| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $121M | $153M | $167M | -20.9% | -27.7% |
| Op. Income | -$14M | -$14M | $2M | -4.6% | -1008.5% |
| Gross Margin | 1.4% | 0.9% | 19.5% | 0.5pp | -18.1pp |
| Net Margin | -11.0% | -9.1% | -0.1% | -1.9pp | -10.9pp |
| EPS (Diluted) | $-0.16 | $-0.17 | $-0.00 | 6.9% | -5769.6% |
| Free Cash Flow | -$18M | -$20M | $20M | 11.5% | -189.5% |
| Item | Amount |
|---|---|
| REVENUE | $121M |
| Cost of Revenue | $119M |
| GROSS PROFIT | $2M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $16M |
| Other Expenses | $0 |
| Operating Expenses | $16M |
| Cost & Expenses | $135M |
| OPERATING INCOME | -$14M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$17M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | -$13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$13M |
| D&A | $17M |
| EBIT | -$14M |
| EBITDA | $3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$13M |
| Depreciation & Amortization | $17M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | -$3M |
| Other Non-Cash Items | $1M |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | -$1M |
| Capital Expenditure | -$16M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$20M |
| Net Debt Issuance | $6M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$8M |
| NET CASH FROM FINANCING | $187M |
| FREE CASH FLOW | -$18M |
| Net Change in Cash | $166M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $194M |
| Short-Term Investments | $0 |
| Net Receivables | $44M |
| Inventory | $82M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $329M |
| PP&E (Net) | $509M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $12M |
| TOTAL NON-CURRENT ASSETS | $521M |
| TOTAL ASSETS | $850M |
| Account Payables | $42M |
| Short-Term Debt | $9M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $60M |
| TOTAL CURRENT LIABILITIES | $111M |
| Long-Term Debt | $116M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $46M |
| Other Non-Current Liabilities | $39M |
| TOTAL NON-CURRENT LIABILITIES | $212M |
| TOTAL LIABILITIES | $323M |
| Common Stock | $549.0K |
| Additional Paid-In Capital | $509M |
| Retained Earnings | $17M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $527M |
| Minority Interest | $0 |
| TOTAL EQUITY | $527M |
| TOTAL LIABILITIES & EQUITY | $850M |
| Total Debt | $136M |
| Net Debt | -$57M |
