| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $69M | $81M | $91M | -15.1% | -24.1% |
| Op. Income | $1M | $2M | $6M | -37.0% | -74.5% |
| Gross Margin | 19.6% | 15.8% | 19.8% | 3.8pp | -0.2pp |
| Net Margin | -1.9% | -1.1% | 1.2% | -0.8pp | -3.2pp |
| EPS (Diluted) | $-0.09 | $-0.06 | $0.08 | -44.0% | -220.1% |
| Free Cash Flow | -$5M | $11M | -$12M | -145.1% | 60.2% |
| Item | Amount |
|---|---|
| REVENUE | $69M |
| Cost of Revenue | $55M |
| GROSS PROFIT | $13M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $8M |
| SG&A Expenses | $8M |
| Other Expenses | $4M |
| Operating Expenses | $12M |
| Cost & Expenses | $67M |
| OPERATING INCOME | $1M |
| Interest Income | $29.0K |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | -$636.0K |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1M |
| D&A | $4M |
| EBIT | $1M |
| EBITDA | $5M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$1M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $647.0K |
| Deferred Income Tax | -$501.0K |
| Other Non-Cash Items | $433.0K |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | -$5M |
| Capital Expenditure | -$39.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$39.0K |
| Net Debt Issuance | $5M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$93.0K |
| NET CASH FROM FINANCING | $5M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | $132.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $257.0K |
| Short-Term Investments | $0 |
| Net Receivables | $37M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $40M |
| PP&E (Net) | $9M |
| Goodwill | $138M |
| Intangible Assets | $88M |
| Long-Term Investments | $0 |
| Tax Assets | $8M |
| Other Non-Current Assets | $115.0K |
| TOTAL NON-CURRENT ASSETS | $244M |
| TOTAL ASSETS | $284M |
| Account Payables | $10M |
| Short-Term Debt | $17M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $8M |
| TOTAL CURRENT LIABILITIES | $41M |
| Long-Term Debt | $116M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $130M |
| TOTAL LIABILITIES | $171M |
| Common Stock | $14.0K |
| Additional Paid-In Capital | $102M |
| Retained Earnings | $10M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $112M |
| Minority Interest | $0 |
| TOTAL EQUITY | $112M |
| TOTAL LIABILITIES & EQUITY | $284M |
| Total Debt | $150M |
| Net Debt | $150M |
