| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $231M | $224M | $138M | 3.1% | 67.3% |
| Op. Income | $14M | $29M | -$24M | -50.6% | 158.8% |
| Gross Margin | 70.5% | 59.0% | 54.0% | 11.5pp | 16.5pp |
| Net Margin | -4.3% | -0.9% | -20.5% | -3.5pp | 16.1pp |
| EPS (Diluted) | $-0.07 | $-0.01 | $-0.22 | -418.2% | 66.3% |
| Free Cash Flow | -$25M | $24M | -$46M | -205.1% | 45.4% |
| Item | Amount |
|---|---|
| REVENUE | $231M |
| Cost of Revenue | $68M |
| GROSS PROFIT | $163M |
| R&D Expenses | $14M |
| Selling & Marketing | $13M |
| General & Administrative | $31M |
| SG&A Expenses | $44M |
| Other Expenses | $90M |
| Operating Expenses | $148M |
| Cost & Expenses | $216M |
| OPERATING INCOME | $14M |
| Interest Income | $1M |
| Interest Expense | $18M |
| Other Income/Expenses | -$23M |
| INCOME BEFORE TAX | -$9M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$10M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$10M |
| D&A | $16M |
| EBIT | $9M |
| EBITDA | $25M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$10M |
| Depreciation & Amortization | $16M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | -$856.0K |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $9M |
| Capital Expenditure | -$34M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$16M |
| NET CASH FROM INVESTING | -$16M |
| Net Debt Issuance | -$633.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$243.0K |
| FREE CASH FLOW | -$25M |
| Net Change in Cash | -$8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $125M |
| Short-Term Investments | $0 |
| Net Receivables | $151M |
| Inventory | $99M |
| Other Current Assets | $57M |
| TOTAL CURRENT ASSETS | $432M |
| PP&E (Net) | $175M |
| Goodwill | $193M |
| Intangible Assets | $249M |
| Long-Term Investments | $31M |
| Tax Assets | $210M |
| Other Non-Current Assets | $14M |
| TOTAL NON-CURRENT ASSETS | $872M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $93M |
| Short-Term Debt | $16M |
| Deferred Revenue | $35M |
| Other Current Liabilities | $125M |
| TOTAL CURRENT LIABILITIES | $269M |
| Long-Term Debt | $889M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | -$13M |
| TOTAL NON-CURRENT LIABILITIES | $933M |
| TOTAL LIABILITIES | $1.2B |
| Common Stock | $13.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $44.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $101M |
| Minority Interest | $0 |
| TOTAL EQUITY | $101M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $962M |
| Net Debt | $836M |
