| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $122M | $115M | $86M | 5.8% | 41.7% |
| Op. Income | $22M | $20M | $17M | 8.5% | 25.3% |
| Gross Margin | 41.0% | 40.9% | 39.3% | 0.2pp | 1.7pp |
| Net Margin | 6.3% | 5.9% | 5.0% | 0.4pp | 1.3pp |
| EPS (Diluted) | $0.06 | $0.05 | $0.03 | 12.5% | 77.8% |
| Free Cash Flow | -$7M | -$21M | $5M | 67.4% | -228.5% |
| Item | Amount |
|---|---|
| REVENUE | $122M |
| Cost of Revenue | $72M |
| GROSS PROFIT | $50M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $20M |
| SG&A Expenses | $20M |
| Other Expenses | $8M |
| Operating Expenses | $28M |
| Cost & Expenses | $100M |
| OPERATING INCOME | $22M |
| Interest Income | $0 |
| Interest Expense | $10M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | $12M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $10M |
| EBIT | $22M |
| EBITDA | $32M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $122M |
| Cost of Revenue | $72M |
| GROSS PROFIT | $50M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $20M |
| SG&A Expenses | $20M |
| Other Expenses | $8M |
| Operating Expenses | $28M |
| Cost & Expenses | $100M |
| OPERATING INCOME | $22M |
| Interest Income | $0 |
| Interest Expense | $10M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | $12M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $10M |
| EBIT | $22M |
| EBITDA | $32M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $8M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $6M |
| Other Non-Cash Items | $215.0K |
| Change in Working Capital | -$25M |
| OPERATING CASH FLOW | $131.0K |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$7M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$2M |
| FREE CASH FLOW | -$7M |
| Net Change in Cash | -$9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $19M |
| Short-Term Investments | $0 |
| Net Receivables | $217M |
| Inventory | $15M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $261M |
| PP&E (Net) | $154M |
| Goodwill | $302M |
| Intangible Assets | $245M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $708M |
| TOTAL ASSETS | $968M |
| Account Payables | $33M |
| Short-Term Debt | $3M |
| Deferred Revenue | $19M |
| Other Current Liabilities | $4M |
| TOTAL CURRENT LIABILITIES | $91M |
| Long-Term Debt | $395M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $31M |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $508M |
| TOTAL LIABILITIES | $599M |
| Common Stock | $132.0K |
| Additional Paid-In Capital | $368M |
| Retained Earnings | $1M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $75.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $369M |
| Minority Interest | $0 |
| TOTAL EQUITY | $369M |
| TOTAL LIABILITIES & EQUITY | $968M |
| Total Debt | $484M |
| Net Debt | $465M |
