| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $81M | $82M | $163M | -2.1% | -50.5% |
| Op. Income | $23M | $19M | $110M | 22.5% | -78.8% |
| Gross Margin | 37.4% | 42.4% | 72.0% | -4.9pp | -34.5pp |
| Net Margin | 26.5% | 11.4% | 61.3% | 15.0pp | -34.8pp |
| EPS (Diluted) | $0.50 | $0.22 | $2.47 | 127.3% | -79.8% |
| Free Cash Flow | $21M | $56M | $70M | -61.6% | -69.4% |
| Item | Amount |
|---|---|
| REVENUE | $81M |
| Cost of Revenue | $50M |
| GROSS PROFIT | $30M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $7M |
| SG&A Expenses | $7M |
| Other Expenses | -$655.4K |
| Operating Expenses | $7M |
| Cost & Expenses | $57M |
| OPERATING INCOME | $23M |
| Interest Income | $4M |
| Interest Expense | $9M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $21M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $21M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $21M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $21M |
| D&A | $17M |
| EBIT | $30M |
| EBITDA | $48M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $81M |
| Cost of Revenue | $50M |
| GROSS PROFIT | $30M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $7M |
| SG&A Expenses | $7M |
| Other Expenses | -$655.4K |
| Operating Expenses | $7M |
| Cost & Expenses | $57M |
| OPERATING INCOME | $23M |
| Interest Income | $4M |
| Interest Expense | $9M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $21M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $21M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $21M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $21M |
| D&A | $17M |
| EBIT | $30M |
| EBITDA | $48M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $21M |
| Depreciation & Amortization | $17M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$19M |
| OPERATING CASH FLOW | $24M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$213.6K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$13M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$43M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$56M |
| FREE CASH FLOW | $21M |
| Net Change in Cash | -$35M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $315M |
| Short-Term Investments | $10M |
| Net Receivables | $75M |
| Inventory | $2M |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $415M |
| PP&E (Net) | $1.4B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $48M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $1.8B |
| Account Payables | $9M |
| Short-Term Debt | $54M |
| Deferred Revenue | $695.5K |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $105M |
| Long-Term Debt | $512M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $647M |
| TOTAL LIABILITIES | $752M |
| Common Stock | $542.9K |
| Additional Paid-In Capital | $866M |
| Retained Earnings | $333M |
| Treasury Stock | -$131M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $734M |
| Net Debt | $419M |
