| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $148M | $136M | $107M | 9.2% | 38.6% |
| Op. Income | $17M | $19M | $16M | -6.8% | 5.6% |
| Gross Margin | 31.6% | 37.0% | 37.6% | -5.4pp | -5.9pp |
| Net Margin | 5.5% | 8.7% | 7.3% | -3.3pp | -1.8pp |
| EPS (Diluted) | $0.05 | $0.07 | $0.05 | -31.6% | 2.1% |
| Free Cash Flow | -$11M | $9M | $12M | -225.5% | -190.3% |
| Item | Amount |
|---|---|
| REVENUE | $148M |
| Cost of Revenue | $101M |
| GROSS PROFIT | $47M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $34M |
| SG&A Expenses | $34M |
| Other Expenses | -$5M |
| Operating Expenses | $30M |
| Cost & Expenses | $131M |
| OPERATING INCOME | $17M |
| Interest Income | $73.0K |
| Interest Expense | $3M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | $14M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $2M |
| EBIT | $16M |
| EBITDA | $18M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $148M |
| Cost of Revenue | $101M |
| GROSS PROFIT | $47M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $34M |
| SG&A Expenses | $34M |
| Other Expenses | -$5M |
| Operating Expenses | $30M |
| Cost & Expenses | $131M |
| OPERATING INCOME | $17M |
| Interest Income | $73.0K |
| Interest Expense | $3M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | $14M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $2M |
| EBIT | $16M |
| EBITDA | $18M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $8M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $6M |
| Other Non-Cash Items | $5M |
| Change in Working Capital | -$29M |
| OPERATING CASH FLOW | -$4M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$7M |
| Net Debt Issuance | $10M |
| Common Stock Repurchased | -$18.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $10M |
| FREE CASH FLOW | -$11M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7M |
| Short-Term Investments | $0 |
| Net Receivables | $151M |
| Inventory | $90M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $258M |
| PP&E (Net) | $99M |
| Goodwill | $70M |
| Intangible Assets | $33M |
| Long-Term Investments | $0 |
| Tax Assets | $438M |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $646M |
| TOTAL ASSETS | $904M |
| Account Payables | $65M |
| Short-Term Debt | $0 |
| Deferred Revenue | $37M |
| Other Current Liabilities | $25M |
| TOTAL CURRENT LIABILITIES | $127M |
| Long-Term Debt | $175M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $177M |
| TOTAL LIABILITIES | $304M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $132M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $468M |
| TOTAL STOCKHOLDERS' EQUITY | $600M |
| Minority Interest | $0 |
| TOTAL EQUITY | $600M |
| TOTAL LIABILITIES & EQUITY | $904M |
| Total Debt | $175M |
| Net Debt | $168M |
