| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $136M | $181M | $106M | -24.9% | 28.2% |
| Op. Income | -$8M | $7M | -$43M | -211.6% | 80.9% |
| Gross Margin | 36.2% | 37.6% | 23.5% | -1.4pp | 12.7pp |
| Net Margin | -21.4% | 4.3% | -32.4% | -25.7pp | 11.0pp |
| EPS (Diluted) | $-2.83 | $0.76 | $-0.76 | -472.4% | -272.4% |
| Free Cash Flow | $19M | $67M | $14M | -71.2% | 42.4% |
| Item | Amount |
|---|---|
| REVENUE | $136M |
| Cost of Revenue | $87M |
| GROSS PROFIT | $49M |
| R&D Expenses | $9M |
| Selling & Marketing | $32M |
| General & Administrative | $16M |
| SG&A Expenses | $48M |
| Other Expenses | $0 |
| Operating Expenses | $57M |
| Cost & Expenses | $144M |
| OPERATING INCOME | -$8M |
| Interest Income | $1M |
| Interest Expense | $60.0K |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$5M |
| Income Tax Expense | $24M |
| Net Income from Continuing Ops | -$29M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$29M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$29M |
| D&A | $5M |
| EBIT | -$5M |
| EBITDA | $378.0K |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$29M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $522.0K |
| Deferred Income Tax | $22M |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $22M |
| OPERATING CASH FLOW | $23M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $2M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$33.0K |
| Common Dividends Paid | -$3M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | $19M |
| Net Change in Cash | $18M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $176M |
| Short-Term Investments | $0 |
| Net Receivables | $50M |
| Inventory | $171M |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $409M |
| PP&E (Net) | $140M |
| Goodwill | $10M |
| Intangible Assets | $10M |
| Long-Term Investments | $0 |
| Tax Assets | $3M |
| Other Non-Current Assets | $32M |
| TOTAL NON-CURRENT ASSETS | $195M |
| TOTAL ASSETS | $604M |
| Account Payables | $40M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $105M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | $39M |
| TOTAL NON-CURRENT LIABILITIES | $81M |
| TOTAL LIABILITIES | $186M |
| Common Stock | $521.0K |
| Additional Paid-In Capital | $92M |
| Retained Earnings | $322M |
| Treasury Stock | -$3M |
| Accum. Other Comp. Income | $7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $418M |
| Minority Interest | $0 |
| TOTAL EQUITY | $418M |
| TOTAL LIABILITIES & EQUITY | $604M |
| Total Debt | $49M |
| Net Debt | -$128M |
