| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $39M | $204M | $53M | -80.7% | -26.0% |
| Op. Income | -$27M | -$23M | -$8M | -21.5% | -231.5% |
| Gross Margin | 77.0% | 23.7% | 83.1% | 53.3pp | -6.2pp |
| Net Margin | -22.3% | -0.9% | -14.1% | -21.4pp | -8.2pp |
| EPS (Diluted) | $-0.37 | $-0.07 | $-0.31 | -401.4% | -19.4% |
| Free Cash Flow | -$85M | $49M | -$27M | -272.9% | -221.8% |
| Item | Amount |
|---|---|
| REVENUE | $39M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $30M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $58M |
| Other Expenses | $0 |
| Operating Expenses | $58M |
| Cost & Expenses | $67M |
| OPERATING INCOME | -$27M |
| Interest Income | $578.0K |
| Interest Expense | $6M |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | -$17M |
| Income Tax Expense | -$9M |
| Net Income from Continuing Ops | -$9M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$9M |
| D&A | $811.0K |
| EBIT | -$12M |
| EBITDA | -$11M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$9M |
| Depreciation & Amortization | $811.0K |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | -$8M |
| Other Non-Cash Items | -$14M |
| Change in Working Capital | -$59M |
| OPERATING CASH FLOW | -$85M |
| Capital Expenditure | -$371.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$9M |
| Common Dividends Paid | -$340.0K |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$9M |
| FREE CASH FLOW | -$85M |
| Net Change in Cash | -$96M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $57M |
| Short-Term Investments | $0 |
| Net Receivables | $74M |
| Inventory | $0 |
| Other Current Assets | $12M |
| TOTAL CURRENT ASSETS | $246M |
| PP&E (Net) | $787M |
| Goodwill | $227M |
| Intangible Assets | $104M |
| Long-Term Investments | $74M |
| Tax Assets | $43M |
| Other Non-Current Assets | $38M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $1.5B |
| Account Payables | $10M |
| Short-Term Debt | $24M |
| Deferred Revenue | $331M |
| Other Current Liabilities | $57M |
| TOTAL CURRENT LIABILITIES | $637M |
| Long-Term Debt | $267M |
| Deferred Revenue NC | $634.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $77M |
| TOTAL NON-CURRENT LIABILITIES | $1.2B |
| TOTAL LIABILITIES | $1.8B |
| Common Stock | $249.0K |
| Additional Paid-In Capital | $4M |
| Retained Earnings | -$146M |
| Treasury Stock | -$152M |
| Accum. Other Comp. Income | -$896.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$294M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$294M |
| TOTAL LIABILITIES & EQUITY | $1.5B |
| Total Debt | $1.2B |
| Net Debt | $1.1B |
