| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $123M | $122M | $122M | 0.6% | 0.8% |
| Op. Income | $22M | -$6M | -$7M | 454.2% | 403.9% |
| Gross Margin | -67.0% | 35.1% | 13.1% | -102.1pp | -80.1pp |
| Net Margin | -5.5% | -7.5% | -8.0% | 2.0pp | 2.4pp |
| EPS (Diluted) | $-1.16 | $-1.60 | $-1.68 | 27.5% | 31.0% |
| Free Cash Flow | -$3M | $1M | -$14M | -337.2% | 75.2% |
| Item | Amount |
|---|---|
| REVENUE | $123M |
| Cost of Revenue | $205M |
| GROSS PROFIT | -$82M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | -$116M |
| Operating Expenses | -$105M |
| Cost & Expenses | $100M |
| OPERATING INCOME | $22M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$29M |
| INCOME BEFORE TAX | -$7M |
| Income Tax Expense | $15.0K |
| Net Income from Continuing Ops | -$7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$7M |
| D&A | $6M |
| EBIT | $22M |
| EBITDA | $29M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$9.0K |
| Other Non-Cash Items | $5M |
| Change in Working Capital | -$6M |
| OPERATING CASH FLOW | -$1M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$32.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $16.0K |
| NET CASH FROM FINANCING | -$16.0K |
| FREE CASH FLOW | -$3M |
| Net Change in Cash | -$5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1M |
| Short-Term Investments | $0 |
| Net Receivables | $4M |
| Inventory | $0 |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $19M |
| PP&E (Net) | $0 |
| Goodwill | $7M |
| Intangible Assets | $420.0K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $235M |
| TOTAL NON-CURRENT ASSETS | $243M |
| TOTAL ASSETS | $262M |
| Account Payables | $17M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $17M |
| TOTAL CURRENT LIABILITIES | $62M |
| Long-Term Debt | $109M |
| Deferred Revenue NC | $800.0K |
| Deferred Tax Liabilities | $316.0K |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $245M |
| TOTAL LIABILITIES | $307M |
| Common Stock | $62.0K |
| Additional Paid-In Capital | $217M |
| Retained Earnings | -$227M |
| Treasury Stock | -$35M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$45M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$45M |
| TOTAL LIABILITIES & EQUITY | $262M |
| Total Debt | $269M |
| Net Debt | $268M |
