| Metric | Q2 2026 | Q1 2026 | Q2 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $52M | $49M | $51M | 4.2% | 0.8% |
| Op. Income | -$4M | -$7M | -$2M | 38.8% | -88.4% |
| Gross Margin | -1.5% | -5.0% | 0.9% | 3.5pp | -2.4pp |
| Net Margin | -7.5% | -13.2% | -3.2% | 5.7pp | -4.2pp |
| EPS (Diluted) | $-0.09 | $-0.15 | $-0.04 | 43.3% | -113.6% |
| Free Cash Flow | -$2M | -$2M | -$6M | 16.9% | 74.0% |
| Item | Amount |
|---|---|
| REVENUE | $52M |
| Cost of Revenue | $52M |
| GROSS PROFIT | -$770.3K |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $3M |
| SG&A Expenses | $3M |
| Other Expenses | $0 |
| Operating Expenses | $3M |
| Cost & Expenses | $56M |
| OPERATING INCOME | -$4M |
| Interest Income | $0 |
| Interest Expense | $44.1K |
| Other Income/Expenses | $258.2K |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | $19.5K |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $0 |
| EBIT | -$4M |
| EBITDA | -$4M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $889.8K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $15.4K |
| OPERATING CASH FLOW | -$1M |
| Capital Expenditure | -$580.8K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $420.0K |
| NET CASH FROM INVESTING | -$160.8K |
| Net Debt Issuance | -$182.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$182.0K |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $0 |
| Net Receivables | $22M |
| Inventory | $0 |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $29M |
| PP&E (Net) | $119M |
| Goodwill | $0 |
| Intangible Assets | $31.4K |
| Long-Term Investments | $4M |
| Tax Assets | $0 |
| Other Non-Current Assets | $835.7K |
| TOTAL NON-CURRENT ASSETS | $124M |
| TOTAL ASSETS | $153M |
| Account Payables | $9M |
| Short-Term Debt | $34M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1M |
| TOTAL CURRENT LIABILITIES | $45M |
| Long-Term Debt | $89M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$89M |
| TOTAL NON-CURRENT LIABILITIES | $90M |
| TOTAL LIABILITIES | $135M |
| Common Stock | $454 |
| Additional Paid-In Capital | $20M |
| Retained Earnings | -$2M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $19M |
| Minority Interest | $0 |
| TOTAL EQUITY | $19M |
| TOTAL LIABILITIES & EQUITY | $153M |
| Total Debt | $213M |
| Net Debt | $208M |
