| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $242M | $407M | $228M | -40.5% | 6.2% |
| Op. Income | $27M | $139M | $17M | -80.3% | 62.6% |
| Gross Margin | 42.7% | 51.6% | 37.8% | -8.9pp | 4.9pp |
| Net Margin | 3.3% | 18.6% | 1.2% | -15.3pp | 2.1pp |
| EPS (Diluted) | $0.17 | $1.56 | $0.06 | -89.1% | 194.6% |
| Free Cash Flow | $54M | $104M | -$3M | -48.0% | 2163.9% |
| Item | Amount |
|---|---|
| REVENUE | $242M |
| Cost of Revenue | $139M |
| GROSS PROFIT | $104M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $52M |
| Other Expenses | $24M |
| Operating Expenses | $76M |
| Cost & Expenses | $215M |
| OPERATING INCOME | $27M |
| Interest Income | $710.0K |
| Interest Expense | $12M |
| Other Income/Expenses | -$12M |
| INCOME BEFORE TAX | $15M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $14M |
| EBIT | $27M |
| EBITDA | $41M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $242M |
| Cost of Revenue | $139M |
| GROSS PROFIT | $104M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $52M |
| Other Expenses | $24M |
| Operating Expenses | $76M |
| Cost & Expenses | $215M |
| OPERATING INCOME | $27M |
| Interest Income | $710.0K |
| Interest Expense | $12M |
| Other Income/Expenses | -$12M |
| INCOME BEFORE TAX | $15M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $14M |
| EBIT | $27M |
| EBITDA | $41M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $8M |
| Depreciation & Amortization | $14M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | $11M |
| Change in Working Capital | $16M |
| OPERATING CASH FLOW | $57M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$134.0K |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$4M |
| Common Stock Repurchased | -$15M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$702.0K |
| NET CASH FROM FINANCING | -$19M |
| FREE CASH FLOW | $54M |
| Net Change in Cash | $34M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $89M |
| Short-Term Investments | $0 |
| Net Receivables | $125M |
| Inventory | $4M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $308M |
| PP&E (Net) | $1.1B |
| Goodwill | $69M |
| Intangible Assets | $64M |
| Long-Term Investments | $7M |
| Tax Assets | $41M |
| Other Non-Current Assets | $134M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $1.7B |
| Account Payables | $21M |
| Short-Term Debt | $28M |
| Deferred Revenue | $231M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $538M |
| Long-Term Debt | $577M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $45M |
| TOTAL NON-CURRENT LIABILITIES | $1.2B |
| TOTAL LIABILITIES | $1.7B |
| Common Stock | $529.0K |
| Additional Paid-In Capital | $40M |
| Retained Earnings | $180M |
| Treasury Stock | -$180M |
| Accum. Other Comp. Income | -$31M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $10M |
| Minority Interest | $0 |
| TOTAL EQUITY | $10M |
| TOTAL LIABILITIES & EQUITY | $1.7B |
| Total Debt | $1.2B |
| Net Debt | $1.1B |
