M |
| Other Current Assets | -$31M |
| TOTAL CURRENT ASSETS | $24M |
| PP&E (Net) | $0 |
| Goodwill | $5M |
| Intangible Assets | $0 |
| Long-Term Investments | $4M |
| Tax Assets | $0 |
| Other Non-Current Assets | $983M |
| TOTAL NON-CURRENT ASSETS | $992M |
| TOTAL ASSETS | $1.0B |
| Account Payables | $38M |
| Short-Term Debt | $44M |
| Deferred Revenue | $16M |
| Other Current Liabilities | $31M |
| TOTAL CURRENT LIABILITIES | $188M |
| Long-Term Debt | $447M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $15M |
| TOTAL NON-CURRENT LIABILITIES | $461M |
| TOTAL LIABILITIES | $649M |
| Common Stock | $0 |
| Additional Paid-In Capital | $75M |
| Retained Earnings | $291M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $366M |
| Minority Interest | $0 |
| TOTAL EQUITY | $366M |
| TOTAL LIABILITIES & EQUITY | $1.0B |
| Total Debt | $491M |
| Net Debt | $467M |
