| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $73M | $79M | $64M | -7.5% | 14.0% |
| Op. Income | -$4M | $1M | -$1M | -351.4% | -149.7% |
| Gross Margin | 8.2% | 13.7% | 11.4% | -5.5pp | -3.3pp |
| Net Margin | -4.2% | 2.9% | -1.5% | -7.0pp | -2.7pp |
| EPS (Diluted) | $-0.25 | $0.18 | $-0.08 | -238.9% | -196.9% |
| Free Cash Flow | -$13M | -$182.0K | -$7M | -7180.8% | -88.0% |
| Item | Amount |
|---|---|
| REVENUE | $73M |
| Cost of Revenue | $67M |
| GROSS PROFIT | $6M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $129.0K |
| Operating Expenses | $10M |
| Cost & Expenses | $77M |
| OPERATING INCOME | -$4M |
| Interest Income | $674.0K |
| Interest Expense | $18.0K |
| Other Income/Expenses | $656.0K |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | $36.0K |
| 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 | $4M |
| EBIT | -$3M |
| EBITDA | $1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $62.0K |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | $575.0K |
| Capital Expenditure | -$14M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$18M |
| Sales/Maturities of Investments | $20M |
| Other Investing Activities | -$83.0K |
| NET CASH FROM INVESTING | -$13M |
| Net Debt Issuance | -$68.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$45.0K |
| FREE CASH FLOW | -$13M |
| Net Change in Cash | -$12M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $35M |
| Short-Term Investments | $15M |
| Net Receivables | $6M |
| Inventory | $2M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $65M |
| PP&E (Net) | $344M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $28M |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $379M |
| TOTAL ASSETS | $444M |
| Account Payables | $10M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $40M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $174M |
| TOTAL LIABILITIES | $214M |
| Common Stock | $12.0K |
| Additional Paid-In Capital | $267M |
| Retained Earnings | -$38M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $17.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $229M |
| Minority Interest | $0 |
| TOTAL EQUITY | $229M |
| TOTAL LIABILITIES & EQUITY | $444M |
| Total Debt | $187M |
| Net Debt | $152M |
