| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $290M | $269M | $266M | 7.8% | 9.0% |
| Op. Income | $24M | $19M | -$8M | 26.3% | 400.0% |
| Gross Margin | 23.1% | 25.3% | 19.2% | -2.2pp | 3.9pp |
| Net Margin | -37.2% | 4.8% | 9.8% | -42.1pp | -47.0pp |
| EPS (Diluted) | $-1.22 | $-0.08 | $0.25 | -1464.1% | -588.0% |
| Free Cash Flow | $483M | $17M | -$13M | 2741.2% | 3815.4% |
| Item | Amount |
|---|---|
| REVENUE | $290M |
| Cost of Revenue | $223M |
| GROSS PROFIT | $67M |
| R&D Expenses | $8M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $47M |
| Other Expenses | -$12M |
| Operating Expenses | $43M |
| Cost & Expenses | $266M |
| OPERATING INCOME | $24M |
| Interest Income | $3M |
| Interest Expense | $15M |
| Other Income/Expenses | -$123M |
| INCOME BEFORE TAX | -$99M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | -$108M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$108M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$109M |
| D&A | $8M |
| EBIT | $12M |
| EBITDA | -$1M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$108M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $558M |
| Change in Working Capital | $28M |
| OPERATING CASH FLOW | $489M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | -$306M |
| Common Stock Repurchased | -$5M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$311M |
| FREE CASH FLOW | $483M |
| Net Change in Cash | $171M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $337M |
| Short-Term Investments | $0 |
| Net Receivables | $152M |
| Inventory | $218M |
| Other Current Assets | $134M |
| TOTAL CURRENT ASSETS | $841M |
| PP&E (Net) | $239M |
| Goodwill | $12M |
| Intangible Assets | $17M |
| Long-Term Investments | $110M |
| Tax Assets | $0 |
| Other Non-Current Assets | $438M |
| TOTAL NON-CURRENT ASSETS | $816M |
| TOTAL ASSETS | $1.7B |
| Account Payables | $101M |
| Short-Term Debt | $12M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $155M |
| TOTAL CURRENT LIABILITIES | $268M |
| Long-Term Debt | $207M |
| Deferred Revenue NC | $52M |
| Deferred Tax Liabilities | $68M |
| Other Non-Current Liabilities | $318M |
| TOTAL NON-CURRENT LIABILITIES | $676M |
| TOTAL LIABILITIES | $944M |
| Common Stock | $1M |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$521M |
| Treasury Stock | -$26M |
| Accum. Other Comp. Income | -$118M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $713M |
| Minority Interest | $0 |
| TOTAL EQUITY | $713M |
| TOTAL LIABILITIES & EQUITY | $1.7B |
| Total Debt | $250M |
| Net Debt | -$87M |
