| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $86M | $85M | $89M | 0.8% | -3.3% |
| Op. Income | $2M | -$6M | -$21M | 143.0% | 111.3% |
| Gross Margin | 37.4% | 36.9% | 36.6% | 0.5pp | 0.8pp |
| Net Margin | -14.6% | -24.4% | -45.8% | 9.8pp | 31.2pp |
| EPS (Diluted) | $0.00 | $0.00 | $0.00 | NaN% | NaN% |
| Free Cash Flow | $6M | $1M | -$100M | 311.6% | 105.6% |
| Item | Amount |
|---|---|
| REVENUE | $86M |
| Cost of Revenue | $54M |
| GROSS PROFIT | $32M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | $24M |
| Operating Expenses | $30M |
| Cost & Expenses | $84M |
| OPERATING INCOME | $2M |
| Interest Income | $294.0K |
| Interest Expense | $15M |
| Other Income/Expenses | -$15M |
| INCOME BEFORE TAX | -$12M |
| Income Tax Expense | $66.0K |
| Net Income from Continuing Ops | -$13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$16M |
| D&A | $18M |
| EBIT | $3M |
| EBITDA | $21M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | -$13M |
| Depreciation & Amortization | $18M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $269.0K |
| Other Non-Cash Items | $8M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | $10M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $2M |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$46.0K |
| NET CASH FROM FINANCING | -$8M |
| FREE CASH FLOW | $6M |
| Net Change in Cash | -$634.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $47M |
| Short-Term Investments | $0 |
| Net Receivables | $31M |
| Inventory | $0 |
| Other Current Assets | $62M |
| TOTAL CURRENT ASSETS | $140M |
| PP&E (Net) | $7M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.3B |
| TOTAL NON-CURRENT ASSETS | $1.6B |
| TOTAL ASSETS | $1.7B |
| Account Payables | $46M |
| Short-Term Debt | $336M |
| Deferred Revenue | $10M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $396M |
| Long-Term Debt | $697M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $710M |
| TOTAL LIABILITIES | $1.1B |
| Common Stock | $1M |
| Additional Paid-In Capital | $2.5B |
| Retained Earnings | -$1.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $8M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $627M |
| Minority Interest | $5M |
| TOTAL EQUITY | $633M |
| TOTAL LIABILITIES & EQUITY | $1.7B |
| Total Debt | $1.0B |
| Net Debt | $994M |
