| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $495M | $504M | $410M | -1.9% | 20.8% |
| Op. Income | -$33M | $13M | -$3M | -345.0% | -1019.7% |
| Gross Margin | 24.4% | 28.9% | 28.8% | -4.5pp | -4.5pp |
| Net Margin | -6.2% | -9.3% | -1.9% | 3.1pp | -4.3pp |
| EPS (Diluted) | $-0.56 | $-0.85 | $-0.15 | 34.1% | -273.3% |
| Free Cash Flow | $4M | $49M | -$37M | -92.8% | 109.6% |
| Item | Amount |
|---|---|
| REVENUE | $495M |
| Cost of Revenue | $374M |
| GROSS PROFIT | $121M |
| R&D Expenses | $0 |
| Selling & Marketing | $48M |
| General & Administrative | $87M |
| SG&A Expenses | $135M |
| Other Expenses | $18M |
| Operating Expenses | $153M |
| Cost & Expenses | $528M |
| OPERATING INCOME | -$33M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$36M |
| Income Tax Expense | -$5M |
| Net Income from Continuing Ops | -$31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$31M |
| D&A | $21M |
| EBIT | -$14M |
| EBITDA | $7M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$31M |
| Depreciation & Amortization | $21M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $12M |
| Change in Working Capital | $16M |
| OPERATING CASH FLOW | $23M |
| Capital Expenditure | -$20M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$809M |
| Sales/Maturities of Investments | $43M |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$789M |
| Net Debt Issuance | -$200.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $91M |
| NET CASH FROM FINANCING | $91M |
| FREE CASH FLOW | $4M |
| Net Change in Cash | -$675M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.6B |
| Short-Term Investments | $0 |
| Net Receivables | $158M |
| Inventory | $0 |
| Other Current Assets | $774M |
| TOTAL CURRENT ASSETS | $2.6B |
| PP&E (Net) | $204M |
| Goodwill | $0 |
| Intangible Assets | $380M |
| Long-Term Investments | $2.4B |
| Tax Assets | $91M |
| Other Non-Current Assets | $113M |
| TOTAL NON-CURRENT ASSETS | $3.2B |
| TOTAL ASSETS | $5.8B |
| Account Payables | $107M |
| Short-Term Debt | $1M |
| Deferred Revenue | $252M |
| Other Current Liabilities | $4.4B |
| TOTAL CURRENT LIABILITIES | $4.8B |
| Long-Term Debt | $63M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $402.0K |
| TOTAL NON-CURRENT LIABILITIES | $66M |
| TOTAL LIABILITIES | $4.9B |
| Common Stock | $56.0K |
| Additional Paid-In Capital | $422M |
| Retained Earnings | $692M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$200M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $913M |
| Minority Interest | $0 |
| TOTAL EQUITY | $913M |
| TOTAL LIABILITIES & EQUITY | $5.8B |
| Total Debt | $67M |
| Net Debt | -$1.6B |
