| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $273M | $211M | $249M | 29.2% | 9.9% |
| Op. Income | $24M | -$17M | -$8M | 235.8% | 395.6% |
| Gross Margin | 31.0% | 27.0% | 29.5% | 4.0pp | 1.6pp |
| Net Margin | 6.0% | -9.1% | -4.3% | 15.1pp | 10.3pp |
| EPS (Diluted) | $-0.33 | $-0.33 | $-0.19 | 0.0% | -73.7% |
| Free Cash Flow | $34M | $24M | $61M | 41.2% | -44.7% |
| Item | Amount |
|---|---|
| REVENUE | $273M |
| Cost of Revenue | $188M |
| GROSS PROFIT | $85M |
| R&D Expenses | $12M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $38M |
| Other Expenses | $12M |
| Operating Expenses | $61M |
| Cost & Expenses | $250M |
| OPERATING INCOME | $24M |
| Interest Income | $1M |
| Interest Expense | $8M |
| Other Income/Expenses | -$5M |
| INCOME BEFORE TAX | $19M |
| Income Tax Expense | $2M |
| 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 | $20M |
| EBIT | $27M |
| EBITDA | $47M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| REVENUE | $273M |
| Cost of Revenue | $188M |
| GROSS PROFIT | $85M |
| R&D Expenses | $12M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $38M |
| Other Expenses | $12M |
| Operating Expenses | $61M |
| Cost & Expenses | $250M |
| OPERATING INCOME | $24M |
| Interest Income | $1M |
| Interest Expense | $8M |
| Other Income/Expenses | -$5M |
| INCOME BEFORE TAX | $19M |
| Income Tax Expense | $2M |
| 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 | $20M |
| EBIT | $27M |
| EBITDA | $47M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | $16M |
| Depreciation & Amortization | $20M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $3M |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | -$5M |
| OPERATING CASH FLOW | $38M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $2M |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | $34M |
| Net Change in Cash | $39M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $309M |
| Short-Term Investments | $0 |
| Net Receivables | $388M |
| Inventory | $333M |
| Other Current Assets | $28M |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $154M |
| Goodwill | $938M |
| Intangible Assets | $211M |
| Long-Term Investments | $0 |
| Tax Assets | $69M |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $2.4B |
| Account Payables | $79M |
| Short-Term Debt | $0 |
| Deferred Revenue | $127M |
| Other Current Liabilities | $51M |
| TOTAL CURRENT LIABILITIES | $300M |
| Long-Term Debt | $592M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $17M |
| TOTAL NON-CURRENT LIABILITIES | $661M |
| TOTAL LIABILITIES | $961M |
| Common Stock | $590.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | $182M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.5B |
| TOTAL LIABILITIES & EQUITY | $2.4B |
| Total Debt | $644M |
| Net Debt | $335M |
