| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $110M | $112M | $133M | -1.3% | -17.1% |
| Op. Income | -$2M | -$459.0K | $117.0K | -401.5% | -2067.5% |
| Gross Margin | 6.2% | 7.7% | 6.9% | -1.5pp | -0.7pp |
| Net Margin | -3.6% | -0.5% | -1.5% | -3.0pp | -2.1pp |
| EPS (Diluted) | $-0.36 | $-0.06 | $-0.18 | -541.7% | -100.0% |
| Free Cash Flow | $8M | -$4M | $7M | 313.8% | 8.4% |
| Item | Amount |
|---|---|
| REVENUE | $110M |
| Cost of Revenue | $104M |
| GROSS PROFIT | $7M |
| R&D Expenses | $2M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $7M |
| Other Expenses | $0 |
| Operating Expenses | $9M |
| Cost & Expenses | $113M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$5M |
| Income Tax Expense | -$1M |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $2M |
| EBIT | -$2M |
| EBITDA | -$648.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $109.0K |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $11M |
| OPERATING CASH FLOW | $9M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$104.0K |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | -$8M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$292.0K |
| NET CASH FROM FINANCING | -$9M |
| FREE CASH FLOW | $8M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1M |
| Short-Term Investments | $0 |
| Net Receivables | $114M |
| Inventory | $97M |
| Other Current Assets | $22M |
| TOTAL CURRENT ASSETS | $234M |
| PP&E (Net) | $39M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $23M |
| Other Non-Current Assets | $19M |
| TOTAL NON-CURRENT ASSETS | $82M |
| TOTAL ASSETS | $316M |
| Account Payables | $64M |
| Short-Term Debt | $12M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $8M |
| TOTAL CURRENT LIABILITIES | $92M |
| Long-Term Debt | $99M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $107M |
| TOTAL LIABILITIES | $199M |
| Common Stock | $48M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $69M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $117M |
| Minority Interest | $0 |
| TOTAL EQUITY | $117M |
| TOTAL LIABILITIES & EQUITY | $316M |
| Total Debt | $118M |
| Net Debt | $117M |
