| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $185M | $169M | $150M | 9.6% | 23.7% |
| Op. Income | $16M | $34M | $16M | -53.5% | -0.2% |
| Gross Margin | 84.6% | 87.4% | 90.1% | -2.7pp | -5.4pp |
| Net Margin | 0.9% | 10.2% | 9.8% | -9.3pp | -8.9pp |
| EPS (Diluted) | $0.01 | $0.06 | $0.05 | -90.3% | -89.0% |
| Free Cash Flow | $16M | $35M | -$4M | -54.8% | 479.5% |
| Item | Amount |
|---|---|
| REVENUE | $185M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $157M |
| R&D Expenses | $24M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $117M |
| Other Expenses | $0 |
| Operating Expenses | $141M |
| Cost & Expenses | $169M |
| OPERATING INCOME | $16M |
| Interest Income | $833.0K |
| Interest Expense | $11M |
| Other Income/Expenses | -$13M |
| INCOME BEFORE TAX | $3M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $2M |
| EBIT | $15M |
| EBITDA | $16M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $185M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $157M |
| R&D Expenses | $24M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $117M |
| Other Expenses | $0 |
| Operating Expenses | $141M |
| Cost & Expenses | $169M |
| OPERATING INCOME | $16M |
| Interest Income | $833.0K |
| Interest Expense | $11M |
| Other Income/Expenses | -$13M |
| INCOME BEFORE TAX | $3M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $2M |
| EBIT | $15M |
| EBITDA | $16M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | -$3M |
| Stock-Based Compensation | $27M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | $16M |
| Capital Expenditure | -$299.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$23M |
| Sales/Maturities of Investments | $17M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | $40.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $14M |
| NET CASH FROM FINANCING | $14M |
| FREE CASH FLOW | $16M |
| Net Change in Cash | $23M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $214M |
| Short-Term Investments | $80M |
| Net Receivables | $115M |
| Inventory | $229M |
| Other Current Assets | $39M |
| TOTAL CURRENT ASSETS | $676M |
| PP&E (Net) | $48M |
| Goodwill | $198M |
| Intangible Assets | $14M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $14M |
| TOTAL NON-CURRENT ASSETS | $274M |
| TOTAL ASSETS | $950M |
| Account Payables | $29M |
| Short-Term Debt | $9M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $134M |
| TOTAL CURRENT LIABILITIES | $238M |
| Long-Term Debt | $434M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$37M |
| TOTAL NON-CURRENT LIABILITIES | $438M |
| TOTAL LIABILITIES | $676M |
| Common Stock | $3M |
| Additional Paid-In Capital | $3.0B |
| Retained Earnings | -$2.8B |
| Treasury Stock | -$71.0K |
| Accum. Other Comp. Income | $24M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $274M |
| Minority Interest | $0 |
| TOTAL EQUITY | $274M |
| TOTAL LIABILITIES & EQUITY | $950M |
| Total Debt | $483M |
| Net Debt | $269M |
