| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $77M | $76M | $89M | 0.7% | -14.0% |
| Op. Income | -$2M | -$15M | -$3M | 87.9% | 46.2% |
| Gross Margin | 8.7% | -9.1% | 7.0% | 17.8pp | 1.6pp |
| Net Margin | -2.2% | -15.8% | -3.0% | 13.7pp | 0.9pp |
| EPS (Diluted) | $-0.08 | $-0.57 | $-0.13 | 86.0% | 38.5% |
| Free Cash Flow | -$45M | $6M | -$18M | -818.6% | -147.3% |
| Item | Amount |
|---|---|
| REVENUE | $77M |
| Cost of Revenue | $70M |
| GROSS PROFIT | $7M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $9M |
| Operating Expenses | $9M |
| Cost & Expenses | $78M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | -$192.0K |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $175.0K |
| EBIT | -$2M |
| EBITDA | -$2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $175.0K |
| Stock-Based Compensation | $304.0K |
| Deferred Income Tax | $115.0K |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$47M |
| OPERATING CASH FLOW | -$45M |
| Capital Expenditure | -$35.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$5M |
| Sales/Maturities of Investments | $19M |
| Other Investing Activities | $14.0K |
| NET CASH FROM INVESTING | $14M |
| Net Debt Issuance | -$27.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | -$45M |
| Net Change in Cash | -$32M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $25M |
| Short-Term Investments | $136M |
| Net Receivables | $76M |
| Inventory | $0 |
| Other Current Assets | -$136M |
| TOTAL CURRENT ASSETS | $101M |
| PP&E (Net) | $7M |
| Goodwill | $0 |
| Intangible Assets | $22M |
| Long-Term Investments | $204M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$227M |
| TOTAL NON-CURRENT ASSETS | $7M |
| TOTAL ASSETS | $544M |
| Account Payables | $1M |
| Short-Term Debt | $130.0K |
| Deferred Revenue | $122M |
| Other Current Liabilities | -$112M |
| TOTAL CURRENT LIABILITIES | $12M |
| Long-Term Debt | $1M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $274M |
| TOTAL NON-CURRENT LIABILITIES | $277M |
| TOTAL LIABILITIES | $300M |
| Common Stock | $230.0K |
| Additional Paid-In Capital | $96M |
| Retained Earnings | $194M |
| Treasury Stock | -$35M |
| Accum. Other Comp. Income | -$12M |
| Other Equity | -$455.0K |
| TOTAL STOCKHOLDERS' EQUITY | $244M |
| Minority Interest | $0 |
| TOTAL EQUITY | $244M |
| TOTAL LIABILITIES & EQUITY | $544M |
| Total Debt | $3M |
| Net Debt | -$22M |
