| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $251M | $237M | $193M | 6.0% | 30.1% |
| Op. Income | $30M | $18M | $3M | 63.4% | 1058.9% |
| Gross Margin | 52.0% | 51.0% | 47.2% | 0.9pp | 4.7pp |
| Net Margin | 15.6% | -3.2% | -332.9% | 18.8pp | 348.5pp |
| EPS (Diluted) | $0.43 | $-0.10 | $-9.98 | 530.0% | 104.3% |
| Free Cash Flow | $30M | $35M | $11M | -12.8% | 175.4% |
| Item | Amount |
|---|---|
| REVENUE | $251M |
| Cost of Revenue | $121M |
| GROSS PROFIT | $130M |
| R&D Expenses | $47M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $54M |
| Other Expenses | $0 |
| Operating Expenses | $100M |
| Cost & Expenses | $221M |
| OPERATING INCOME | $30M |
| Interest Income | $800.0K |
| Interest Expense | $13M |
| Other Income/Expenses | -$24M |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | -$33M |
| Net Income from Continuing Ops | $39M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $39M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $39M |
| D&A | $12M |
| EBIT | $30M |
| EBITDA | $42M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $251M |
| Cost of Revenue | $121M |
| GROSS PROFIT | $130M |
| R&D Expenses | $47M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $54M |
| Other Expenses | $0 |
| Operating Expenses | $100M |
| Cost & Expenses | $221M |
| OPERATING INCOME | $30M |
| Interest Income | $800.0K |
| Interest Expense | $13M |
| Other Income/Expenses | -$24M |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | -$33M |
| Net Income from Continuing Ops | $39M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $39M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $39M |
| D&A | $12M |
| EBIT | $30M |
| EBITDA | $42M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $39M |
| Depreciation & Amortization | $12M |
| Stock-Based Compensation | $17M |
| Deferred Income Tax | -$21M |
| Other Non-Cash Items | $15M |
| Change in Working Capital | -$28M |
| OPERATING CASH FLOW | $33M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$5M |
| NET CASH FROM INVESTING | -$8M |
| Net Debt Issuance | -$651M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $642M |
| NET CASH FROM FINANCING | -$10M |
| FREE CASH FLOW | $30M |
| Net Change in Cash | $15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $152M |
| Short-Term Investments | $13M |
| Net Receivables | $163M |
| Inventory | $164M |
| Other Current Assets | $56M |
| TOTAL CURRENT ASSETS | $585M |
| PP&E (Net) | $126M |
| Goodwill | $533M |
| Intangible Assets | $33M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $141M |
| TOTAL NON-CURRENT ASSETS | $834M |
| TOTAL ASSETS | $1.4B |
| Account Payables | $59M |
| Short-Term Debt | $46M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $70M |
| TOTAL CURRENT LIABILITIES | $283M |
| Long-Term Debt | $506M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $88M |
| TOTAL NON-CURRENT LIABILITIES | $594M |
| TOTAL LIABILITIES | $877M |
| Common Stock | $990.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$396M |
| Treasury Stock | -$521M |
| Accum. Other Comp. Income | -$12M |
| Other Equity | $1.5B |
| TOTAL STOCKHOLDERS' EQUITY | $542M |
| Minority Interest | $0 |
| TOTAL EQUITY | $542M |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $558M |
| Net Debt | $406M |
