| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $312M | $387M | — | -19.4% | — |
| Op. Income | -$2M | $9M | — | -122.8% | — |
| Gross Margin | 13.6% | 12.0% | — | 1.6pp | — |
| Net Margin | -4.1% | -2.7% | — | -1.4pp | — |
| EPS (Diluted) | $-0.07 | $-0.06 | — | -22.5% | — |
| Free Cash Flow | $578.0K | -$2M | — | 133.0% | — |
| Item | Amount |
|---|---|
| REVENUE | $312M |
| Cost of Revenue | $269M |
| GROSS PROFIT | $42M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $75M |
| Other Expenses | -$30M |
| Operating Expenses | $44M |
| Cost & Expenses | $314M |
| OPERATING INCOME | -$2M |
| Interest Income | $830.0K |
| Interest Expense | $4M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$5M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | -$13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$13M |
| D&A | $20M |
| EBIT | -$821.0K |
| EBITDA | $19M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$13M |
| Depreciation & Amortization | $20M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $9M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | $19M |
| Capital Expenditure | -$19M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$19M |
| Net Debt Issuance | -$7M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$3M |
| Other Financing Activities | -$4M |
| NET CASH FROM FINANCING | -$14M |
| FREE CASH FLOW | $578.0K |
| Net Change in Cash | -$14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $121M |
| Short-Term Investments | $13M |
| Net Receivables | $282M |
| Inventory | $369M |
| Other Current Assets | $35M |
| TOTAL CURRENT ASSETS | $820M |
| PP&E (Net) | $521M |
| Goodwill | $14M |
| Intangible Assets | $128M |
| Long-Term Investments | $30M |
| Tax Assets | $6M |
| Other Non-Current Assets | $21M |
| TOTAL NON-CURRENT ASSETS | $721M |
| TOTAL ASSETS | $1.5B |
| Account Payables | $225M |
| Short-Term Debt | $95M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $174M |
| TOTAL CURRENT LIABILITIES | $495M |
| Long-Term Debt | $52M |
| Deferred Revenue NC | $33M |
| Deferred Tax Liabilities | $18M |
| Other Non-Current Liabilities | $90M |
| TOTAL NON-CURRENT LIABILITIES | $259M |
| TOTAL LIABILITIES | $755M |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $787M |
| TOTAL STOCKHOLDERS' EQUITY | $787M |
| Minority Interest | $0 |
| TOTAL EQUITY | $787M |
| TOTAL LIABILITIES & EQUITY | $1.5B |
| Total Debt | $213M |
| Net Debt | $91M |
