| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $166M | $119M | $120M | 40.1% | 38.3% |
| Op. Income | -$13M | -$81M | -$6M | 83.5% | -120.3% |
| Gross Margin | 24.7% | 7.5% | 33.3% | 17.2pp | -8.7pp |
| Net Margin | -17.3% | -45.4% | 10.4% | 28.1pp | -27.7pp |
| EPS (Diluted) | $-0.11 | $-0.21 | $0.05 | 47.6% | -305.6% |
| Free Cash Flow | $20M | -$19M | -$23M | 204.2% | 187.9% |
| Item | Amount |
|---|---|
| REVENUE | $166M |
| Cost of Revenue | $125M |
| GROSS PROFIT | $41M |
| R&D Expenses | $5M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $49M |
| Other Expenses | $0 |
| Operating Expenses | $54M |
| Cost & Expenses | $180M |
| OPERATING INCOME | -$13M |
| Interest Income | $0 |
| Interest Expense | $138.0K |
| Other Income/Expenses | -$18M |
| INCOME BEFORE TAX | -$31M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | -$29M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$29M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$29M |
| D&A | $19M |
| EBIT | -$31M |
| EBITDA | -$12M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$29M |
| Depreciation & Amortization | $19M |
| Stock-Based Compensation | $26M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $73M |
| Change in Working Capital | -$62M |
| OPERATING CASH FLOW | $27M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | -$15M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$17M |
| NET CASH FROM INVESTING | -$39M |
| Net Debt Issuance | -$6.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$6.0K |
| FREE CASH FLOW | $20M |
| Net Change in Cash | -$14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $208M |
| Short-Term Investments | $0 |
| Net Receivables | $186M |
| Inventory | $374.0K |
| Other Current Assets | $16M |
| TOTAL CURRENT ASSETS | $466M |
| PP&E (Net) | $58M |
| Goodwill | $339M |
| Intangible Assets | $149M |
| Long-Term Investments | $32M |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $583M |
| TOTAL ASSETS | $1.0B |
| Account Payables | $60M |
| Short-Term Debt | $4.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $117M |
| TOTAL CURRENT LIABILITIES | $269M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $12M |
| Other Non-Current Liabilities | $19M |
| TOTAL NON-CURRENT LIABILITIES | $57M |
| TOTAL LIABILITIES | $327M |
| Common Stock | $2M |
| Additional Paid-In Capital | $2.0B |
| Retained Earnings | -$1.2B |
| Treasury Stock | -$18M |
| Accum. Other Comp. Income | -$51M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $723M |
| Minority Interest | $0 |
| TOTAL EQUITY | $723M |
| TOTAL LIABILITIES & EQUITY | $1.0B |
| Total Debt | $30M |
| Net Debt | -$178M |
