| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $123M | $76M | — | 61.9% | — |
| Op. Income | $48M | $19M | — | 152.6% | — |
| Gross Margin | 51.6% | 41.2% | — | 10.4pp | — |
| Net Margin | 25.7% | 20.7% | — | 5.0pp | — |
| EPS (Diluted) | $0.31 | $0.15 | — | 106.7% | — |
| Free Cash Flow | -$160M | -$201M | — | 20.6% | — |
| Item | Amount |
|---|---|
| REVENUE | $123M |
| Cost of Revenue | $59M |
| GROSS PROFIT | $63M |
| R&D Expenses | $7M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $8M |
| Other Expenses | $0 |
| Operating Expenses | $15M |
| Cost & Expenses | $75M |
| OPERATING INCOME | $48M |
| Interest Income | $9M |
| Interest Expense | $9M |
| Other Income/Expenses | -$384.0K |
| INCOME BEFORE TAX | $47M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $46M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $12M |
| EBIT | $57M |
| EBITDA | $69M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $123M |
| Cost of Revenue | $59M |
| GROSS PROFIT | $63M |
| R&D Expenses | $7M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $8M |
| Other Expenses | $0 |
| Operating Expenses | $15M |
| Cost & Expenses | $75M |
| OPERATING INCOME | $48M |
| Interest Income | $9M |
| Interest Expense | $9M |
| Other Income/Expenses | -$384.0K |
| INCOME BEFORE TAX | $47M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $46M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $12M |
| EBIT | $57M |
| EBITDA | $69M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $31M |
| Depreciation & Amortization | $15M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $37M |
| Change in Working Capital | $63M |
| OPERATING CASH FLOW | $149M |
| Capital Expenditure | -$309M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$11M |
| NET CASH FROM INVESTING | -$320M |
| Net Debt Issuance | -$34M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$26M |
| Other Financing Activities | $403.0K |
| NET CASH FROM FINANCING | -$59M |
| FREE CASH FLOW | -$160M |
| Net Change in Cash | -$230M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $650M |
| Short-Term Investments | $0 |
| Net Receivables | $221M |
| Inventory | $0 |
| Other Current Assets | $51M |
| TOTAL CURRENT ASSETS | $921M |
| PP&E (Net) | $2.0B |
| Goodwill | $0 |
| Intangible Assets | $2M |
| Long-Term Investments | $1.7B |
| Tax Assets | $0 |
| Other Non-Current Assets | $71M |
| TOTAL NON-CURRENT ASSETS | $3.8B |
| TOTAL ASSETS | $4.7B |
| Account Payables | $48M |
| Short-Term Debt | $499M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $153M |
| TOTAL CURRENT LIABILITIES | $700M |
| Long-Term Debt | $1.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $246M |
| TOTAL NON-CURRENT LIABILITIES | $1.7B |
| TOTAL LIABILITIES | $2.4B |
| Common Stock | $102M |
| Additional Paid-In Capital | $1.9B |
| Retained Earnings | -$119M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.9B |
| Minority Interest | $414M |
| TOTAL EQUITY | $2.3B |
| TOTAL LIABILITIES & EQUITY | $4.7B |
| Total Debt | $1.9B |
| Net Debt | $1.3B |
