| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $294M | $326M | $361M | -9.9% | -18.6% |
| Op. Income | -$6M | -$3M | -$180M | -91.5% | 96.6% |
| Gross Margin | 5.4% | 9.1% | 10.8% | -3.7pp | -5.5pp |
| Net Margin | -0.8% | -2.2% | -38.0% | 1.4pp | 37.2pp |
| EPS (Diluted) | $-0.02 | $-0.07 | $-1.32 | 66.9% | 98.3% |
| Free Cash Flow | -$2M | $17M | -$6M | -113.9% | 60.2% |
| Item | Amount |
|---|---|
| REVENUE | $294M |
| Cost of Revenue | $278M |
| GROSS PROFIT | $16M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $22M |
| SG&A Expenses | $22M |
| Other Expenses | -$674.0K |
| Operating Expenses | $22M |
| Cost & Expenses | $300M |
| OPERATING INCOME | -$6M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | -$704.0K |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $42M |
| EBIT | -$959.0K |
| EBITDA | $41M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $42M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | -$701.0K |
| Other Non-Cash Items | -$7M |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | $42M |
| Capital Expenditure | -$44M |
| Acquisitions (Net) | $541.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $998.0K |
| NET CASH FROM INVESTING | -$43M |
| Net Debt Issuance | -$6M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$7M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | -$8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $67M |
| Short-Term Investments | $10M |
| Net Receivables | $209M |
| Inventory | $16M |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $319M |
| PP&E (Net) | $890M |
| Goodwill | $920.0K |
| Intangible Assets | $58M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $12M |
| TOTAL NON-CURRENT ASSETS | $960M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $138M |
| Short-Term Debt | $8M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $254M |
| Long-Term Debt | $87M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $63M |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $199M |
| TOTAL LIABILITIES | $453M |
| Common Stock | $104.0K |
| Additional Paid-In Capital | $895M |
| Retained Earnings | -$69M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $826M |
| Minority Interest | $0 |
| TOTAL EQUITY | $826M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $202M |
| Net Debt | $135M |
