| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $154M | $242M | $186M | -36.4% | -17.2% |
| Op. Income | -$26M | $27M | -$9M | -194.2% | -190.7% |
| Gross Margin | 48.8% | 42.7% | 45.9% | 6.1pp | 2.9pp |
| Net Margin | -17.6% | 3.3% | 36.0% | -20.9pp | -53.6pp |
| EPS (Diluted) | $-0.57 | $0.17 | $1.41 | -435.3% | -140.4% |
| Free Cash Flow | -$31M | $54M | -$4M | -157.7% | -618.9% |
| Item | Amount |
|---|---|
| REVENUE | $154M |
| Cost of Revenue | $79M |
| GROSS PROFIT | $75M |
| R&D Expenses | $0 |
| Selling & Marketing | $10M |
| General & Administrative | $73M |
| SG&A Expenses | $83M |
| Other Expenses | $18M |
| Operating Expenses | $101M |
| Cost & Expenses | $180M |
| OPERATING INCOME | -$26M |
| Interest Income | $881.0K |
| Interest Expense | $12M |
| Other Income/Expenses | -$16M |
| INCOME BEFORE TAX | -$42M |
| Income Tax Expense | -$15M |
| Net Income from Continuing Ops | -$27M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$27M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$27M |
| D&A | $15M |
| EBIT | -$23M |
| EBITDA | -$8M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$27M |
| Depreciation & Amortization | $16M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | -$19M |
| OPERATING CASH FLOW | -$27M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$247.0K |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | -$4M |
| Common Stock Repurchased | -$1M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$9M |
| NET CASH FROM FINANCING | -$15M |
| FREE CASH FLOW | -$31M |
| Net Change in Cash | -$46M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $43M |
| Short-Term Investments | $0 |
| Net Receivables | $97M |
| Inventory | $4M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $237M |
| PP&E (Net) | $1.1B |
| Goodwill | $69M |
| Intangible Assets | $64M |
| Long-Term Investments | $7M |
| Tax Assets | $54M |
| Other Non-Current Assets | $133M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $1.7B |
| Account Payables | $12M |
| Short-Term Debt | $30M |
| Deferred Revenue | $229M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $502M |
| Long-Term Debt | $569M |
| 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 | $530.0K |
| Additional Paid-In Capital | $45M |
| Retained Earnings | $153M |
| Treasury Stock | -$180M |
| Accum. Other Comp. Income | -$32M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$13M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$13M |
| TOTAL LIABILITIES & EQUITY | $1.7B |
| Total Debt | $1.2B |
| Net Debt | $1.2B |
