| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $142M | $129M | $143M | 10.3% | -0.6% |
| Op. Income | $7M | $3M | $9M | 150.0% | -27.0% |
| Gross Margin | 7.9% | 6.8% | 10.8% | 1.1pp | -2.9pp |
| Net Margin | 2.3% | 0.9% | 4.1% | 1.3pp | -1.8pp |
| EPS (Diluted) | $0.14 | $0.05 | $0.25 | 157.8% | -44.0% |
| Free Cash Flow | $17M | $8M | $27M | 113.8% | -37.4% |
| Item | Amount |
|---|---|
| REVENUE | $142M |
| Cost of Revenue | $131M |
| GROSS PROFIT | $11M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | -$2M |
| Operating Expenses | $7M |
| Cost & Expenses | $136M |
| OPERATING INCOME | $7M |
| Interest Income | $0 |
| Interest Expense | $200.0K |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3M |
| D&A | $14M |
| EBIT | $5M |
| EBITDA | $19M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $142M |
| Cost of Revenue | $131M |
| GROSS PROFIT | $11M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | -$2M |
| Operating Expenses | $7M |
| Cost & Expenses | $136M |
| OPERATING INCOME | $7M |
| Interest Income | $0 |
| Interest Expense | $200.0K |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3M |
| D&A | $14M |
| EBIT | $5M |
| EBITDA | $19M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $3M |
| Depreciation & Amortization | $14M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | -$200.0K |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $24M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$52M |
| NET CASH FROM INVESTING | -$59M |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | $1M |
| Common Dividends Paid | -$1M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$400.0K |
| FREE CASH FLOW | $17M |
| Net Change in Cash | -$35M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $10M |
| Short-Term Investments | $0 |
| Net Receivables | $95M |
| Inventory | $3M |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $121M |
| PP&E (Net) | $292M |
| Goodwill | $0 |
| Intangible Assets | $5M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $298M |
| TOTAL ASSETS | $419M |
| Account Payables | $25M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $43M |
| TOTAL CURRENT LIABILITIES | $69M |
| Long-Term Debt | $17M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $24M |
| Other Non-Current Liabilities | $10M |
| TOTAL NON-CURRENT LIABILITIES | $50M |
| TOTAL LIABILITIES | $119M |
| Common Stock | $300.0K |
| Additional Paid-In Capital | $302M |
| Retained Earnings | $49M |
| Treasury Stock | -$51M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $300M |
| Minority Interest | $0 |
| TOTAL EQUITY | $300M |
| TOTAL LIABILITIES & EQUITY | $419M |
| Total Debt | $17M |
| Net Debt | $7M |
