| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $118M | $105M | $75M | 12.1% | 57.7% |
| Op. Income | $8M | $6M | $7M | 32.8% | 11.9% |
| Gross Margin | 29.5% | 30.4% | 37.1% | -0.9pp | -7.6pp |
| Net Margin | 6.9% | 9.4% | 9.1% | -2.5pp | -2.3pp |
| EPS (Diluted) | $0.14 | $0.17 | $0.12 | -17.6% | 16.7% |
| Free Cash Flow | $25M | $2M | $13M | 965.3% | 91.1% |
| Item | Amount |
|---|---|
| REVENUE | $118M |
| Cost of Revenue | $83M |
| GROSS PROFIT | $35M |
| R&D Expenses | $11M |
| Selling & Marketing | $9M |
| General & Administrative | $7M |
| SG&A Expenses | $16M |
| Other Expenses | -$206.0K |
| Operating Expenses | $27M |
| Cost & Expenses | $110M |
| OPERATING INCOME | $8M |
| Interest Income | $0 |
| Interest Expense | $992.0K |
| Other Income/Expenses | -$992.0K |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $6M |
| EBIT | $8M |
| EBITDA | $14M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $118M |
| Cost of Revenue | $83M |
| GROSS PROFIT | $35M |
| R&D Expenses | $11M |
| Selling & Marketing | $9M |
| General & Administrative | $7M |
| SG&A Expenses | $16M |
| Other Expenses | -$206.0K |
| Operating Expenses | $27M |
| Cost & Expenses | $110M |
| OPERATING INCOME | $8M |
| Interest Income | $0 |
| Interest Expense | $992.0K |
| Other Income/Expenses | -$992.0K |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $6M |
| EBIT | $8M |
| EBITDA | $14M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $8M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $15M |
| OPERATING CASH FLOW | $30M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | -$4M |
| Purchases of Investments | -$142.9K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$9M |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $70M |
| FREE CASH FLOW | $25M |
| Net Change in Cash | $89M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $155M |
| Short-Term Investments | $0 |
| Net Receivables | $69M |
| Inventory | $51M |
| Other Current Assets | $45M |
| TOTAL CURRENT ASSETS | $320M |
| PP&E (Net) | $78M |
| Goodwill | $168M |
| Intangible Assets | $58M |
| Long-Term Investments | $8M |
| Tax Assets | $18M |
| Other Non-Current Assets | $25M |
| TOTAL NON-CURRENT ASSETS | $356M |
| TOTAL ASSETS | $676M |
| Account Payables | $14M |
| Short-Term Debt | $4M |
| Deferred Revenue | $81M |
| Other Current Liabilities | $84M |
| TOTAL CURRENT LIABILITIES | $186M |
| Long-Term Debt | $56M |
| Deferred Revenue NC | $140.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $41M |
| TOTAL NON-CURRENT LIABILITIES | $100M |
| TOTAL LIABILITIES | $285M |
| Common Stock | $3M |
| Additional Paid-In Capital | $1.0B |
| Retained Earnings | -$624M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $391M |
| Minority Interest | $0 |
| TOTAL EQUITY | $391M |
| TOTAL LIABILITIES & EQUITY | $676M |
| Total Debt | $65M |
| Net Debt | -$90M |
