| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $167M | $159M | $189M | 4.8% | -11.8% |
| Op. Income | -$3M | -$9M | $1M | 65.5% | -372.7% |
| Gross Margin | 21.7% | 6.1% | 24.7% | 15.6pp | -3.0pp |
| Net Margin | -8.6% | -12.5% | -4.3% | 3.9pp | -4.2pp |
| EPS (Diluted) | $-0.74 | $-1.04 | $-0.51 | 28.8% | -45.1% |
| Free Cash Flow | $2M | $6M | -$4M | -76.6% | 140.5% |
| Item | Amount |
|---|---|
| REVENUE | $167M |
| Cost of Revenue | $131M |
| GROSS PROFIT | $36M |
| R&D Expenses | $400.0K |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $16M |
| Other Expenses | $23M |
| Operating Expenses | $39M |
| Cost & Expenses | $170M |
| OPERATING INCOME | -$3M |
| Interest Income | $0 |
| Interest Expense | $11M |
| Other Income/Expenses | -$11M |
| INCOME BEFORE TAX | -$14M |
| Income Tax Expense | $200.0K |
| Net Income from Continuing Ops | -$14M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$14M |
| D&A | $23M |
| EBIT | -$3M |
| EBITDA | $20M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$14M |
| Depreciation & Amortization | $23M |
| Stock-Based Compensation | $600.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$100.0K |
| OPERATING CASH FLOW | $14M |
| Capital Expenditure | -$12M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $4M |
| NET CASH FROM INVESTING | -$8M |
| Net Debt Issuance | -$16M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | -$15M |
| FREE CASH FLOW | $2M |
| Net Change in Cash | -$9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $8M |
| Short-Term Investments | $0 |
| Net Receivables | $111M |
| Inventory | $33M |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $164M |
| PP&E (Net) | $186M |
| Goodwill | $0 |
| Intangible Assets | $1M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $194M |
| TOTAL ASSETS | $358M |
| Account Payables | $71M |
| Short-Term Debt | $7M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $137M |
| Long-Term Debt | $255M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $800.0K |
| TOTAL NON-CURRENT LIABILITIES | $281M |
| TOTAL LIABILITIES | $419M |
| Common Stock | $200.0K |
| Additional Paid-In Capital | $569M |
| Retained Earnings | -$625M |
| Treasury Stock | -$6M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$61M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$60M |
| TOTAL LIABILITIES & EQUITY | $358M |
| Total Debt | $315M |
| Net Debt | $306M |
