| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $72M | $64M | $49M | 12.4% | 45.4% |
| Op. Income | $15M | $11M | $1M | 29.3% | 1016.4% |
| Gross Margin | 75.3% | 74.5% | 75.6% | 0.7pp | -0.3pp |
| Net Margin | 1.4% | 7.8% | -8.6% | -6.4pp | 10.0pp |
| EPS (Diluted) | $0.03 | $0.13 | $-0.12 | -79.8% | 121.8% |
| Free Cash Flow | $16M | -$969.0K | $2M | 1790.2% | 597.8% |
| Item | Amount |
|---|---|
| REVENUE | $72M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $54M |
| R&D Expenses | $3M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $36M |
| Operating Expenses | $39M |
| Cost & Expenses | $57M |
| OPERATING INCOME | $15M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | $1M |
| Income Tax Expense | $0 |
| NET INCOME | $1M |
| D&A | $5M |
| EBIT | $7M |
| EBITDA | $12M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $72M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $54M |
| R&D Expenses | $3M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $36M |
| Operating Expenses | $39M |
| Cost & Expenses | $57M |
| OPERATING INCOME | $15M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | $1M |
| Income Tax Expense | $0 |
| NET INCOME | $1M |
| D&A | $5M |
| EBIT | $7M |
| EBITDA | $12M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $1M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $9M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | $17M |
| Capital Expenditure | -$210.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$225.0K |
| Net Debt Issuance | $12M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$7M |
| NET CASH FROM FINANCING | $5M |
| FREE CASH FLOW | $16M |
| Net Change in Cash | $21M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $74M |
| Short-Term Investments | $0 |
| Net Receivables | $78M |
| Inventory | $13M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $178M |
| PP&E (Net) | $11M |
| Goodwill | $332.0K |
| Intangible Assets | $174M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $185M |
| TOTAL ASSETS | $363M |
| Account Payables | $19M |
| Short-Term Debt | $0 |
| Deferred Revenue | $345.0K |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $65M |
| Long-Term Debt | $243M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $251M |
| TOTAL LIABILITIES | $316M |
| Common Stock | $37.0K |
| Additional Paid-In Capital | $210M |
| Retained Earnings | -$163M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $47M |
| Minority Interest | -$355.0K |
| TOTAL EQUITY | $47M |
| TOTAL LIABILITIES & EQUITY | $363M |
| Total Debt | $252M |
| Net Debt | $178M |
