| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $69M | $71M | $69M | -3.6% | -0.3% |
| Op. Income | $9M | -$5M | -$6M | 281.7% | 268.7% |
| Gross Margin | 55.2% | 55.2% | 55.4% | 0.0pp | -0.2pp |
| Net Margin | -18.5% | -23.7% | -28.2% | 5.2pp | 9.7pp |
| EPS (Diluted) | $-0.64 | $-0.86 | $-1.00 | 25.6% | 36.0% |
| Free Cash Flow | $879.0K | $1M | $973.0K | -34.2% | -9.7% |
| Item | Amount |
|---|---|
| REVENUE | $69M |
| Cost of Revenue | $31M |
| GROSS PROFIT | $38M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $28M |
| Other Expenses | $0 |
| Operating Expenses | $28M |
| Cost & Expenses | $59M |
| OPERATING INCOME | $9M |
| Interest Income | $159.0K |
| Interest Expense | $7M |
| Other Income/Expenses | -$27M |
| INCOME BEFORE TAX | -$17M |
| Income Tax Expense | -$5M |
| Net Income from Continuing Ops | -$13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$13M |
| D&A | $14M |
| EBIT | -$10M |
| EBITDA | $4M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$13M |
| Depreciation & Amortization | $14M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $70.0K |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $1M |
| Capital Expenditure | -$184.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$463.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$70.0K |
| NET CASH FROM FINANCING | -$533.0K |
| FREE CASH FLOW | $879.0K |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $19M |
| Short-Term Investments | $0 |
| Net Receivables | $50M |
| Inventory | $7M |
| Other Current Assets | $872.0K |
| TOTAL CURRENT ASSETS | $82M |
| PP&E (Net) | $14M |
| Goodwill | $229M |
| Intangible Assets | $94M |
| Long-Term Investments | $308.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $341M |
| TOTAL ASSETS | $423M |
| Account Payables | $17M |
| Short-Term Debt | $3M |
| Deferred Revenue | $9M |
| Other Current Liabilities | $31M |
| TOTAL CURRENT LIABILITIES | $69M |
| Long-Term Debt | $439M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $860.0K |
| Other Non-Current Liabilities | $54M |
| TOTAL NON-CURRENT LIABILITIES | $500M |
| TOTAL LIABILITIES | $569M |
| Common Stock | $8.0K |
| Additional Paid-In Capital | $470M |
| Retained Earnings | -$606M |
| Treasury Stock | -$3M |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$146M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$146M |
| TOTAL LIABILITIES & EQUITY | $423M |
| Total Debt | $448M |
| Net Debt | $429M |
