| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $288M | $278M | $263M | 3.5% | 9.4% |
| Op. Income | -$23M | $28M | -$92M | -181.4% | 74.7% |
| Gross Margin | 19.2% | 20.3% | 17.9% | -1.1pp | 1.3pp |
| Net Margin | -6.3% | -8.3% | -37.8% | 2.0pp | 31.4pp |
| EPS (Diluted) | $-0.54 | $-0.68 | $-7.36 | 20.6% | 92.7% |
| Free Cash Flow | -$71M | $50M | -$147M | -244.1% | 51.6% |
| Item | Amount |
|---|---|
| REVENUE | $288M |
| Cost of Revenue | $233M |
| GROSS PROFIT | $55M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $68M |
| Other Expenses | $11M |
| Operating Expenses | $79M |
| Cost & Expenses | $311M |
| OPERATING INCOME | -$23M |
| Interest Income | $10.0K |
| Interest Expense | $3M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$27M |
| Income Tax Expense | -$9M |
| Net Income from Continuing Ops | -$18M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$18M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$18M |
| D&A | $9M |
| EBIT | -$24M |
| EBITDA | -$15M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$18M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | $916.0K |
| Change in Working Capital | -$63M |
| OPERATING CASH FLOW | -$68M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | $67M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $65M |
| FREE CASH FLOW | -$71M |
| Net Change in Cash | -$6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7M |
| Short-Term Investments | $0 |
| Net Receivables | $162M |
| Inventory | $409M |
| Other Current Assets | $43M |
| TOTAL CURRENT ASSETS | $621M |
| PP&E (Net) | $234M |
| Goodwill | $0 |
| Intangible Assets | $74M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $21M |
| TOTAL NON-CURRENT ASSETS | $329M |
| TOTAL ASSETS | $951M |
| Account Payables | $237M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $386M |
| Long-Term Debt | $170M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3M |
| Other Non-Current Liabilities | $19M |
| TOTAL NON-CURRENT LIABILITIES | $309M |
| TOTAL LIABILITIES | $694M |
| Common Stock | $341.0K |
| Additional Paid-In Capital | $1.0B |
| Retained Earnings | -$731M |
| Treasury Stock | -$23M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $256M |
| Minority Interest | $0 |
| TOTAL EQUITY | $256M |
| TOTAL LIABILITIES & EQUITY | $951M |
| Total Debt | $367M |
| Net Debt | $359M |
