| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $203M | $217M | $229M | -6.7% | -11.3% |
| Op. Income | $43M | $28M | $34M | 52.9% | 26.9% |
| Gross Margin | 38.2% | 27.5% | 29.3% | 10.7pp | 9.0pp |
| Net Margin | 7.0% | 7.5% | 3.0% | -0.4pp | 4.0pp |
| EPS (Diluted) | $0.32 | $0.00 | $0.00 | Infinity% | Infinity% |
| Free Cash Flow | $56M | $31M | $33M | 79.2% | 71.9% |
| Item | Amount |
|---|---|
| REVENUE | $203M |
| Cost of Revenue | $125M |
| GROSS PROFIT | $78M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $33M |
| Other Expenses | $0 |
| Operating Expenses | $34M |
| Cost & Expenses | $160M |
| OPERATING INCOME | $43M |
| Interest Income | $0 |
| Interest Expense | $17M |
| Other Income/Expenses | -$17M |
| INCOME BEFORE TAX | $26M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $14M |
| D&A | $11M |
| EBIT | $43M |
| EBITDA | $54M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $203M |
| Cost of Revenue | $125M |
| GROSS PROFIT | $78M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $33M |
| Other Expenses | $0 |
| Operating Expenses | $34M |
| Cost & Expenses | $160M |
| OPERATING INCOME | $43M |
| Interest Income | $0 |
| Interest Expense | $17M |
| Other Income/Expenses | -$17M |
| INCOME BEFORE TAX | $26M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $14M |
| D&A | $11M |
| EBIT | $43M |
| EBITDA | $54M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $14M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $3M |
| Other Non-Cash Items | $6M |
| Change in Working Capital | $26M |
| OPERATING CASH FLOW | $59M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | -$4M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$10M |
| Net Debt Issuance | -$10M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$10M |
| FREE CASH FLOW | $56M |
| Net Change in Cash | $40M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $97M |
| Short-Term Investments | $0 |
| Net Receivables | $246M |
| Inventory | $254M |
| Other Current Assets | $33M |
| TOTAL CURRENT ASSETS | $629M |
| PP&E (Net) | $250M |
| Goodwill | $307M |
| Intangible Assets | $122M |
| Long-Term Investments | $34M |
| Tax Assets | $0 |
| Other Non-Current Assets | $16M |
| TOTAL NON-CURRENT ASSETS | $728M |
| TOTAL ASSETS | $1.4B |
| Account Payables | $56M |
| Short-Term Debt | $11M |
| Deferred Revenue | $35M |
| Other Current Liabilities | $70M |
| TOTAL CURRENT LIABILITIES | $224M |
| Long-Term Debt | $339M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $17M |
| Other Non-Current Liabilities | $37M |
| TOTAL NON-CURRENT LIABILITIES | $434M |
| TOTAL LIABILITIES | $657M |
| Common Stock | $0 |
| Additional Paid-In Capital | $610M |
| Retained Earnings | $84M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $699M |
| Minority Interest | $2M |
| TOTAL EQUITY | $700M |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $390M |
| Net Debt | $294M |
