| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $112M | $114M | $141M | -1.7% | -20.3% |
| Op. Income | -$459.0K | -$1M | -$575.0K | 59.1% | 20.2% |
| Gross Margin | 7.7% | 6.8% | 5.8% | 0.9pp | 1.9pp |
| Net Margin | -0.5% | -4.3% | -1.6% | 3.8pp | 1.0pp |
| EPS (Diluted) | $-0.06 | $-0.46 | $-0.21 | 87.8% | 73.3% |
| Free Cash Flow | -$4M | $1M | -$4M | -415.7% | 4.5% |
| Item | Amount |
|---|---|
| REVENUE | $112M |
| Cost of Revenue | $103M |
| GROSS PROFIT | $9M |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $7M |
| Other Expenses | $0 |
| Operating Expenses | $9M |
| Cost & Expenses | $112M |
| OPERATING INCOME | -$459.0K |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | -$604.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$604.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$604.0K |
| D&A | $2M |
| EBIT | -$459.0K |
| EBITDA | $2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$604.0K |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $26.0K |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$1M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$101.0K |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$4M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2M |
| Short-Term Investments | $0 |
| Net Receivables | $131M |
| Inventory | $99M |
| Other Current Assets | $20M |
| TOTAL CURRENT ASSETS | $253M |
| PP&E (Net) | $41M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $22M |
| Other Non-Current Assets | $14M |
| TOTAL NON-CURRENT ASSETS | $76M |
| TOTAL ASSETS | $329M |
| Account Payables | $65M |
| Short-Term Debt | $10M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $12M |
| TOTAL CURRENT LIABILITIES | $93M |
| Long-Term Debt | $109M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $5.0K |
| Other Non-Current Liabilities | $5.0K |
| TOTAL NON-CURRENT LIABILITIES | $116M |
| TOTAL LIABILITIES | $209M |
| Common Stock | $47M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $73M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$325.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $120M |
| Minority Interest | $0 |
| TOTAL EQUITY | $120M |
| TOTAL LIABILITIES & EQUITY | $329M |
| Total Debt | $126M |
| Net Debt | $124M |
