| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $162M | $170M | — | -5.2% | — |
| Op. Income | $176.0K | $6M | — | -96.9% | — |
| Gross Margin | -9.8% | 13.9% | — | -23.8pp | — |
| Net Margin | -4.0% | -0.3% | — | -3.7pp | — |
| EPS (Diluted) | $-0.56 | $-0.04 | — | -1425.9% | — |
| Free Cash Flow | $14M | $8M | — | 75.9% | — |
| Item | Amount |
|---|---|
| REVENUE | $162M |
| Cost of Revenue | $178M |
| GROSS PROFIT | -$16M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $19M |
| Other Expenses | $0 |
| Operating Expenses | $19M |
| Cost & Expenses | $162M |
| OPERATING INCOME | $176.0K |
| Interest Income | $35.0K |
| Interest Expense | $4M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$6M |
| D&A | $19M |
| EBIT | $107.0K |
| EBITDA | $19M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$6M |
| Depreciation & Amortization | $19M |
| Stock-Based Compensation | $800.0K |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | -$463.6K |
| Change in Working Capital | $8M |
| OPERATING CASH FLOW | $19M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $648.0K |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | -$10M |
| Common Stock Repurchased | -$4M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $1M |
| NET CASH FROM FINANCING | -$13M |
| FREE CASH FLOW | $14M |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $14M |
| Short-Term Investments | $0 |
| Net Receivables | $90M |
| Inventory | $6M |
| Other Current Assets | $20M |
| TOTAL CURRENT ASSETS | $131M |
| PP&E (Net) | $259M |
| Goodwill | $8M |
| Intangible Assets | $70M |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $346M |
| TOTAL ASSETS | $477M |
| Account Payables | $44M |
| Short-Term Debt | $4M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $33M |
| TOTAL CURRENT LIABILITIES | $85M |
| Long-Term Debt | $183M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3M |
| Other Non-Current Liabilities | $21M |
| TOTAL NON-CURRENT LIABILITIES | $218M |
| TOTAL LIABILITIES | $303M |
| Common Stock | $0 |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.1B |
| Treasury Stock | -$11M |
| Accum. Other Comp. Income | -$391M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $174M |
| Minority Interest | $0 |
| TOTAL EQUITY | $174M |
| TOTAL LIABILITIES & EQUITY | $477M |
| Total Debt | $201M |
| Net Debt | $186M |
