| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $131M | $120M | — | 8.9% | — |
| Op. Income | $3M | -$14M | — | 121.6% | — |
| Gross Margin | 8.4% | 25.9% | — | -17.6pp | — |
| Net Margin | 0.7% | -27.8% | — | 28.5pp | — |
| EPS (Diluted) | $0.01 | $-0.38 | — | 102.7% | — |
| Free Cash Flow | $3M | $907.5K | — | 183.7% | — |
| Item | Amount |
|---|---|
| REVENUE | $131M |
| Cost of Revenue | $120M |
| GROSS PROFIT | $11M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $8M |
| Other Expenses | $0 |
| Operating Expenses | $8M |
| Cost & Expenses | $127M |
| OPERATING INCOME | $3M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$228.4K |
| Income Tax Expense | $29.3K |
| Net Income from Continuing Ops | -$257.6K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $882.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $882.0K |
| D&A | $6M |
| EBIT | $3M |
| EBITDA | $9M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $882.0K |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | $273.7K |
| OPERATING CASH FLOW | $4M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$893.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | $3M |
| Net Change in Cash | -$125.5K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $34M |
| Short-Term Investments | $65.1K |
| Net Receivables | $6M |
| Inventory | $49M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $98M |
| PP&E (Net) | $58M |
| Goodwill | $66M |
| Intangible Assets | $27M |
| Long-Term Investments | $940.5K |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $155M |
| TOTAL ASSETS | $254M |
| Account Payables | $22M |
| Short-Term Debt | $19M |
| Deferred Revenue | $4M |
| Other Current Liabilities | $18M |
| TOTAL CURRENT LIABILITIES | $69M |
| Long-Term Debt | $31M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $42M |
| TOTAL NON-CURRENT LIABILITIES | $110M |
| TOTAL LIABILITIES | $179M |
| Common Stock | $242M |
| Additional Paid-In Capital | $30M |
| Retained Earnings | -$189M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$18M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $65M |
| Minority Interest | $10M |
| TOTAL EQUITY | $75M |
| TOTAL LIABILITIES & EQUITY | $254M |
| Total Debt | $82M |
| Net Debt | $48M |
