| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $132M | $147M | $138M | -10.3% | -4.4% |
| Op. Income | -$1M | $4M | $2M | -132.0% | -147.6% |
| Gross Margin | 8.9% | 11.7% | 11.4% | -2.8pp | -2.5pp |
| Net Margin | -11.1% | -7.1% | -7.3% | -4.0pp | -3.8pp |
| EPS (Diluted) | $-0.35 | $-0.25 | $-0.26 | -40.0% | -34.6% |
| Free Cash Flow | -$13M | $4M | -$9M | -418.2% | -45.0% |
| Item | Amount |
|---|---|
| REVENUE | $132M |
| Cost of Revenue | $120M |
| GROSS PROFIT | $12M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $13M |
| SG&A Expenses | $13M |
| Other Expenses | $157.0K |
| Operating Expenses | $13M |
| Cost & Expenses | $133M |
| OPERATING INCOME | -$1M |
| Interest Income | $114.0K |
| Interest Expense | $14M |
| Other Income/Expenses | -$13M |
| INCOME BEFORE TAX | -$15M |
| Income Tax Expense | $53.0K |
| Net Income from Continuing Ops | -$15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$15M |
| D&A | $13M |
| EBIT | -$880.0K |
| EBITDA | $12M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$15M |
| Depreciation & Amortization | $13M |
| Stock-Based Compensation | $467.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$13M |
| OPERATING CASH FLOW | -$10M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $55.0K |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | $12M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$51.0K |
| NET CASH FROM FINANCING | $12M |
| FREE CASH FLOW | -$13M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $14M |
| Short-Term Investments | $0 |
| Net Receivables | $81M |
| Inventory | $57M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $163M |
| PP&E (Net) | $102M |
| Goodwill | $0 |
| Intangible Assets | $71M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $178M |
| TOTAL ASSETS | $341M |
| Account Payables | $37M |
| Short-Term Debt | $13M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $74M |
| Long-Term Debt | $363M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$23M |
| TOTAL NON-CURRENT LIABILITIES | $363M |
| TOTAL LIABILITIES | $437M |
| Common Stock | $434.0K |
| Additional Paid-In Capital | $808M |
| Retained Earnings | -$899M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$96M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$96M |
| TOTAL LIABILITIES & EQUITY | $341M |
| Total Debt | $376M |
| Net Debt | $362M |
