| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $130M | $127M | $126M | 2.8% | 3.3% |
| Op. Income | $2M | -$2M | -$10M | 221.5% | 118.5% |
| Gross Margin | 31.2% | 30.7% | 17.3% | 0.5pp | 13.9pp |
| Net Margin | 6.1% | 26.8% | -61.1% | -20.7pp | 67.2pp |
| EPS (Diluted) | $-0.39 | $-0.49 | $-3.50 | 20.4% | 88.9% |
| Free Cash Flow | $9M | -$160.0K | -$21M | 5981.9% | 145.3% |
| Item | Amount |
|---|---|
| REVENUE | $130M |
| Cost of Revenue | $90M |
| GROSS PROFIT | $41M |
| R&D Expenses | $5M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $28M |
| Other Expenses | $6M |
| Operating Expenses | $39M |
| Cost & Expenses | $129M |
| OPERATING INCOME | $2M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | $8M |
| Income Tax Expense | $555.0K |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$12M |
| D&A | $8M |
| EBIT | $21M |
| EBITDA | $29M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| REVENUE | $130M |
| Cost of Revenue | $90M |
| GROSS PROFIT | $41M |
| R&D Expenses | $5M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $28M |
| Other Expenses | $6M |
| Operating Expenses | $39M |
| Cost & Expenses | $129M |
| OPERATING INCOME | $2M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | $8M |
| Income Tax Expense | $555.0K |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$12M |
| D&A | $8M |
| EBIT | $21M |
| EBITDA | $29M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | $8M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $600.0K |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | -$12M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | $11M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$269.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$1.0K |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | $9M |
| Net Change in Cash | $12M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $40M |
| Short-Term Investments | $0 |
| Net Receivables | $145M |
| Inventory | $69M |
| Other Current Assets | $16M |
| TOTAL CURRENT ASSETS | $270M |
| PP&E (Net) | $74M |
| Goodwill | $205M |
| Intangible Assets | $173M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $19M |
| TOTAL NON-CURRENT ASSETS | $471M |
| TOTAL ASSETS | $741M |
| Account Payables | $26M |
| Short-Term Debt | $4M |
| Deferred Revenue | $63M |
| Other Current Liabilities | $14M |
| TOTAL CURRENT LIABILITIES | $158M |
| Long-Term Debt | $210M |
| Deferred Revenue NC | $21M |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $24M |
| TOTAL NON-CURRENT LIABILITIES | $289M |
| TOTAL LIABILITIES | $447M |
| Common Stock | $4M |
| Additional Paid-In Capital | $549M |
| Retained Earnings | -$7M |
| Treasury Stock | -$442M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $294M |
| Minority Interest | $0 |
| TOTAL EQUITY | $294M |
| TOTAL LIABILITIES & EQUITY | $741M |
| Total Debt | $251M |
| Net Debt | $211M |
