| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $111M | $130M | $116M | -14.8% | -4.1% |
| Op. Income | -$2M | $2M | -$129M | -183.8% | 98.8% |
| Gross Margin | 28.6% | 31.2% | 12.5% | -2.6pp | 16.0pp |
| Net Margin | -14.3% | 6.1% | -128.2% | -20.4pp | 113.9pp |
| EPS (Diluted) | $-0.67 | $-0.39 | $-5.29 | -71.8% | 87.3% |
| Free Cash Flow | $5M | $9M | -$24M | -48.8% | 119.9% |
| Item | Amount |
|---|---|
| REVENUE | $111M |
| Cost of Revenue | $79M |
| GROSS PROFIT | $32M |
| R&D Expenses | $4M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $29M |
| Other Expenses | $0 |
| Operating Expenses | $33M |
| Cost & Expenses | $113M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | -$15M |
| Income Tax Expense | $442.0K |
| Net Income from Continuing Ops | -$16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$20M |
| D&A | $8M |
| EBIT | -$4M |
| EBITDA | $4M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$16M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | -$332.0K |
| Other Non-Cash Items | $8M |
| Change in Working Capital | $8M |
| OPERATING CASH FLOW | $8M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$1M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$24.0K |
| Other Financing Activities | -$189.0K |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | $5M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $44M |
| Short-Term Investments | $0 |
| Net Receivables | $140M |
| Inventory | $68M |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $267M |
| PP&E (Net) | $76M |
| Goodwill | $205M |
| Intangible Assets | $168M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $19M |
| TOTAL NON-CURRENT ASSETS | $468M |
| TOTAL ASSETS | $734M |
| Account Payables | $26M |
| Short-Term Debt | $4M |
| Deferred Revenue | $59M |
| Other Current Liabilities | $9M |
| TOTAL CURRENT LIABILITIES | $157M |
| Long-Term Debt | $217M |
| Deferred Revenue NC | $20M |
| Deferred Tax Liabilities | $4M |
| Other Non-Current Liabilities | $26M |
| TOTAL NON-CURRENT LIABILITIES | $298M |
| TOTAL LIABILITIES | $455M |
| Common Stock | $4M |
| Additional Paid-In Capital | $546M |
| Retained Earnings | -$23M |
| Treasury Stock | -$442M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $279M |
| Minority Interest | $0 |
| TOTAL EQUITY | $279M |
| TOTAL LIABILITIES & EQUITY | $734M |
| Total Debt | $258M |
| Net Debt | $215M |
