| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $331M | $775M | $379M | -57.3% | -12.6% |
| Op. Income | -$193M | $91M | -$28M | -312.4% | -592.6% |
| Gross Margin | 31.7% | 43.3% | 33.1% | -11.6pp | -1.4pp |
| Net Margin | -53.8% | 8.3% | -4.5% | -62.1pp | -49.3pp |
| EPS (Diluted) | $-2.80 | $1.00 | $-0.26 | -380.0% | -976.9% |
| Free Cash Flow | -$160M | $318M | -$121M | -150.4% | -31.8% |
| Item | Amount |
|---|---|
| REVENUE | $331M |
| Cost of Revenue | $226M |
| GROSS PROFIT | $105M |
| R&D Expenses | $15M |
| Selling & Marketing | $107M |
| General & Administrative | $26M |
| SG&A Expenses | $132M |
| Other Expenses | $151M |
| Operating Expenses | $298M |
| Cost & Expenses | $525M |
| OPERATING INCOME | -$193M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$197M |
| Income Tax Expense | -$18M |
| Net Income from Continuing Ops | -$178M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$178M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$178M |
| D&A | $13M |
| EBIT | -$57M |
| EBITDA | -$44M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$178M |
| Depreciation & Amortization | $13M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$9M |
| Other Non-Cash Items | $139M |
| Change in Working Capital | -$119M |
| OPERATING CASH FLOW | -$151M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$9M |
| Net Debt Issuance | -$396.0K |
| Common Stock Repurchased | -$2M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | -$160M |
| Net Change in Cash | -$163M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $85M |
| Short-Term Investments | $0 |
| Net Receivables | $29M |
| Inventory | $160M |
| Other Current Assets | $30M |
| TOTAL CURRENT ASSETS | $304M |
| PP&E (Net) | $332M |
| Goodwill | $43M |
| Intangible Assets | $90M |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $35M |
| TOTAL NON-CURRENT ASSETS | $502M |
| TOTAL ASSETS | $806M |
| Account Payables | $57M |
| Short-Term Debt | $15M |
| Deferred Revenue | $30M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $196M |
| Long-Term Debt | $142M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $9M |
| Other Non-Current Liabilities | $38M |
| TOTAL NON-CURRENT LIABILITIES | $293M |
| TOTAL LIABILITIES | $488M |
| Common Stock | $916.0K |
| Additional Paid-In Capital | $409M |
| Retained Earnings | $117M |
| Treasury Stock | -$208M |
| Accum. Other Comp. Income | -$127.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $318M |
| Minority Interest | $0 |
| TOTAL EQUITY | $318M |
| TOTAL LIABILITIES & EQUITY | $806M |
| Total Debt | $279M |
| Net Debt | $195M |
