| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $175M | $218M | $180M | -19.6% | -2.3% |
| Op. Income | $28M | $54M | $20M | -48.9% | 40.3% |
| Gross Margin | 54.1% | 56.8% | 52.1% | -2.7pp | 1.9pp |
| Net Margin | -23.3% | 16.6% | 4.8% | -39.9pp | -28.2pp |
| EPS (Diluted) | $-1.49 | $1.28 | $0.29 | -216.4% | -613.8% |
| Free Cash Flow | $59M | $52M | $67M | 14.5% | -12.0% |
| Item | Amount |
|---|---|
| REVENUE | $175M |
| Cost of Revenue | $81M |
| GROSS PROFIT | $95M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $67M |
| Other Expenses | $0 |
| Operating Expenses | $67M |
| Cost & Expenses | $148M |
| OPERATING INCOME | $28M |
| Interest Income | $300.0K |
| Interest Expense | $3M |
| Other Income/Expenses | -$85M |
| INCOME BEFORE TAX | -$58M |
| Income Tax Expense | -$17M |
| Net Income from Continuing Ops | -$41M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$41M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$41M |
| D&A | $17M |
| EBIT | $28M |
| EBITDA | $44M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$41M |
| Depreciation & Amortization | $17M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | -$15M |
| Other Non-Cash Items | $72M |
| Change in Working Capital | $35M |
| OPERATING CASH FLOW | $74M |
| Capital Expenditure | -$15M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$15M |
| Net Debt Issuance | -$36M |
| Common Stock Repurchased | -$34M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$70M |
| FREE CASH FLOW | $59M |
| Net Change in Cash | -$11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $23M |
| Short-Term Investments | $0 |
| Net Receivables | $161M |
| Inventory | $0 |
| Other Current Assets | $34M |
| TOTAL CURRENT ASSETS | $218M |
| PP&E (Net) | $15M |
| Goodwill | $406M |
| Intangible Assets | $97M |
| Long-Term Investments | $0 |
| Tax Assets | $48M |
| Other Non-Current Assets | $33M |
| TOTAL NON-CURRENT ASSETS | $599M |
| TOTAL ASSETS | $816M |
| Account Payables | $28M |
| Short-Term Debt | $6M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $193M |
| Long-Term Debt | $149M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $48M |
| TOTAL NON-CURRENT LIABILITIES | $200M |
| TOTAL LIABILITIES | $393M |
| Common Stock | $400.0K |
| Additional Paid-In Capital | $356M |
| Retained Earnings | $555M |
| Treasury Stock | -$469M |
| Accum. Other Comp. Income | -$19M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $423M |
| Minority Interest | $0 |
| TOTAL EQUITY | $423M |
| TOTAL LIABILITIES & EQUITY | $816M |
| Total Debt | $163M |
| Net Debt | $140M |
