| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $143M | $141M | $119M | 1.0% | 19.7% |
| Op. Income | $17M | $6M | $11M | 168.0% | 54.4% |
| Gross Margin | 62.3% | 59.5% | 62.2% | 2.8pp | 0.1pp |
| Net Margin | 8.9% | 2.7% | 5.7% | 6.2pp | 3.2pp |
| EPS (Diluted) | $0.42 | $0.12 | $0.22 | 250.0% | 90.9% |
| Free Cash Flow | $25M | $2M | $6M | 1131.0% | 352.4% |
| Item | Amount |
|---|---|
| REVENUE | $143M |
| Cost of Revenue | $54M |
| GROSS PROFIT | $89M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $71M |
| Other Expenses | $926.0K |
| Operating Expenses | $72M |
| Cost & Expenses | $126M |
| OPERATING INCOME | $17M |
| Interest Income | $0 |
| Interest Expense | $889.0K |
| Other Income/Expenses | -$949.0K |
| INCOME BEFORE TAX | $16M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $13M |
| D&A | $7M |
| EBIT | $17M |
| EBITDA | $24M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $143M |
| Cost of Revenue | $54M |
| GROSS PROFIT | $89M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $71M |
| Other Expenses | $926.0K |
| Operating Expenses | $72M |
| Cost & Expenses | $126M |
| OPERATING INCOME | $17M |
| Interest Income | $0 |
| Interest Expense | $889.0K |
| Other Income/Expenses | -$949.0K |
| INCOME BEFORE TAX | $16M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $13M |
| D&A | $7M |
| EBIT | $17M |
| EBITDA | $24M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $13M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $16M |
| Change in Working Capital | $5M |
| OPERATING CASH FLOW | $44M |
| Capital Expenditure | -$19M |
| Acquisitions (Net) | $255.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$315.0K |
| NET CASH FROM INVESTING | -$19M |
| Net Debt Issuance | -$10M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$235.0K |
| NET CASH FROM FINANCING | -$10M |
| FREE CASH FLOW | $25M |
| Net Change in Cash | $15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $29M |
| Short-Term Investments | $0 |
| Net Receivables | $58M |
| Inventory | $4M |
| Other Current Assets | -$4M |
| TOTAL CURRENT ASSETS | $87M |
| PP&E (Net) | $351M |
| Goodwill | $11M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $22M |
| Other Non-Current Assets | $23M |
| TOTAL NON-CURRENT ASSETS | $406M |
| TOTAL ASSETS | $493M |
| Account Payables | $27M |
| Short-Term Debt | $11M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $63M |
| TOTAL CURRENT LIABILITIES | $101M |
| Long-Term Debt | $193M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $193M |
| TOTAL LIABILITIES | $293M |
| Common Stock | $48M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $99M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $52M |
| TOTAL STOCKHOLDERS' EQUITY | $200M |
| Minority Interest | $0 |
| TOTAL EQUITY | $200M |
| TOTAL LIABILITIES & EQUITY | $493M |
| Total Debt | $204M |
| Net Debt | $175M |
