| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $31M | $29M | $30M | 5.9% | 4.0% |
| Op. Income | $20M | -$710.0K | $8M | 2948.7% | 159.6% |
| Gross Margin | 80.8% | 80.8% | 42.9% | -0.0pp | 37.8pp |
| Net Margin | 5.3% | -43.2% | 5.9% | 48.5pp | -0.6pp |
| EPS (Diluted) | $0.03 | $-0.50 | $0.04 | 106.6% | -11.3% |
| Free Cash Flow | $8M | $10M | $7M | -20.1% | 14.8% |
| Item | Amount |
|---|---|
| REVENUE | $31M |
| Cost of Revenue | $6M |
| GROSS PROFIT | $25M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | $0 |
| Operating Expenses | $5M |
| Cost & Expenses | $11M |
| OPERATING INCOME | $20M |
| Interest Income | $7.0K |
| Interest Expense | $7M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $890.0K |
| D&A | $11M |
| EBIT | $9M |
| EBITDA | $20M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $31M |
| Cost of Revenue | $6M |
| GROSS PROFIT | $25M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | $0 |
| Operating Expenses | $5M |
| Cost & Expenses | $11M |
| OPERATING INCOME | $20M |
| Interest Income | $7.0K |
| Interest Expense | $7M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $890.0K |
| D&A | $11M |
| EBIT | $9M |
| EBITDA | $20M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$25.0K |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $13M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$26M |
| NET CASH FROM INVESTING | -$31M |
| Net Debt Issuance | $30M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$13M |
| Other Financing Activities | -$57.0K |
| NET CASH FROM FINANCING | $16M |
| FREE CASH FLOW | $8M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3M |
| Short-Term Investments | $0 |
| Net Receivables | $37M |
| Inventory | $0 |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $48M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $1M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $934M |
| TOTAL NON-CURRENT ASSETS | $939M |
| TOTAL ASSETS | $987M |
| Account Payables | $0 |
| Short-Term Debt | $256M |
| Deferred Revenue | $5M |
| Other Current Liabilities | $17M |
| TOTAL CURRENT LIABILITIES | $278M |
| Long-Term Debt | $274M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $283M |
| TOTAL LIABILITIES | $560M |
| Common Stock | $285.0K |
| Additional Paid-In Capital | $715M |
| Retained Earnings | $76M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$365M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $427M |
| Minority Interest | $0 |
| TOTAL EQUITY | $427M |
| TOTAL LIABILITIES & EQUITY | $987M |
| Total Debt | $534M |
| Net Debt | $531M |
