| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $18M | — | $34M | — | -46.9% |
| Op. Income | -$10M | — | -$5M | — | -96.0% |
| Gross Margin | -33.6% | — | -1.1% | — | -32.6pp |
| Net Margin | -51.8% | — | -9.0% | — | -42.8pp |
| EPS (Diluted) | $-0.53 | — | $-0.18 | — | -194.4% |
| Free Cash Flow | -$15M | — | -$17M | — | 13.2% |
| Item | Amount |
|---|---|
| REVENUE | $18M |
| Cost of Revenue | $24M |
| GROSS PROFIT | -$6M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $4M |
| Other Expenses | $0 |
| Operating Expenses | $4M |
| Cost & Expenses | $29M |
| OPERATING INCOME | -$10M |
| Interest Income | $8.0K |
| Interest Expense | $779.0K |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$12M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | -$9M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$9M |
| Net Income Deductions | $14.0K |
| BOTTOM LINE NET INCOME | -$10M |
| D&A | $2M |
| EBIT | -$10M |
| EBITDA | -$8M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$9M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$49.0K |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$12M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $13.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$414.0K |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | $17M |
| Common Stock Repurchased | -$423.0K |
| Common Dividends Paid | -$1M |
| Other Financing Activities | -$3.0K |
| NET CASH FROM FINANCING | $15M |
| FREE CASH FLOW | -$15M |
| Net Change in Cash | -$242.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1M |
| Short-Term Investments | $0 |
| Net Receivables | $20M |
| Inventory | $0 |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $26M |
| PP&E (Net) | $176M |
| Goodwill | $1M |
| Intangible Assets | $2M |
| Long-Term Investments | $100M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $282M |
| TOTAL ASSETS | $308M |
| Account Payables | $9M |
| Short-Term Debt | $835.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $13M |
| TOTAL CURRENT LIABILITIES | $22M |
| Long-Term Debt | $90M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $13M |
| Other Non-Current Liabilities | $889.0K |
| TOTAL NON-CURRENT LIABILITIES | $104M |
| TOTAL LIABILITIES | $127M |
| Common Stock | $181.0K |
| Additional Paid-In Capital | $171M |
| Retained Earnings | -$12M |
| Treasury Stock | -$3M |
| Accum. Other Comp. Income | -$5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $161M |
| Minority Interest | $19M |
| TOTAL EQUITY | $181M |
| TOTAL LIABILITIES & EQUITY | $308M |
| Total Debt | $92M |
| Net Debt | $91M |
