| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $67M | $61M | $85M | 9.8% | -21.6% |
| Op. Income | $21M | $12M | $28M | 79.4% | -24.5% |
| Gross Margin | 37.1% | 25.1% | 38.2% | 12.0pp | -1.1pp |
| Net Margin | -22.5% | -21.4% | 21.1% | -1.1pp | -43.6pp |
| EPS (Diluted) | $-0.29 | $-0.25 | $0.35 | -16.0% | -182.9% |
| Item | Amount |
|---|---|
| REVENUE | $67M |
| Cost of Revenue | $42M |
| GROSS PROFIT | $25M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $3M |
| Other Expenses | $0 |
| Operating Expenses | $3M |
| Cost & Expenses | $46M |
| OPERATING INCOME | $21M |
| Interest Income | $23.0K |
| Interest Expense | $1M |
| Other Income/Expenses | -$36M |
| INCOME BEFORE TAX | -$15M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$15M |
| D&A | $24M |
| EBIT | $21M |
| EBITDA | $45M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $0 |
| Net Receivables | $17M |
| Inventory | $5M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $30M |
| PP&E (Net) | $1.2B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $1.2B |
| Account Payables | $3M |
| Short-Term Debt | $39M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $40M |
| TOTAL CURRENT LIABILITIES | $81M |
| Long-Term Debt | $26M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$26M |
| TOTAL NON-CURRENT LIABILITIES | $26M |
| TOTAL LIABILITIES | $107M |
| Common Stock | $1.1B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $1.2B |
| Total Debt | $91M |
| Net Debt | $86M |
