| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | -$224M | $77M | $74M | -392.6% | -403.1% |
| Op. Income | $9M | -$2M | $14M | 607.7% | -31.8% |
| Gross Margin | 7.2% | 8.7% | 31.8% | -1.5pp | -24.6pp |
| Net Margin | 1.4% | -2.2% | 13.3% | 3.6pp | -11.9pp |
| EPS (Diluted) | $-0.15 | $-0.08 | $0.47 | -87.5% | -131.9% |
| Free Cash Flow | $18M | -$45M | $22M | 139.9% | -16.9% |
| Item | Amount |
|---|---|
| REVENUE | -$224M |
| Cost of Revenue | -$208M |
| GROSS PROFIT | -$16M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | -$26M |
| Operating Expenses | -$26M |
| Cost & Expenses | -$233M |
| OPERATING INCOME | $9M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $9M |
| Income Tax Expense | $260.0K |
| Net Income from Continuing Ops | -$3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$3M |
| D&A | -$519.0K |
| EBIT | $9M |
| EBITDA | $9M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | -$791.0K |
| Stock-Based Compensation | -$1M |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | -$6M |
| Change in Working Capital | $23M |
| OPERATING CASH FLOW | $18M |
| Capital Expenditure | $217.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $21M |
| Sales/Maturities of Investments | -$32M |
| Other Investing Activities | $27M |
| NET CASH FROM INVESTING | $15M |
| Net Debt Issuance | -$28.0K |
| Common Stock Repurchased | -$1M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | $18M |
| Net Change in Cash | $27M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $678.0K |
| Short-Term Investments | $0 |
| Net Receivables | $42M |
| Inventory | $0 |
| Other Current Assets | -$42M |
| TOTAL CURRENT ASSETS | $678.0K |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $327M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$87M |
| TOTAL NON-CURRENT ASSETS | $240M |
| TOTAL ASSETS | $241M |
| Account Payables | $0 |
| Short-Term Debt | $497.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $136.0K |
| TOTAL CURRENT LIABILITIES | $633.0K |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $7M |
| Other Non-Current Liabilities | $253M |
| TOTAL NON-CURRENT LIABILITIES | $260M |
| TOTAL LIABILITIES | $385.0K |
| Common Stock | $230.0K |
| Additional Paid-In Capital | $96M |
| Retained Earnings | $191M |
| Treasury Stock | -$36M |
| Accum. Other Comp. Income | -$11M |
| Other Equity | -$212.0K |
| TOTAL STOCKHOLDERS' EQUITY | $241M |
| Minority Interest | $0 |
| TOTAL EQUITY | $241M |
| TOTAL LIABILITIES & EQUITY | $241M |
| Total Debt | $1M |
| Net Debt | $709.0K |
