| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $174M | — | $42M | — | 312.9% |
| Op. Income | $35M | — | -$471.0K | — | 7556.0% |
| Gross Margin | 22.5% | — | 18.3% | — | 4.1pp |
| Net Margin | -13.9% | — | 2.4% | — | -16.3pp |
| EPS (Diluted) | $-0.08 | — | $0.00 | — | -2100.0% |
| Free Cash Flow | -$29M | — | -$51M | — | 43.6% |
| Item | Amount |
|---|---|
| REVENUE | $174M |
| Cost of Revenue | $135M |
| GROSS PROFIT | $39M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $4M |
| Other Expenses | $0 |
| Operating Expenses | $4M |
| Cost & Expenses | $139M |
| OPERATING INCOME | $35M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | -$61M |
| INCOME BEFORE TAX | -$25M |
| Income Tax Expense | -$1M |
| Net Income from Continuing Ops | -$24M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$24M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$24M |
| D&A | $0 |
| EBIT | -$14M |
| EBITDA | -$14M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$24M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $35M |
| Change in Working Capital | $345.9K |
| OPERATING CASH FLOW | $11M |
| Capital Expenditure | -$39M |
| Acquisitions (Net) | $793.1K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $54.3K |
| NET CASH FROM INVESTING | -$39M |
| Net Debt Issuance | $190M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $197M |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | $158M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $215M |
| Short-Term Investments | $998.2K |
| Net Receivables | $90M |
| Inventory | $62M |
| Other Current Assets | $55M |
| TOTAL CURRENT ASSETS | $422M |
| PP&E (Net) | $788M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $8M |
| Tax Assets | $0 |
| Other Non-Current Assets | $15M |
| TOTAL NON-CURRENT ASSETS | $811M |
| TOTAL ASSETS | $1.2B |
| Account Payables | $111M |
| Short-Term Debt | $9M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $132M |
| TOTAL CURRENT LIABILITIES | $276M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $38M |
| Other Non-Current Liabilities | $106M |
| TOTAL NON-CURRENT LIABILITIES | $379M |
| TOTAL LIABILITIES | $655M |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$490M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1.1B |
| TOTAL STOCKHOLDERS' EQUITY | $578M |
| Minority Interest | $0 |
| TOTAL EQUITY | $578M |
| TOTAL LIABILITIES & EQUITY | $1.2B |
| Total Debt | $243M |
| Net Debt | $28M |
