| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $321M | $322M | — | -0.4% | — |
| Op. Income | $21M | $22M | — | -3.9% | — |
| Gross Margin | 12.4% | 29.1% | — | -16.7pp | — |
| Net Margin | -2.3% | 3.9% | — | -6.1pp | — |
| EPS (Diluted) | $-0.15 | $0.25 | — | -160.0% | — |
| Free Cash Flow | $49M | $29M | — | 67.9% | — |
| Item | Amount |
|---|---|
| REVENUE | $321M |
| Cost of Revenue | $294M |
| GROSS PROFIT | $40M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $19M |
| Operating Expenses | $19M |
| Cost & Expenses | $307M |
| OPERATING INCOME | $21M |
| Interest Income | $862.0K |
| Interest Expense | $4M |
| Other Income/Expenses | -$28M |
| INCOME BEFORE TAX | -$6M |
| Income Tax Expense | $786.0K |
| NET INCOME | -$7M |
| D&A | $10M |
| EBIT | -$900.0K |
| EBITDA | $10M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $10M |
| Stock-Based Compensation | $357.0K |
| Deferred Income Tax | -$3M |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $48M |
| OPERATING CASH FLOW | $50M |
| Capital Expenditure | -$994.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$11M |
| NET CASH FROM INVESTING | -$11M |
| Net Debt Issuance | -$29M |
| Common Stock Repurchased | -$8M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | -$44M |
| FREE CASH FLOW | $49M |
| Net Change in Cash | -$5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $64M |
| Short-Term Investments | $0 |
| Net Receivables | $116M |
| Inventory | $0 |
| Other Current Assets | $173M |
| TOTAL CURRENT ASSETS | $352M |
| PP&E (Net) | $83M |
| Goodwill | $77M |
| Intangible Assets | $66M |
| Long-Term Investments | $10M |
| Tax Assets | $25M |
| Other Non-Current Assets | $151M |
| TOTAL NON-CURRENT ASSETS | $412M |
| TOTAL ASSETS | $764M |
| Account Payables | $40M |
| Short-Term Debt | $38M |
| Deferred Revenue | $34M |
| Other Current Liabilities | $170M |
| TOTAL CURRENT LIABILITIES | $310M |
| Long-Term Debt | $151M |
| Deferred Revenue NC | $57M |
| Deferred Tax Liabilities | $4M |
| Other Non-Current Liabilities | $261M |
| TOTAL NON-CURRENT LIABILITIES | $527M |
| TOTAL LIABILITIES | $593M |
| Common Stock | $49M |
| Additional Paid-In Capital | $92M |
| Retained Earnings | $234M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$202M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $173M |
| Minority Interest | -$2M |
| TOTAL EQUITY | $171M |
| TOTAL LIABILITIES & EQUITY | $764M |
| Total Debt | $270M |
| Net Debt | $206M |
