| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $122M | $126M | $94M | -3.2% | 29.9% |
| Op. Income | -$14M | -$10M | -$22M | -39.0% | 37.6% |
| Gross Margin | 34.0% | 43.8% | 38.5% | -9.8pp | -4.6pp |
| Net Margin | -18.4% | -3.2% | -22.7% | -15.1pp | 4.3pp |
| EPS (Diluted) | $-0.48 | $-0.09 | $-0.46 | -447.3% | -4.3% |
| Free Cash Flow | $36M | -$18M | -$5M | 302.9% | 866.5% |
| Item | Amount |
|---|---|
| REVENUE | $122M |
| Cost of Revenue | $81M |
| GROSS PROFIT | $42M |
| R&D Expenses | $23M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $32M |
| Other Expenses | $0 |
| Operating Expenses | $55M |
| Cost & Expenses | $136M |
| OPERATING INCOME | -$14M |
| Interest Income | $4M |
| Interest Expense | $2M |
| Other Income/Expenses | -$291.0K |
| INCOME BEFORE TAX | -$14M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | -$22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$22M |
| D&A | $11M |
| EBIT | -$14M |
| EBITDA | -$3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$22M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $3M |
| Other Non-Cash Items | $10M |
| Change in Working Capital | $38M |
| OPERATING CASH FLOW | $40M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $597.0K |
| Purchases of Investments | -$223M |
| Sales/Maturities of Investments | $15M |
| Other Investing Activities | $914.0K |
| NET CASH FROM INVESTING | -$210M |
| Net Debt Issuance | $277M |
| Common Stock Repurchased | $2M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$31M |
| NET CASH FROM FINANCING | $248M |
| FREE CASH FLOW | $36M |
| Net Change in Cash | $77M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $227M |
| Short-Term Investments | $257M |
| Net Receivables | $109M |
| Inventory | $129M |
| Other Current Assets | $28M |
| TOTAL CURRENT ASSETS | $750M |
| PP&E (Net) | $106M |
| Goodwill | $283M |
| Intangible Assets | $79M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $24M |
| TOTAL NON-CURRENT ASSETS | $493M |
| TOTAL ASSETS | $1.2B |
| Account Payables | $41M |
| Short-Term Debt | $11M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $55M |
| TOTAL CURRENT LIABILITIES | $109M |
| Long-Term Debt | $317M |
| Deferred Revenue NC | $4M |
| Deferred Tax Liabilities | $15M |
| Other Non-Current Liabilities | -$19M |
| TOTAL NON-CURRENT LIABILITIES | $348M |
| TOTAL LIABILITIES | $457M |
| Common Stock | $50M |
| Additional Paid-In Capital | $682M |
| Retained Earnings | $174M |
| Treasury Stock | -$88M |
| Accum. Other Comp. Income | -$32M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $786M |
| Minority Interest | $0 |
| TOTAL EQUITY | $786M |
| TOTAL LIABILITIES & EQUITY | $1.2B |
| Total Debt | $359M |
| Net Debt | $132M |
