| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $103M | $111M | $102M | -7.5% | 0.6% |
| Op. Income | $4M | $6M | $7M | -30.9% | -45.4% |
| Gross Margin | 39.5% | 35.9% | 36.6% | 3.6pp | 2.9pp |
| Net Margin | -5.9% | -2.5% | -0.5% | -3.5pp | -5.5pp |
| EPS (Diluted) | $-0.08 | $-0.04 | $0.03 | -125.4% | -432.5% |
| Free Cash Flow | $0 | $0 | $0 | — | — |
| Item | Amount |
|---|---|
| REVENUE | $103M |
| Cost of Revenue | $62M |
| GROSS PROFIT | $41M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | -$3M |
| Other Expenses | $39M |
| Operating Expenses | $37M |
| Cost & Expenses | $99M |
| OPERATING INCOME | $4M |
| Interest Income | $9.3K |
| Interest Expense | $93.4K |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$6M |
| D&A | $17M |
| EBIT | $5M |
| EBITDA | $21M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$6M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $6M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $0 |
| 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 | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | $0 |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $53M |
| Short-Term Investments | $14M |
| Net Receivables | $132M |
| Inventory | $42M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $282M |
| PP&E (Net) | $507M |
| Goodwill | $0 |
| Intangible Assets | $7M |
| Long-Term Investments | $13M |
| Tax Assets | $15M |
| Other Non-Current Assets | $59M |
| TOTAL NON-CURRENT ASSETS | $601M |
| TOTAL ASSETS | $883M |
| Account Payables | $129M |
| Short-Term Debt | $79M |
| Deferred Revenue | $56M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $294M |
| Long-Term Debt | $300M |
| Deferred Revenue NC | $35M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $376M |
| TOTAL LIABILITIES | $670M |
| Common Stock | $46M |
| Additional Paid-In Capital | $210M |
| Retained Earnings | -$83M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $40M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $214M |
| Minority Interest | $0 |
| TOTAL EQUITY | $214M |
| TOTAL LIABILITIES & EQUITY | $883M |
| Total Debt | $420M |
| Net Debt | $366M |
