| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $49M | — | $39M | — | 23.8% |
| Op. Income | -$6M | — | -$5M | — | -22.6% |
| Gross Margin | 10.1% | — | 11.1% | — | -1.0pp |
| Net Margin | -15.2% | — | -17.0% | — | 1.8pp |
| EPS (Diluted) | $-0.09 | — | $0.00 | — | -Infinity% |
| Free Cash Flow | $9M | — | $8M | — | 22.4% |
| Item | Amount |
|---|---|
| REVENUE | $49M |
| Cost of Revenue | $44M |
| GROSS PROFIT | $5M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | $6M |
| Operating Expenses | $11M |
| Cost & Expenses | $52M |
| OPERATING INCOME | -$6M |
| Interest Income | $27.0K |
| Interest Expense | $981.0K |
| Other Income/Expenses | -$962.0K |
| INCOME BEFORE TAX | -$7M |
| Income Tax Expense | $574.0K |
| Net Income from Continuing Ops | -$7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$7M |
| Net Income Deductions | $410.0K |
| BOTTOM LINE NET INCOME | -$8M |
| D&A | $3M |
| EBIT | -$6M |
| EBITDA | -$3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $12M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $5M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $10M |
| Capital Expenditure | -$129.1K |
| Acquisitions (Net) | -$2M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$500.0K |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$1M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$5M |
| FREE CASH FLOW | $9M |
| Net Change in Cash | $1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $11M |
| Short-Term Investments | $0 |
| Net Receivables | $25M |
| Inventory | $0 |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $49M |
| PP&E (Net) | $18M |
| Goodwill | $67M |
| Intangible Assets | $42M |
| Long-Term Investments | $2M |
| Tax Assets | $23M |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $155M |
| TOTAL ASSETS | $205M |
| Account Payables | $6M |
| Short-Term Debt | $8M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $20M |
| TOTAL CURRENT LIABILITIES | $50M |
| Long-Term Debt | $41M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $17M |
| TOTAL NON-CURRENT LIABILITIES | $73M |
| TOTAL LIABILITIES | $123M |
| Common Stock | $23.0K |
| Additional Paid-In Capital | $227M |
| Retained Earnings | -$147M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1M |
| TOTAL STOCKHOLDERS' EQUITY | $82M |
| Minority Interest | $0 |
| TOTAL EQUITY | $82M |
| TOTAL LIABILITIES & EQUITY | $205M |
| Total Debt | $70M |
| Net Debt | $58M |
