| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $165M | $155M | $135M | 6.2% | 22.3% |
| Op. Income | $32M | $16M | -$7M | 106.1% | 577.5% |
| Gross Margin | 25.0% | 16.4% | 4.5% | 8.5pp | 20.5pp |
| Net Margin | 9.8% | 4.6% | -6.8% | 5.2pp | 16.6pp |
| EPS (Diluted) | $0.22 | $0.10 | $-0.13 | 122.2% | 269.2% |
| Free Cash Flow | $74M | $36M | -$24M | 108.7% | 406.5% |
| Item | Amount |
|---|---|
| REVENUE | $165M |
| Cost of Revenue | $124M |
| GROSS PROFIT | $41M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $11M |
| Other Expenses | -$2M |
| Operating Expenses | $9M |
| Cost & Expenses | $133M |
| OPERATING INCOME | $32M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$11M |
| INCOME BEFORE TAX | $21M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $16M |
| D&A | $22M |
| EBIT | $28M |
| EBITDA | $50M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $165M |
| Cost of Revenue | $124M |
| GROSS PROFIT | $41M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $11M |
| Other Expenses | -$2M |
| Operating Expenses | $9M |
| Cost & Expenses | $133M |
| OPERATING INCOME | $32M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$11M |
| INCOME BEFORE TAX | $21M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $16M |
| D&A | $22M |
| EBIT | $28M |
| EBITDA | $50M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $16M |
| Depreciation & Amortization | $22M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $5M |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$30M |
| OPERATING CASH FLOW | $18M |
| Capital Expenditure | $56M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$79M |
| Sales/Maturities of Investments | -$211M |
| Other Investing Activities | $208M |
| NET CASH FROM INVESTING | -$25M |
| Net Debt Issuance | $52M |
| Common Stock Repurchased | $1M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$54M |
| NET CASH FROM FINANCING | -$973.0K |
| FREE CASH FLOW | $74M |
| Net Change in Cash | -$8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $20M |
| Short-Term Investments | $129M |
| Net Receivables | $57M |
| Inventory | $66M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $293M |
| PP&E (Net) | $879M |
| Goodwill | $0 |
| Intangible Assets | $1M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $880M |
| TOTAL ASSETS | $1.2B |
| Account Payables | $65M |
| Short-Term Debt | $11M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $106M |
| Long-Term Debt | $440M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $70M |
| Other Non-Current Liabilities | $535.0K |
| TOTAL NON-CURRENT LIABILITIES | $548M |
| TOTAL LIABILITIES | $654M |
| Common Stock | $9M |
| Additional Paid-In Capital | $507M |
| Retained Earnings | $232M |
| Treasury Stock | -$228M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $520M |
| Minority Interest | $0 |
| TOTAL EQUITY | $520M |
| TOTAL LIABILITIES & EQUITY | $1.2B |
| Total Debt | $489M |
| Net Debt | $470M |
