| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $164M | $115M | $135M | 42.0% | 21.7% |
| Op. Income | $19M | $6M | $23M | 191.1% | -20.1% |
| Gross Margin | 16.6% | 13.9% | 24.3% | 2.8pp | -7.7pp |
| Net Margin | 9.2% | 4.6% | 15.4% | 4.5pp | -6.2pp |
| EPS (Diluted) | $2.11 | $0.74 | $-2.91 | 185.1% | 172.5% |
| Free Cash Flow | $12M | -$25M | -$11M | 150.4% | 210.2% |
| Item | Amount |
|---|---|
| REVENUE | $164M |
| Cost of Revenue | $137M |
| GROSS PROFIT | $27M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $9M |
| Cost & Expenses | $145M |
| OPERATING INCOME | $19M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $175.0K |
| INCOME BEFORE TAX | $19M |
| Income Tax Expense | $4M |
| 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 | $1M |
| EBIT | $19M |
| EBITDA | $20M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $164M |
| Cost of Revenue | $137M |
| GROSS PROFIT | $27M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $9M |
| Cost & Expenses | $145M |
| OPERATING INCOME | $19M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $175.0K |
| INCOME BEFORE TAX | $19M |
| Income Tax Expense | $4M |
| 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 | $1M |
| EBIT | $19M |
| EBITDA | $20M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $15M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $8M |
| Other Non-Cash Items | $113.0K |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | $14M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $2M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $522.0K |
| Net Debt Issuance | -$13M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$13M |
| FREE CASH FLOW | $12M |
| Net Change in Cash | $1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3M |
| Short-Term Investments | $503.0K |
| Net Receivables | $89M |
| Inventory | $307M |
| Other Current Assets | $1M |
| TOTAL CURRENT ASSETS | $403M |
| PP&E (Net) | $73M |
| Goodwill | $19M |
| Intangible Assets | $2M |
| Long-Term Investments | $0 |
| Tax Assets | $7M |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $102M |
| TOTAL ASSETS | $505M |
| Account Payables | $45M |
| Short-Term Debt | $24M |
| Deferred Revenue | $9M |
| Other Current Liabilities | $8M |
| TOTAL CURRENT LIABILITIES | $95M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $4M |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $15M |
| TOTAL LIABILITIES | $110M |
| Common Stock | $7M |
| Additional Paid-In Capital | $18M |
| Retained Earnings | $380M |
| Treasury Stock | -$10M |
| Accum. Other Comp. Income | $6.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $395M |
| Minority Interest | $0 |
| TOTAL EQUITY | $395M |
| TOTAL LIABILITIES & EQUITY | $505M |
| Total Debt | $33M |
| Net Debt | $30M |
