| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $99M | $110M | $132M | -10.6% | -24.9% |
| Op. Income | -$584.0K | -$2M | $4M | 74.6% | -113.1% |
| Gross Margin | 8.4% | 6.2% | 10.1% | 2.2pp | -1.8pp |
| Net Margin | -2.3% | -3.6% | 0.9% | 1.3pp | -3.1pp |
| EPS (Diluted) | $-0.21 | $-0.36 | $0.10 | 41.7% | -310.0% |
| Free Cash Flow | $4M | $8M | $10M | -42.8% | -53.8% |
| Item | Amount |
|---|---|
| REVENUE | $99M |
| Cost of Revenue | $90M |
| GROSS PROFIT | $8M |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $7M |
| Other Expenses | $0 |
| Operating Expenses | $9M |
| Cost & Expenses | $99M |
| OPERATING INCOME | -$584.0K |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | -$1M |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $2M |
| EBIT | -$584.0K |
| EBITDA | $2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $221.0K |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | $8M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$5M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$33.0K |
| NET CASH FROM FINANCING | -$5M |
| FREE CASH FLOW | $4M |
| Net Change in Cash | -$261.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1M |
| Short-Term Investments | $0 |
| Net Receivables | $102M |
| Inventory | $98M |
| Other Current Assets | $18M |
| TOTAL CURRENT ASSETS | $219M |
| PP&E (Net) | $58M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $25M |
| Other Non-Current Assets | $23M |
| TOTAL NON-CURRENT ASSETS | $106M |
| TOTAL ASSETS | $325M |
| Account Payables | $61M |
| Short-Term Debt | $6M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $18M |
| TOTAL CURRENT LIABILITIES | $92M |
| Long-Term Debt | $95M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $4.0K |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $118M |
| TOTAL LIABILITIES | $210M |
| Common Stock | $48M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $66M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $729.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $115M |
| Minority Interest | $0 |
| TOTAL EQUITY | $115M |
| TOTAL LIABILITIES & EQUITY | $325M |
| Total Debt | $121M |
| Net Debt | $120M |
