| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $329M | $345M | $292M | -4.7% | 12.5% |
| Op. Income | -$41M | -$13M | -$12M | -225.4% | -240.2% |
| Gross Margin | 20.4% | 30.1% | 33.2% | -9.8pp | -12.8pp |
| Net Margin | -9.3% | 3.7% | -15.2% | -13.0pp | 6.0pp |
| EPS (Diluted) | $-0.26 | $-0.02 | $-0.26 | -1132.2% | 0.0% |
| Free Cash Flow | -$26M | -$38M | -$19M | 32.6% | -33.5% |
| Item | Amount |
|---|---|
| REVENUE | $329M |
| Cost of Revenue | $262M |
| GROSS PROFIT | $67M |
| R&D Expenses | $10M |
| Selling & Marketing | $62M |
| General & Administrative | $36M |
| SG&A Expenses | $98M |
| Other Expenses | $0 |
| Operating Expenses | $108M |
| Cost & Expenses | $370M |
| OPERATING INCOME | -$41M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$38M |
| Income Tax Expense | -$7M |
| Net Income from Continuing Ops | -$30M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$30M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$48M |
| D&A | $4M |
| EBIT | -$26M |
| EBITDA | -$22M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$30M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | -$9M |
| Other Non-Cash Items | -$13M |
| Change in Working Capital | $22M |
| OPERATING CASH FLOW | -$22M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$3M |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | $7M |
| Common Stock Repurchased | -$2M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$72.0K |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | -$26M |
| Net Change in Cash | -$21M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $11M |
| Short-Term Investments | $0 |
| Net Receivables | $298M |
| Inventory | $0 |
| Other Current Assets | $23M |
| TOTAL CURRENT ASSETS | $332M |
| PP&E (Net) | $38M |
| Goodwill | $29M |
| Intangible Assets | $17M |
| Long-Term Investments | $788M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $875M |
| TOTAL ASSETS | $1.2B |
| Account Payables | $35M |
| Short-Term Debt | $68M |
| Deferred Revenue | $2M |
| Other Current Liabilities | $56M |
| TOTAL CURRENT LIABILITIES | $216M |
| Long-Term Debt | $325M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $29M |
| Other Non-Current Liabilities | $66M |
| TOTAL NON-CURRENT LIABILITIES | $444M |
| TOTAL LIABILITIES | $660M |
| Common Stock | $2M |
| Additional Paid-In Capital | $556M |
| Retained Earnings | -$253M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $547M |
| Minority Interest | $0 |
| TOTAL EQUITY | $547M |
| TOTAL LIABILITIES & EQUITY | $1.2B |
| Total Debt | $423M |
| Net Debt | $412M |
