| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $17M | $20M | $25M | -12.2% | -30.8% |
| Op. Income | $7M | $11M | $16M | -31.8% | -54.4% |
| Gross Margin | 48.7% | 56.3% | 68.4% | -7.6pp | -19.7pp |
| Net Margin | 38.4% | 51.1% | 61.4% | -12.7pp | -23.0pp |
| EPS (Diluted) | $0.24 | $0.36 | $0.59 | -33.3% | -59.3% |
| Free Cash Flow | -$20M | $24M | $12M | -185.5% | -272.1% |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $8M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $2M |
| SG&A Expenses | $2M |
| Other Expenses | -$306.5K |
| Operating Expenses | $1M |
| Cost & Expenses | $10M |
| OPERATING INCOME | $7M |
| Interest Income | $24M |
| Interest Expense | $9M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | $515.7K |
| Net Income from Continuing Ops | $7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $7M |
| D&A | $0 |
| EBIT | $7M |
| EBITDA | $7M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $8M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $2M |
| SG&A Expenses | $2M |
| Other Expenses | -$306.5K |
| Operating Expenses | $1M |
| Cost & Expenses | $10M |
| OPERATING INCOME | $7M |
| Interest Income | $24M |
| Interest Expense | $9M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | $515.7K |
| Net Income from Continuing Ops | $7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $7M |
| D&A | $0 |
| EBIT | $7M |
| EBITDA | $7M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $7M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$24M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$20M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | -$4M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$11M |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$11M |
| FREE CASH FLOW | -$20M |
| Net Change in Cash | -$31M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $9M |
| Short-Term Investments | $0 |
| Net Receivables | $8M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $17M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.0B |
| TOTAL NON-CURRENT ASSETS | $1.0B |
| TOTAL ASSETS | $1.0B |
| Account Payables | $10M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $10M |
| Long-Term Debt | $632M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $641M |
| TOTAL LIABILITIES | $651M |
| Common Stock | $28.9K |
| Additional Paid-In Capital | $399M |
| Retained Earnings | -$22M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $378M |
| Minority Interest | $0 |
| TOTAL EQUITY | $378M |
| TOTAL LIABILITIES & EQUITY | $1.0B |
| Total Debt | $632M |
| Net Debt | $623M |
