| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $39M | $39M | $39M | 0.7% | -0.5% |
| Op. Income | $19M | $19M | $20M | -2.0% | -5.3% |
| Gross Margin | 53.7% | 55.2% | 56.5% | -1.5pp | -2.7pp |
| Net Margin | 48.0% | 35.5% | 38.5% | 12.5pp | 9.4pp |
| EPS (Diluted) | $0.51 | $0.38 | $0.41 | 34.2% | 24.4% |
| Free Cash Flow | $28M | $24M | $26M | 15.3% | 9.5% |
| Item | Amount |
|---|---|
| REVENUE | $39M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $21M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $405.0K |
| SG&A Expenses | $405.0K |
| Other Expenses | $2M |
| Operating Expenses | $2M |
| Cost & Expenses | $20M |
| OPERATING INCOME | $19M |
| Interest Income | $0 |
| Interest Expense | $5M |
| Other Income/Expenses | -$129.0K |
| INCOME BEFORE TAX | $19M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $19M |
| D&A | $8M |
| EBIT | $19M |
| EBITDA | $27M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $39M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $21M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $405.0K |
| SG&A Expenses | $405.0K |
| Other Expenses | $2M |
| Operating Expenses | $2M |
| Cost & Expenses | $20M |
| OPERATING INCOME | $19M |
| Interest Income | $0 |
| Interest Expense | $5M |
| Other Income/Expenses | -$129.0K |
| INCOME BEFORE TAX | $19M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $19M |
| D&A | $8M |
| EBIT | $19M |
| EBITDA | $27M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $19M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | $28M |
| Capital Expenditure | $4 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | -$12M |
| Common Stock Repurchased | -$58M |
| Common Dividends Paid | -$4M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$73M |
| FREE CASH FLOW | $28M |
| Net Change in Cash | -$43M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $35M |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $37M |
| PP&E (Net) | $741M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $8M |
| TOTAL NON-CURRENT ASSETS | $749M |
| TOTAL ASSETS | $786M |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $288M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $36M |
| TOTAL NON-CURRENT LIABILITIES | $324M |
| TOTAL LIABILITIES | $324M |
| Common Stock | $388M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $461M |
| Minority Interest | $169.0K |
| TOTAL EQUITY | $462M |
| TOTAL LIABILITIES & EQUITY | $786M |
| Total Debt | $288M |
| Net Debt | $253M |
