| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $83M | $75M | $73M | 9.5% | 13.6% |
| Op. Income | $5M | $7M | $4M | -25.2% | 46.0% |
| Gross Margin | 39.8% | 41.6% | 37.3% | -1.7pp | 2.5pp |
| Net Margin | 8.3% | 65.2% | 3.0% | -56.9pp | 5.2pp |
| EPS (Diluted) | $0.09 | $0.65 | $0.03 | -85.7% | 213.8% |
| Free Cash Flow | $4M | $19M | $9M | -76.6% | -49.0% |
| Item | Amount |
|---|---|
| REVENUE | $83M |
| Cost of Revenue | $50M |
| GROSS PROFIT | $33M |
| R&D Expenses | $4M |
| Selling & Marketing | $6M |
| General & Administrative | $12M |
| SG&A Expenses | $19M |
| Other Expenses | $5M |
| Operating Expenses | $28M |
| Cost & Expenses | $77M |
| OPERATING INCOME | $5M |
| Interest Income | $348.0K |
| Interest Expense | $746.0K |
| Other Income/Expenses | $649.0K |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | -$1M |
| Net Income from Continuing Ops | $7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $7M |
| D&A | $4M |
| EBIT | $7M |
| EBITDA | $11M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $83M |
| Cost of Revenue | $50M |
| GROSS PROFIT | $33M |
| R&D Expenses | $4M |
| Selling & Marketing | $6M |
| General & Administrative | $12M |
| SG&A Expenses | $19M |
| Other Expenses | $5M |
| Operating Expenses | $28M |
| Cost & Expenses | $77M |
| OPERATING INCOME | $5M |
| Interest Income | $348.0K |
| Interest Expense | $746.0K |
| Other Income/Expenses | $649.0K |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | -$1M |
| Net Income from Continuing Ops | $7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $7M |
| D&A | $4M |
| EBIT | $7M |
| EBITDA | $11M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $7M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | $9M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$5M |
| Net Debt Issuance | -$535.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $263.0K |
| NET CASH FROM FINANCING | $459.0K |
| FREE CASH FLOW | $4M |
| Net Change in Cash | $5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $51M |
| Short-Term Investments | $0 |
| Net Receivables | $43M |
| Inventory | $46M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $153M |
| PP&E (Net) | $47M |
| Goodwill | $103M |
| Intangible Assets | $23M |
| Long-Term Investments | $6M |
| Tax Assets | $43M |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $229M |
| TOTAL ASSETS | $382M |
| Account Payables | $59M |
| Short-Term Debt | $2M |
| Deferred Revenue | $2M |
| Other Current Liabilities | $11M |
| TOTAL CURRENT LIABILITIES | $82M |
| Long-Term Debt | $37M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $686.0K |
| TOTAL NON-CURRENT LIABILITIES | $46M |
| TOTAL LIABILITIES | $128M |
| Common Stock | $0 |
| Additional Paid-In Capital | $487M |
| Retained Earnings | -$236M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $198.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $254M |
| Minority Interest | $0 |
| TOTAL EQUITY | $254M |
| TOTAL LIABILITIES & EQUITY | $382M |
| Total Debt | $49M |
| Net Debt | -$3M |
