| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $335M | $340M | $171M | -1.4% | 96.4% |
| Op. Income | -$32M | -$35M | -$289M | 9.6% | 89.0% |
| Gross Margin | 22.2% | 16.9% | -80.7% | 5.2pp | 102.8pp |
| Net Margin | -39.4% | -14.7% | -183.3% | -24.7pp | 143.9pp |
| EPS (Diluted) | $-2.21 | $-0.84 | $-5.00 | -163.1% | 55.8% |
| Free Cash Flow | $43M | $23M | $79.0K | 90.1% | 54755.7% |
| Item | Amount |
|---|---|
| REVENUE | $335M |
| Cost of Revenue | $261M |
| GROSS PROFIT | $74M |
| R&D Expenses | $52M |
| Selling & Marketing | $31M |
| General & Administrative | $26M |
| SG&A Expenses | $57M |
| Other Expenses | -$2M |
| Operating Expenses | $106M |
| Cost & Expenses | $367M |
| OPERATING INCOME | -$32M |
| Interest Income | $0 |
| Interest Expense | $78M |
| Other Income/Expenses | -$101M |
| INCOME BEFORE TAX | -$133M |
| Income Tax Expense | -$564.0K |
| Net Income from Continuing Ops | -$132M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$132M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$132M |
| D&A | $611.0K |
| EBIT | -$55M |
| EBITDA | -$54M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$132M |
| Depreciation & Amortization | $611.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $215.0K |
| Other Non-Cash Items | $116M |
| Change in Working Capital | $68M |
| OPERATING CASH FLOW | $53M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | $7M |
| Purchases of Investments | -$17M |
| Sales/Maturities of Investments | $31M |
| Other Investing Activities | -$3M |
| NET CASH FROM INVESTING | $8M |
| Net Debt Issuance | -$342M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $343M |
| NET CASH FROM FINANCING | $647.0K |
| FREE CASH FLOW | $43M |
| Net Change in Cash | $53M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $455M |
| Short-Term Investments | $38M |
| Net Receivables | $267M |
| Inventory | $553M |
| Other Current Assets | $427M |
| TOTAL CURRENT ASSETS | $1.7B |
| PP&E (Net) | $318M |
| Goodwill | $50M |
| Intangible Assets | $7M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $68M |
| TOTAL NON-CURRENT ASSETS | $442M |
| TOTAL ASSETS | $2.2B |
| Account Payables | $272M |
| Short-Term Debt | $0 |
| Deferred Revenue | $70M |
| Other Current Liabilities | $461M |
| TOTAL CURRENT LIABILITIES | $803M |
| Long-Term Debt | $368M |
| Deferred Revenue NC | $293M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $234M |
| TOTAL NON-CURRENT LIABILITIES | $951M |
| TOTAL LIABILITIES | $1.8B |
| Common Stock | $6.0K |
| Additional Paid-In Capital | $1.9B |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$12M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $427M |
| Minority Interest | $0 |
| TOTAL EQUITY | $427M |
| TOTAL LIABILITIES & EQUITY | $2.2B |
| Total Debt | $423M |
| Net Debt | -$32M |
