| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $15M | $15M | $22M | -1.5% | -32.5% |
| Op. Income | $5M | $11M | $9M | -52.1% | -40.0% |
| Gross Margin | 48.4% | 83.5% | 46.6% | -35.1pp | 1.9pp |
| Net Margin | 22.1% | 23.7% | 25.4% | -1.6pp | -3.3pp |
| EPS (Diluted) | $0.09 | $0.10 | $0.16 | -6.5% | -41.6% |
| Free Cash Flow | -$6M | -$11M | $387.0K | 47.9% | -1539.0% |
| Item | Amount |
|---|---|
| REVENUE | $15M |
| Cost of Revenue | $8M |
| GROSS PROFIT | $7M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $10M |
| OPERATING INCOME | $5M |
| Interest Income | $5.1K |
| Interest Expense | $1M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | $734.1K |
| Net Income from Continuing Ops | $3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3M |
| D&A | $5M |
| EBIT | $5M |
| EBITDA | $10M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $15M |
| Cost of Revenue | $8M |
| GROSS PROFIT | $7M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $2M |
| Other Expenses | $0 |
| Operating Expenses | $2M |
| Cost & Expenses | $10M |
| OPERATING INCOME | $5M |
| Interest Income | $5.1K |
| Interest Expense | $1M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | $734.1K |
| Net Income from Continuing Ops | $3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3M |
| D&A | $5M |
| EBIT | $5M |
| EBITDA | $10M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $3M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $733.3K |
| Other Non-Cash Items | $1M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | $13M |
| Capital Expenditure | -$19M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $3M |
| NET CASH FROM INVESTING | -$15M |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | -$162.8K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$364.7K |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$6M |
| Net Change in Cash | -$158.2K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3M |
| Short-Term Investments | $0 |
| Net Receivables | $8M |
| Inventory | $0 |
| Other Current Assets | $1M |
| TOTAL CURRENT ASSETS | $12M |
| PP&E (Net) | $281M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $281M |
| TOTAL ASSETS | $293M |
| Account Payables | $23M |
| Short-Term Debt | $1M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $25M |
| Long-Term Debt | $49M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $14M |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $65M |
| TOTAL LIABILITIES | $90M |
| Common Stock | $294M |
| Additional Paid-In Capital | $26M |
| Retained Earnings | -$116M |
| Treasury Stock | -$201.6K |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $204M |
| Minority Interest | $0 |
| TOTAL EQUITY | $204M |
| TOTAL LIABILITIES & EQUITY | $293M |
| Total Debt | $50M |
| Net Debt | $48M |
