| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $151M | $101M | $115M | 49.7% | 31.0% |
| Op. Income | $21M | -$13M | $6M | 264.8% | 232.1% |
| Gross Margin | 76.0% | 72.6% | 76.7% | 3.4pp | -0.8pp |
| Net Margin | 14.3% | -9.3% | 10.7% | 23.6pp | 3.6pp |
| EPS (Diluted) | $0.11 | $-0.10 | $0.09 | 214.3% | 19.4% |
| Free Cash Flow | $844.0K | -$37M | $6M | 102.3% | -86.2% |
| Item | Amount |
|---|---|
| REVENUE | $151M |
| Cost of Revenue | $36M |
| GROSS PROFIT | $115M |
| R&D Expenses | $13M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $79M |
| Other Expenses | $1M |
| Operating Expenses | $94M |
| Cost & Expenses | $130M |
| OPERATING INCOME | $21M |
| Interest Income | $0 |
| Interest Expense | $415.0K |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | $22M |
| Income Tax Expense | $407.0K |
| Net Income from Continuing Ops | $22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $15M |
| D&A | $5M |
| EBIT | $22M |
| EBITDA | $27M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $151M |
| Cost of Revenue | $36M |
| GROSS PROFIT | $115M |
| R&D Expenses | $13M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $79M |
| Other Expenses | $1M |
| Operating Expenses | $94M |
| Cost & Expenses | $130M |
| OPERATING INCOME | $21M |
| Interest Income | $0 |
| Interest Expense | $415.0K |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | $22M |
| Income Tax Expense | $407.0K |
| Net Income from Continuing Ops | $22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $15M |
| D&A | $5M |
| EBIT | $22M |
| EBITDA | $27M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $22M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$4M |
| Other Non-Cash Items | $8M |
| Change in Working Capital | -$30M |
| OPERATING CASH FLOW | $3M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$296.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$10M |
| NET CASH FROM FINANCING | -$10M |
| FREE CASH FLOW | $844.0K |
| Net Change in Cash | -$9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $64M |
| Short-Term Investments | $0 |
| Net Receivables | $169M |
| Inventory | $40M |
| Other Current Assets | $27M |
| TOTAL CURRENT ASSETS | $300M |
| PP&E (Net) | $111M |
| Goodwill | $29M |
| Intangible Assets | $10M |
| Long-Term Investments | $0 |
| Tax Assets | $46M |
| Other Non-Current Assets | $14M |
| TOTAL NON-CURRENT ASSETS | $210M |
| TOTAL ASSETS | $510M |
| Account Payables | $40M |
| Short-Term Debt | $10M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $9M |
| TOTAL CURRENT LIABILITIES | $90M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $34M |
| TOTAL LIABILITIES | $124M |
| Common Stock | $13.0K |
| Additional Paid-In Capital | $302M |
| Retained Earnings | -$47M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $386M |
| Minority Interest | $0 |
| TOTAL EQUITY | $386M |
| TOTAL LIABILITIES & EQUITY | $510M |
| Total Debt | $41M |
| Net Debt | -$24M |
