| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $126M | $108M | $95M | 17.2% | 32.4% |
| Op. Income | -$10M | -$17M | -$16M | 43.6% | 38.4% |
| Gross Margin | 43.8% | 43.7% | 46.8% | 0.0pp | -3.1pp |
| Net Margin | -3.2% | -15.7% | -18.9% | 12.4pp | 15.7pp |
| EPS (Diluted) | $-0.09 | $-0.36 | $-0.39 | 75.6% | 77.5% |
| Free Cash Flow | -$18M | $13M | $15M | -234.2% | -218.9% |
| Item | Amount |
|---|---|
| REVENUE | $126M |
| Cost of Revenue | $71M |
| GROSS PROFIT | $55M |
| R&D Expenses | $22M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $32M |
| Other Expenses | $11M |
| Operating Expenses | $65M |
| Cost & Expenses | $136M |
| OPERATING INCOME | -$10M |
| Interest Income | $1M |
| Interest Expense | $758.0K |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$8M |
| Income Tax Expense | -$4M |
| 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 | $14M |
| EBIT | -$8M |
| EBITDA | $6M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $14M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$30M |
| OPERATING CASH FLOW | -$14M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$18M |
| Sales/Maturities of Investments | $9M |
| Other Investing Activities | $43.0K |
| NET CASH FROM INVESTING | -$13M |
| Net Debt Issuance | -$416.0K |
| Common Stock Repurchased | -$62.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$478.0K |
| FREE CASH FLOW | -$18M |
| Net Change in Cash | -$14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $150M |
| Short-Term Investments | $48M |
| Net Receivables | $124M |
| Inventory | $134M |
| Other Current Assets | $32M |
| TOTAL CURRENT ASSETS | $514M |
| PP&E (Net) | $108M |
| Goodwill | $282M |
| Intangible Assets | $86M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $31M |
| TOTAL NON-CURRENT ASSETS | $508M |
| TOTAL ASSETS | $1.0B |
| Account Payables | $51M |
| Short-Term Debt | $11M |
| Deferred Revenue | $11M |
| Other Current Liabilities | $25M |
| TOTAL CURRENT LIABILITIES | $117M |
| Long-Term Debt | $7M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $16M |
| Other Non-Current Liabilities | $18M |
| TOTAL NON-CURRENT LIABILITIES | $73M |
| TOTAL LIABILITIES | $190M |
| Common Stock | $50M |
| Additional Paid-In Capital | $706M |
| Retained Earnings | $197M |
| Treasury Stock | -$88M |
| Accum. Other Comp. Income | -$34M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $831M |
| Minority Interest | $0 |
| TOTAL EQUITY | $831M |
| TOTAL LIABILITIES & EQUITY | $1.0B |
| Total Debt | $50M |
| Net Debt | -$100M |
