| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $84M | $76M | $114M | 11.0% | -26.4% |
| Op. Income | $16M | $15M | $55M | 6.1% | -71.9% |
| Gross Margin | 37.8% | 29.4% | 57.1% | 8.4pp | -19.2pp |
| Net Margin | 12.0% | 10.7% | 44.9% | 1.3pp | -32.9pp |
| EPS (Diluted) | $0.24 | $0.19 | $1.25 | 26.3% | -80.8% |
| Free Cash Flow | -$2M | $37M | $40M | -106.1% | -105.6% |
| Item | Amount |
|---|---|
| REVENUE | $84M |
| Cost of Revenue | $52M |
| GROSS PROFIT | $32M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $17M |
| SG&A Expenses | $17M |
| Other Expenses | -$645.4K |
| Operating Expenses | $16M |
| Cost & Expenses | $69M |
| OPERATING INCOME | $16M |
| Interest Income | $3M |
| Interest Expense | $8M |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | $10M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $10M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $10M |
| D&A | $18M |
| EBIT | $18M |
| EBITDA | $36M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $84M |
| Cost of Revenue | $52M |
| GROSS PROFIT | $32M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $17M |
| SG&A Expenses | $17M |
| Other Expenses | -$645.4K |
| Operating Expenses | $16M |
| Cost & Expenses | $69M |
| OPERATING INCOME | $16M |
| Interest Income | $3M |
| Interest Expense | $8M |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | $10M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $10M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $10M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $10M |
| D&A | $18M |
| EBIT | $18M |
| EBITDA | $36M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $10M |
| Depreciation & Amortization | $18M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $6M |
| Change in Working Capital | -$35M |
| OPERATING CASH FLOW | $814.5K |
| 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 | -$14M |
| Common Stock Repurchased | -$2M |
| Common Dividends Paid | -$21M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$37M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | -$39M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $278M |
| Short-Term Investments | $0 |
| Net Receivables | $76M |
| Inventory | $2M |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $372M |
| PP&E (Net) | $1.3B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $53M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $1.7B |
| Account Payables | $14M |
| Short-Term Debt | $54M |
| Deferred Revenue | $620.1K |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $112M |
| Long-Term Debt | $485M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $602M |
| TOTAL LIABILITIES | $714M |
| Common Stock | $543.2K |
| Additional Paid-In Capital | $869M |
| Retained Earnings | $300M |
| Treasury Stock | -$135M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.0B |
| TOTAL LIABILITIES & EQUITY | $1.7B |
| Total Debt | $690M |
| Net Debt | $412M |
