| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $80M | $74M | $69M | 7.0% | 15.1% |
| Op. Income | $24M | $22M | $23M | 10.3% | 4.1% |
| Gross Margin | 48.4% | 44.6% | 46.9% | 3.8pp | 1.5pp |
| Net Margin | 13.0% | 24.2% | 64.7% | -11.1pp | -51.6pp |
| EPS (Diluted) | $0.65 | $1.18 | $3.38 | -44.9% | -80.8% |
| Free Cash Flow | -$43M | -$16M | -$36M | -171.6% | -19.9% |
| Item | Amount |
|---|---|
| REVENUE | $80M |
| Cost of Revenue | $41M |
| GROSS PROFIT | $39M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $15M |
| SG&A Expenses | $15M |
| Other Expenses | $0 |
| Operating Expenses | $15M |
| Cost & Expenses | $56M |
| OPERATING INCOME | $24M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | $13M |
| INCOME BEFORE TAX | $37M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | $40M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $10M |
| D&A | $28M |
| EBIT | $39M |
| EBITDA | $67M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $80M |
| Cost of Revenue | $41M |
| GROSS PROFIT | $39M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $15M |
| SG&A Expenses | $15M |
| Other Expenses | $0 |
| Operating Expenses | $15M |
| Cost & Expenses | $56M |
| OPERATING INCOME | $24M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | $13M |
| INCOME BEFORE TAX | $37M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | $40M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $10M |
| D&A | $28M |
| EBIT | $39M |
| EBITDA | $67M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $10M |
| Depreciation & Amortization | $28M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$4M |
| Other Non-Cash Items | $24M |
| Change in Working Capital | -$16M |
| OPERATING CASH FLOW | $42M |
| Capital Expenditure | -$85M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$85M |
| Net Debt Issuance | $41M |
| Common Stock Repurchased | -$8.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $41M |
| FREE CASH FLOW | -$43M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $0 |
| Net Receivables | $50M |
| Inventory | $0 |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $67M |
| PP&E (Net) | $1.0B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $416.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $11M |
| TOTAL NON-CURRENT ASSETS | $1.0B |
| TOTAL ASSETS | $1.1B |
| Account Payables | $68M |
| Short-Term Debt | $177.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $24M |
| TOTAL CURRENT LIABILITIES | $129M |
| Long-Term Debt | $75M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $10M |
| TOTAL NON-CURRENT LIABILITIES | $87M |
| TOTAL LIABILITIES | $216M |
| Common Stock | $608.0K |
| Additional Paid-In Capital | $312M |
| Retained Earnings | -$24M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $289M |
| Minority Interest | $608M |
| TOTAL EQUITY | $897M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $77M |
| Net Debt | $72M |
