| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $45M | $43M | $6M | 6.2% | 695.6% |
| Op. Income | -$5M | -$4M | -$20M | -48.9% | 72.7% |
| Gross Margin | 4.8% | 29.4% | 39.5% | -24.6pp | -34.7pp |
| Net Margin | -13.2% | -18.6% | -308.9% | 5.4pp | 295.6pp |
| EPS (Diluted) | $-0.03 | $-0.03 | $-0.07 | 24.0% | 64.7% |
| Free Cash Flow | $9M | -$15M | -$33M | 160.7% | 126.5% |
| Item | Amount |
|---|---|
| REVENUE | $45M |
| Cost of Revenue | $43M |
| GROSS PROFIT | $2M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $18M |
| SG&A Expenses | $18M |
| Other Expenses | $3M |
| Operating Expenses | $22M |
| Cost & Expenses | $51M |
| OPERATING INCOME | -$5M |
| Interest Income | $4M |
| Interest Expense | $5M |
| Other Income/Expenses | -$648.0K |
| INCOME BEFORE TAX | -$6M |
| Income Tax Expense | $540.0K |
| Net Income from Continuing Ops | -$6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$6M |
| D&A | $5M |
| EBIT | -$5M |
| EBITDA | -$6.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$6M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $41M |
| Other Non-Cash Items | -$58M |
| Change in Working Capital | $35M |
| OPERATING CASH FLOW | $20M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | -$397M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $399M |
| NET CASH FROM INVESTING | -$9M |
| Net Debt Issuance | -$1M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$2M |
| FREE CASH FLOW | $9M |
| Net Change in Cash | $9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1M |
| Short-Term Investments | $0 |
| Net Receivables | $9M |
| Inventory | $19M |
| Other Current Assets | $114M |
| TOTAL CURRENT ASSETS | $143M |
| PP&E (Net) | $356M |
| Goodwill | $44M |
| Intangible Assets | $95M |
| Long-Term Investments | $64M |
| Tax Assets | $0 |
| Other Non-Current Assets | $17M |
| TOTAL NON-CURRENT ASSETS | $576M |
| TOTAL ASSETS | $719M |
| Account Payables | $1M |
| Short-Term Debt | $962.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $35M |
| TOTAL CURRENT LIABILITIES | $79M |
| Long-Term Debt | $165M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $169M |
| TOTAL LIABILITIES | $248M |
| Common Stock | $2M |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$834M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $466M |
| Minority Interest | $5M |
| TOTAL EQUITY | $471M |
| TOTAL LIABILITIES & EQUITY | $719M |
| Total Debt | $168M |
| Net Debt | $166M |
