| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $41M | $39M | $38M | 7.2% | 9.6% |
| Op. Income | -$6M | $715.0K | -$1M | -927.8% | -296.7% |
| Gross Margin | 18.6% | 23.5% | 22.3% | -4.9pp | -3.8pp |
| Net Margin | -21.2% | -0.0% | -0.4% | -21.2pp | -20.8pp |
| EPS (Diluted) | $-0.37 | $0.00 | $-0.01 | -Infinity% | -5965.6% |
| Free Cash Flow | -$5M | -$8M | -$1M | 44.1% | -351.5% |
| Item | Amount |
|---|---|
| REVENUE | $41M |
| Cost of Revenue | $34M |
| GROSS PROFIT | $8M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $9M |
| Other Expenses | $4M |
| Operating Expenses | $14M |
| Cost & Expenses | $47M |
| OPERATING INCOME | -$6M |
| Interest Income | $0 |
| Interest Expense | $663.0K |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | -$7M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$9M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$9M |
| D&A | $404.0K |
| EBIT | -$6M |
| EBITDA | -$6M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$9M |
| Depreciation & Amortization | $483.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $74.0K |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | -$575.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$575.0K |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | -$5M |
| Net Change in Cash | -$6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $8M |
| Short-Term Investments | $0 |
| Net Receivables | $41M |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $52M |
| PP&E (Net) | $4M |
| Goodwill | $856.0K |
| Intangible Assets | $742.0K |
| Long-Term Investments | $0 |
| Tax Assets | $2M |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $10M |
| TOTAL ASSETS | $62M |
| Account Payables | $13M |
| Short-Term Debt | $25M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $43M |
| Long-Term Debt | $1M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $2M |
| TOTAL LIABILITIES | $45M |
| Common Stock | $237.0K |
| Additional Paid-In Capital | $20M |
| Retained Earnings | -$844.0K |
| Treasury Stock | -$2M |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $17M |
| Minority Interest | $0 |
| TOTAL EQUITY | $17M |
| TOTAL LIABILITIES & EQUITY | $62M |
| Total Debt | $26M |
| Net Debt | $18M |
