| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $55M | $76M | $53M | -27.1% | 5.3% |
| Op. Income | -$1M | -$10M | -$2M | 87.1% | 38.0% |
| Gross Margin | 24.2% | 13.2% | 24.5% | 11.0pp | -0.4pp |
| Net Margin | -1.5% | -8.9% | -2.1% | 7.4pp | 0.6pp |
| EPS (Diluted) | $-0.09 | $-0.74 | $-0.12 | 87.4% | 22.6% |
| Free Cash Flow | $5M | -$2M | -$5M | 346.1% | 188.1% |
| Item | Amount |
|---|---|
| REVENUE | $55M |
| Cost of Revenue | $42M |
| GROSS PROFIT | $13M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $15M |
| SG&A Expenses | $15M |
| Other Expenses | $0 |
| Operating Expenses | $15M |
| Cost & Expenses | $57M |
| OPERATING INCOME | -$1M |
| Interest Income | $0 |
| Interest Expense | $110.0K |
| Other Income/Expenses | $159.0K |
| INCOME BEFORE TAX | -$843.0K |
| Income Tax Expense | -$245.0K |
| Net Income from Continuing Ops | -$843.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$843.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$843.0K |
| D&A | $1M |
| EBIT | -$1M |
| EBITDA | -$1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$843.0K |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $44.0K |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $4M |
| Capital Expenditure | $256.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $14.0K |
| NET CASH FROM INVESTING | $270.0K |
| Net Debt Issuance | -$602.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$602.0K |
| FREE CASH FLOW | $5M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $0 |
| Net Receivables | $23M |
| Inventory | $33M |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $62M |
| PP&E (Net) | $60M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $22M |
| TOTAL NON-CURRENT ASSETS | $82M |
| TOTAL ASSETS | $145M |
| Account Payables | $9M |
| Short-Term Debt | $4M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $21M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $478.0K |
| Deferred Tax Liabilities | $3M |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $9M |
| TOTAL LIABILITIES | $30M |
| Common Stock | $9M |
| Additional Paid-In Capital | $8M |
| Retained Earnings | $105M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$8M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $115M |
| Minority Interest | $0 |
| TOTAL EQUITY | $115M |
| TOTAL LIABILITIES & EQUITY | $145M |
| Total Debt | $5M |
| Net Debt | $523.0K |
