| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $339M | $298M | $390M | 13.9% | -13.0% |
| Op. Income | $4M | $6M | $29M | -35.0% | -86.4% |
| Gross Margin | 30.9% | 31.4% | 33.1% | -0.5pp | -2.2pp |
| Net Margin | -1.3% | -1.8% | 5.1% | 0.5pp | -6.4pp |
| EPS (Diluted) | $-0.19 | $-0.24 | $1.57 | 20.8% | -112.1% |
| Free Cash Flow | -$3M | -$32M | -$48M | 89.3% | 92.9% |
| Item | Amount |
|---|---|
| REVENUE | $339M |
| Cost of Revenue | $234M |
| GROSS PROFIT | $105M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $101M |
| Other Expenses | $0 |
| Operating Expenses | $101M |
| Cost & Expenses | $335M |
| OPERATING INCOME | $4M |
| Interest Income | $7.0K |
| Interest Expense | $8M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | -$132.0K |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $7M |
| EBIT | $4M |
| EBITDA | $11M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $266.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $19M |
| Change in Working Capital | -$16M |
| OPERATING CASH FLOW | $6M |
| Capital Expenditure | -$10M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$10M |
| Net Debt Issuance | $3M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$3M |
| Net Change in Cash | -$545.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7M |
| Short-Term Investments | $0 |
| Net Receivables | $63M |
| Inventory | $390M |
| Other Current Assets | $30M |
| TOTAL CURRENT ASSETS | $490M |
| PP&E (Net) | $252M |
| Goodwill | $0 |
| Intangible Assets | $13M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $272M |
| TOTAL ASSETS | $763M |
| Account Payables | $86M |
| Short-Term Debt | $353M |
| Deferred Revenue | $19M |
| Other Current Liabilities | $72M |
| TOTAL CURRENT LIABILITIES | $533M |
| Long-Term Debt | $107M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $14M |
| TOTAL NON-CURRENT LIABILITIES | $238M |
| TOTAL LIABILITIES | $771M |
| Common Stock | $2M |
| Additional Paid-In Capital | $243M |
| Retained Earnings | -$236M |
| Treasury Stock | -$90.0K |
| Accum. Other Comp. Income | -$17M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$9M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$9M |
| TOTAL LIABILITIES & EQUITY | $763M |
| Total Debt | $578M |
| Net Debt | $570M |
