| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $294M | $274M | $209M | 7.3% | 41.0% |
| Op. Income | $12M | $28M | $19M | -59.0% | -37.7% |
| Gross Margin | 19.0% | 22.3% | 22.7% | -3.3pp | -3.7pp |
| Net Margin | 6.0% | 7.3% | 10.4% | -1.3pp | -4.5pp |
| EPS (Diluted) | $0.13 | $0.16 | $0.18 | -18.8% | -27.8% |
| Free Cash Flow | -$12M | $4M | $164M | -381.7% | -107.4% |
| Item | Amount |
|---|---|
| REVENUE | $294M |
| Cost of Revenue | $238M |
| GROSS PROFIT | $56M |
| R&D Expenses | $21M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $24M |
| Other Expenses | $0 |
| Operating Expenses | $44M |
| Cost & Expenses | $283M |
| OPERATING INCOME | $12M |
| Interest Income | $1M |
| Interest Expense | $4M |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | $16M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $18M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $18M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $18M |
| D&A | $31M |
| EBIT | $12M |
| EBITDA | $43M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $294M |
| Cost of Revenue | $238M |
| GROSS PROFIT | $56M |
| R&D Expenses | $21M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $24M |
| Other Expenses | $0 |
| Operating Expenses | $44M |
| Cost & Expenses | $283M |
| OPERATING INCOME | $12M |
| Interest Income | $1M |
| Interest Expense | $4M |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | $16M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $18M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $18M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $18M |
| D&A | $31M |
| EBIT | $12M |
| EBITDA | $43M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $18M |
| Depreciation & Amortization | $31M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $8M |
| Change in Working Capital | -$33M |
| OPERATING CASH FLOW | $24M |
| Capital Expenditure | -$36M |
| Acquisitions (Net) | -$258M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$308M |
| Net Debt Issuance | -$45M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$10M |
| NET CASH FROM FINANCING | -$46M |
| FREE CASH FLOW | -$12M |
| Net Change in Cash | -$349M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $141M |
| Short-Term Investments | $0 |
| Net Receivables | $365M |
| Inventory | $13M |
| Other Current Assets | $49M |
| TOTAL CURRENT ASSETS | $567M |
| PP&E (Net) | $501M |
| Goodwill | $587M |
| Intangible Assets | $623M |
| Long-Term Investments | $0 |
| Tax Assets | $6M |
| Other Non-Current Assets | $214M |
| TOTAL NON-CURRENT ASSETS | $1.9B |
| TOTAL ASSETS | $2.5B |
| Account Payables | $263M |
| Short-Term Debt | $15M |
| Deferred Revenue | $689M |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $1.0B |
| Long-Term Debt | $208M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $189M |
| Other Non-Current Liabilities | $37M |
| TOTAL NON-CURRENT LIABILITIES | $521M |
| TOTAL LIABILITIES | $1.5B |
| Common Stock | $748M |
| Additional Paid-In Capital | $20M |
| Retained Earnings | $160M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $25M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $954M |
| Minority Interest | $0 |
| TOTAL EQUITY | $954M |
| TOTAL LIABILITIES & EQUITY | $2.5B |
| Total Debt | $310M |
| Net Debt | $169M |
