| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $25M | $14M | $22M | 82.7% | 16.5% |
| Op. Income | $2M | -$6M | $5M | 137.5% | -54.8% |
| Gross Margin | 33.2% | 0.6% | 44.0% | 32.5pp | -10.8pp |
| Net Margin | 6.4% | -33.9% | 17.5% | 40.3pp | -11.2pp |
| EPS (Diluted) | $0.04 | $-0.12 | $0.10 | 133.3% | -58.2% |
| Free Cash Flow | $48M | $532.0K | $3M | 8872.7% | 1421.2% |
| Item | Amount |
|---|---|
| REVENUE | $25M |
| Cost of Revenue | $17M |
| GROSS PROFIT | $8M |
| R&D Expenses | $0 |
| Selling & Marketing | $435.0K |
| General & Administrative | $5M |
| SG&A Expenses | $6M |
| Other Expenses | $494.0K |
| Operating Expenses | $6M |
| Cost & Expenses | $23M |
| OPERATING INCOME | $2M |
| Interest Income | $0 |
| Interest Expense | $107.0K |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $564.0K |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $649.0K |
| EBIT | $2M |
| EBITDA | $3M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $25M |
| Cost of Revenue | $17M |
| GROSS PROFIT | $8M |
| R&D Expenses | $0 |
| Selling & Marketing | $435.0K |
| General & Administrative | $5M |
| SG&A Expenses | $6M |
| Other Expenses | $494.0K |
| Operating Expenses | $6M |
| Cost & Expenses | $23M |
| OPERATING INCOME | $2M |
| Interest Income | $0 |
| Interest Expense | $107.0K |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $564.0K |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $649.0K |
| EBIT | $2M |
| EBITDA | $3M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | $649.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $878.0K |
| Change in Working Capital | $45M |
| OPERATING CASH FLOW | $48M |
| Capital Expenditure | -$540.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$11M |
| Sales/Maturities of Investments | -$639.0K |
| Other Investing Activities | $21M |
| NET CASH FROM INVESTING | $9M |
| Net Debt Issuance | $978.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $978.0K |
| FREE CASH FLOW | $48M |
| Net Change in Cash | $33M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $20M |
| Short-Term Investments | $273M |
| Net Receivables | $91M |
| Inventory | $0 |
| Other Current Assets | $192M |
| TOTAL CURRENT ASSETS | $576M |
| PP&E (Net) | $13M |
| Goodwill | $2M |
| Intangible Assets | $7M |
| Long-Term Investments | $2M |
| Tax Assets | $2M |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $31M |
| TOTAL ASSETS | $607M |
| Account Payables | $250M |
| Short-Term Debt | $1M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $251M |
| TOTAL CURRENT LIABILITIES | $506M |
| Long-Term Debt | $4M |
| Deferred Revenue NC | $50.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $9M |
| TOTAL LIABILITIES | $516M |
| Common Stock | $415.0K |
| Additional Paid-In Capital | $47M |
| Retained Earnings | $46M |
| Treasury Stock | -$3M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $91M |
| Minority Interest | $970.0K |
| TOTAL EQUITY | $92M |
| TOTAL LIABILITIES & EQUITY | $607M |
| Total Debt | $8M |
| Net Debt | -$12M |
