| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $46M | $51M | $38M | -10.4% | 19.3% |
| Op. Income | -$4M | -$2M | $57.0K | -92.8% | -7452.7% |
| Gross Margin | 0.6% | 0.9% | 8.4% | -0.3pp | -7.8pp |
| Net Margin | -8.2% | -3.2% | 1.8% | -4.9pp | -10.0pp |
| EPS (Diluted) | $-0.09 | $-0.04 | $0.02 | -126.1% | -648.8% |
| Free Cash Flow | $3M | -$6M | $327.4K | 148.3% | 837.2% |
| Item | Amount |
|---|---|
| REVENUE | $46M |
| Cost of Revenue | $46M |
| GROSS PROFIT | $278.1K |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $4M |
| SG&A Expenses | $4M |
| Other Expenses | $0 |
| Operating Expenses | $4M |
| Cost & Expenses | $50M |
| OPERATING INCOME | -$4M |
| Interest Income | $40.8K |
| Interest Expense | $278.4K |
| Other Income/Expenses | $439.6K |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | $0 |
| 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 | $692.7K |
| EBIT | -$3M |
| EBITDA | -$3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $701.7K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$29.5K |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $5M |
| OPERATING CASH FLOW | $4M |
| Capital Expenditure | -$522.7K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$522.7K |
| Net Debt Issuance | $7M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | $3M |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6M |
| Short-Term Investments | $0 |
| Net Receivables | $31M |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $40M |
| PP&E (Net) | $134M |
| Goodwill | $0 |
| Intangible Assets | $66.0K |
| Long-Term Investments | $4M |
| Tax Assets | $0 |
| Other Non-Current Assets | $459.6K |
| TOTAL NON-CURRENT ASSETS | $138M |
| TOTAL ASSETS | $178M |
| Account Payables | $6M |
| Short-Term Debt | $6M |
| Deferred Revenue | $468.1K |
| Other Current Liabilities | $52.9K |
| TOTAL CURRENT LIABILITIES | $43M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $105M |
| TOTAL LIABILITIES | $148M |
| Common Stock | $421 |
| Additional Paid-In Capital | $16M |
| Retained Earnings | $14M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $30M |
| Minority Interest | $0 |
| TOTAL EQUITY | $30M |
| TOTAL LIABILITIES & EQUITY | $178M |
| Total Debt | $140M |
| Net Debt | $134M |
