| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $149M | $152M | $184M | -2.1% | -19.1% |
| Op. Income | -$38M | $48M | -$33M | -179.7% | -15.6% |
| Gross Margin | 59.6% | 47.0% | 46.1% | 12.6pp | 13.5pp |
| Net Margin | -21.1% | 14.3% | 7.6% | -35.3pp | -28.7pp |
| EPS (Diluted) | $-0.04 | $0.03 | $0.02 | -247.3% | -302.0% |
| Free Cash Flow | -$29M | -$38M | -$50M | 24.3% | 42.6% |
| Item | Amount |
|---|---|
| REVENUE | $149M |
| Cost of Revenue | $60M |
| GROSS PROFIT | $89M |
| R&D Expenses | $33M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $51M |
| Other Expenses | $44M |
| Operating Expenses | $127M |
| Cost & Expenses | $187M |
| OPERATING INCOME | -$38M |
| Interest Income | $2M |
| Interest Expense | $4M |
| Other Income/Expenses | -$9M |
| INCOME BEFORE TAX | -$47M |
| Income Tax Expense | -$16M |
| Net Income from Continuing Ops | -$31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$31M |
| D&A | $22M |
| EBIT | -$43M |
| EBITDA | -$20M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$31M |
| Depreciation & Amortization | $22M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$10M |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$12M |
| OPERATING CASH FLOW | -$26M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $527.0K |
| Other Investing Activities | $93.0K |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$5M |
| Common Stock Repurchased | -$14M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$18M |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | -$46M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $369M |
| Short-Term Investments | $0 |
| Net Receivables | $90M |
| Inventory | $66M |
| Other Current Assets | $57M |
| TOTAL CURRENT ASSETS | $582M |
| PP&E (Net) | $121M |
| Goodwill | $484M |
| Intangible Assets | $516M |
| Long-Term Investments | $14M |
| Tax Assets | $0 |
| Other Non-Current Assets | $214M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $1.9B |
| Account Payables | $41M |
| Short-Term Debt | $23M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $83M |
| TOTAL CURRENT LIABILITIES | $147M |
| Long-Term Debt | $371M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $126M |
| Other Non-Current Liabilities | -$20M |
| TOTAL NON-CURRENT LIABILITIES | $517M |
| TOTAL LIABILITIES | $664M |
| Common Stock | $8M |
| Additional Paid-In Capital | $3.6B |
| Retained Earnings | -$2.3B |
| Treasury Stock | -$3M |
| Accum. Other Comp. Income | -$21M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.3B |
| TOTAL LIABILITIES & EQUITY | $1.9B |
| Total Debt | $434M |
| Net Debt | $65M |
