| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $158M | $139M | — | 13.9% | — |
| Op. Income | $22M | $12M | — | 79.5% | — |
| Gross Margin | 66.2% | 67.0% | — | -0.8pp | — |
| Net Margin | 9.3% | 2.3% | — | 7.1pp | — |
| EPS (Diluted) | $0.21 | $0.05 | — | 358.5% | — |
| Free Cash Flow | $37M | $30M | — | 26.2% | — |
| Item | Amount |
|---|---|
| REVENUE | $158M |
| Cost of Revenue | $53M |
| GROSS PROFIT | $104M |
| R&D Expenses | $3M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $83M |
| Other Expenses | $0 |
| Operating Expenses | $86M |
| Cost & Expenses | $136M |
| OPERATING INCOME | $22M |
| Interest Income | $0 |
| Interest Expense | $5M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | $14M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | $17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $15M |
| D&A | $12M |
| EBIT | $26M |
| EBITDA | $37M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $158M |
| Cost of Revenue | $53M |
| GROSS PROFIT | $104M |
| R&D Expenses | $3M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $83M |
| Other Expenses | $0 |
| Operating Expenses | $86M |
| Cost & Expenses | $136M |
| OPERATING INCOME | $22M |
| Interest Income | $0 |
| Interest Expense | $5M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | $14M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | $17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $15M |
| D&A | $12M |
| EBIT | $26M |
| EBITDA | $37M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $15M |
| Depreciation & Amortization | $12M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | $38M |
| Capital Expenditure | -$580.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$580.0K |
| Net Debt Issuance | -$28M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$208.0K |
| NET CASH FROM FINANCING | -$28M |
| FREE CASH FLOW | $37M |
| Net Change in Cash | $9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $51M |
| Short-Term Investments | $0 |
| Net Receivables | $128M |
| Inventory | $82M |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $273M |
| PP&E (Net) | $27M |
| Goodwill | $7M |
| Intangible Assets | $368M |
| Long-Term Investments | $0 |
| Tax Assets | $6M |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $411M |
| TOTAL ASSETS | $684M |
| Account Payables | $11M |
| Short-Term Debt | $19M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $125M |
| TOTAL CURRENT LIABILITIES | $160M |
| Long-Term Debt | $279M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $433.0K |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $295M |
| TOTAL LIABILITIES | $455M |
| Common Stock | $83.0K |
| Additional Paid-In Capital | $521M |
| Retained Earnings | -$335M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $184M |
| Minority Interest | $44M |
| TOTAL EQUITY | $228M |
| TOTAL LIABILITIES & EQUITY | $684M |
| Total Debt | $311M |
| Net Debt | $260M |
