| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $160M | $178M | $168M | -10.0% | -4.6% |
| Op. Income | -$4M | $675.0K | $36M | -674.7% | -110.8% |
| Gross Margin | 15.5% | 17.6% | 17.1% | -2.1pp | -1.6pp |
| Net Margin | -2.7% | 0.2% | 21.0% | -2.9pp | -23.7pp |
| EPS (Diluted) | $-0.13 | $0.01 | $1.01 | -1454.2% | -112.9% |
| Free Cash Flow | $31M | $68M | $41M | -54.4% | -24.5% |
| Item | Amount |
|---|---|
| REVENUE | $160M |
| Cost of Revenue | $136M |
| GROSS PROFIT | $25M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $29M |
| Operating Expenses | $29M |
| Cost & Expenses | $164M |
| OPERATING INCOME | -$4M |
| Interest Income | $7M |
| Interest Expense | $2M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | $526.0K |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $0 |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $44.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $45M |
| Change in Working Capital | -$12M |
| OPERATING CASH FLOW | $31M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$10M |
| Sales/Maturities of Investments | $979.0K |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$9M |
| Net Debt Issuance | -$23M |
| Common Stock Repurchased | -$2M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$25M |
| FREE CASH FLOW | $31M |
| Net Change in Cash | -$4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $655M |
| Short-Term Investments | $0 |
| Net Receivables | $732M |
| Inventory | $0 |
| Other Current Assets | $83M |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $98M |
| Long-Term Investments | $520M |
| Tax Assets | $0 |
| Other Non-Current Assets | $10M |
| TOTAL NON-CURRENT ASSETS | $628M |
| TOTAL ASSETS | $2.1B |
| Account Payables | $98M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.3B |
| TOTAL CURRENT LIABILITIES | $1.4B |
| Long-Term Debt | $35M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.3B |
| TOTAL NON-CURRENT LIABILITIES | $1.4B |
| TOTAL LIABILITIES | $1.5B |
| Common Stock | $3M |
| Additional Paid-In Capital | $479M |
| Retained Earnings | $176M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $659M |
| Minority Interest | $0 |
| TOTAL EQUITY | $659M |
| TOTAL LIABILITIES & EQUITY | $2.1B |
| Total Debt | $35M |
| Net Debt | -$620M |
