| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $78M | $68M | $0 | 14.1% | — |
| Op. Income | $27M | $19M | -$9M | 42.8% | 406.8% |
| Gross Margin | 50.7% | 52.7% | — | -2.0pp | — |
| Net Margin | 1.7% | 52.4% | — | -50.7pp | — |
| EPS (Diluted) | $-0.44 | $0.18 | $-0.68 | -344.4% | 35.3% |
| Free Cash Flow | $450M | -$47M | -$3M | 1054.5% | 17975.0% |
| Item | Amount |
|---|---|
| REVENUE | $78M |
| Cost of Revenue | $38M |
| GROSS PROFIT | $39M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $116.0K |
| Operating Expenses | $12M |
| Cost & Expenses | $51M |
| OPERATING INCOME | $27M |
| Interest Income | $218.0K |
| Interest Expense | $9M |
| Other Income/Expenses | -$26M |
| INCOME BEFORE TAX | $1M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$23M |
| D&A | $16M |
| EBIT | $10M |
| EBITDA | $26M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| REVENUE | $78M |
| Cost of Revenue | $38M |
| GROSS PROFIT | $39M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $116.0K |
| Operating Expenses | $12M |
| Cost & Expenses | $51M |
| OPERATING INCOME | $27M |
| Interest Income | $218.0K |
| Interest Expense | $9M |
| Other Income/Expenses | -$26M |
| INCOME BEFORE TAX | $1M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$23M |
| D&A | $16M |
| EBIT | $10M |
| EBITDA | $26M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | $1M |
| Depreciation & Amortization | $17M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $32M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | $58M |
| Capital Expenditure | $392M |
| Acquisitions (Net) | -$480M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $2M |
| NET CASH FROM INVESTING | -$86M |
| Net Debt Issuance | $30M |
| Common Stock Repurchased | -$24.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | $29M |
| FREE CASH FLOW | $450M |
| Net Change in Cash | -$13.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $11M |
| Short-Term Investments | $0 |
| Net Receivables | $90M |
| Inventory | $5M |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $121M |
| PP&E (Net) | $799M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $20M |
| TOTAL NON-CURRENT ASSETS | $819M |
| TOTAL ASSETS | $940M |
| Account Payables | $47M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $145M |
| Long-Term Debt | $418M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $273M |
| TOTAL NON-CURRENT LIABILITIES | $693M |
| TOTAL LIABILITIES | $838M |
| Common Stock | $540.0K |
| Additional Paid-In Capital | $187M |
| Retained Earnings | -$85M |
| Treasury Stock | -$442.0K |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $102M |
| Minority Interest | $0 |
| TOTAL EQUITY | $102M |
| TOTAL LIABILITIES & EQUITY | $940M |
| Total Debt | $420M |
| Net Debt | $410M |
