| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $223M | $208M | $209M | 6.9% | 6.5% |
| Op. Income | -$17M | -$22M | -$28M | 23.5% | 39.2% |
| Gross Margin | 29.8% | 32.5% | 29.8% | -2.7pp | -0.0pp |
| Net Margin | -29.3% | -26.9% | -16.6% | -2.5pp | -12.7pp |
| EPS (Diluted) | $-2.20 | $-1.86 | $-1.16 | -18.3% | -89.7% |
| Free Cash Flow | -$5M | -$5M | -$27M | 11.9% | 82.8% |
| Item | Amount |
|---|---|
| REVENUE | $223M |
| Cost of Revenue | $156M |
| GROSS PROFIT | $66M |
| R&D Expenses | $5M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $75M |
| Other Expenses | $4M |
| Operating Expenses | $83M |
| Cost & Expenses | $240M |
| OPERATING INCOME | -$17M |
| Interest Income | $0 |
| Interest Expense | $47M |
| Other Income/Expenses | -$48M |
| INCOME BEFORE TAX | -$64M |
| Income Tax Expense | $923.0K |
| Net Income from Continuing Ops | -$65M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$65M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$65M |
| D&A | $12M |
| EBIT | -$48M |
| EBITDA | -$36M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$65M |
| Depreciation & Amortization | $12M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $42M |
| Change in Working Capital | $9M |
| OPERATING CASH FLOW | -$2M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $305.4K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $4.5K |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$4M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $6.8K |
| NET CASH FROM FINANCING | -$4M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | -$9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $59M |
| Short-Term Investments | $0 |
| Net Receivables | $121M |
| Inventory | $64M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $258M |
| PP&E (Net) | $340M |
| Goodwill | $125M |
| Intangible Assets | $9M |
| Long-Term Investments | $42M |
| Tax Assets | $5M |
| Other Non-Current Assets | -$1.9K |
| TOTAL NON-CURRENT ASSETS | $521M |
| TOTAL ASSETS | $780M |
| Account Payables | $71M |
| Short-Term Debt | $391M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $25M |
| TOTAL CURRENT LIABILITIES | $610M |
| Long-Term Debt | $116M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $6M |
| TOTAL NON-CURRENT LIABILITIES | $149M |
| TOTAL LIABILITIES | $760M |
| Common Stock | $107.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$237M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $19M |
| Minority Interest | $1M |
| TOTAL EQUITY | $20M |
| TOTAL LIABILITIES & EQUITY | $780M |
| Total Debt | $548M |
| Net Debt | $489M |
