| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $121M | $101M | $97M | 19.7% | 24.2% |
| Op. Income | -$101.0K | -$848.0K | $8M | 88.1% | -101.3% |
| Gross Margin | 20.9% | 24.8% | 35.8% | -3.9pp | -14.8pp |
| Net Margin | -8.0% | -3.3% | -12.3% | -4.7pp | 4.3pp |
| EPS (Diluted) | $-0.11 | $-0.04 | $-0.13 | -175.0% | 15.4% |
| Free Cash Flow | $7M | $6M | $9M | 18.9% | -27.6% |
| Item | Amount |
|---|---|
| REVENUE | $121M |
| Cost of Revenue | $95M |
| GROSS PROFIT | $25M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $25M |
| Other Expenses | $0 |
| Operating Expenses | $25M |
| Cost & Expenses | $121M |
| OPERATING INCOME | -$101.0K |
| Interest Income | $574.0K |
| Interest Expense | $4M |
| Other Income/Expenses | -$12M |
| INCOME BEFORE TAX | -$12M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | -$10M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$10M |
| D&A | $3M |
| EBIT | -$9M |
| EBITDA | -$6M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$10M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$5M |
| Other Non-Cash Items | $9M |
| Change in Working Capital | $11M |
| OPERATING CASH FLOW | $8M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$574.0K |
| Sales/Maturities of Investments | $672.0K |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | -$5M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$5M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$10M |
| FREE CASH FLOW | $7M |
| Net Change in Cash | -$3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $63M |
| Short-Term Investments | $5M |
| Net Receivables | $89M |
| Inventory | $0 |
| Other Current Assets | $28M |
| TOTAL CURRENT ASSETS | $184M |
| PP&E (Net) | $64M |
| Goodwill | $7M |
| Intangible Assets | $152M |
| Long-Term Investments | $0 |
| Tax Assets | $3M |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $230M |
| TOTAL ASSETS | $415M |
| Account Payables | $79M |
| Short-Term Debt | $27M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $106M |
| Long-Term Debt | $152M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $26M |
| Other Non-Current Liabilities | $13M |
| TOTAL NON-CURRENT LIABILITIES | $230M |
| TOTAL LIABILITIES | $336M |
| Common Stock | $9.0K |
| Additional Paid-In Capital | $809M |
| Retained Earnings | -$730M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$760.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $78M |
| Minority Interest | $0 |
| TOTAL EQUITY | $78M |
| TOTAL LIABILITIES & EQUITY | $415M |
| Total Debt | $218M |
| Net Debt | $156M |
