| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $335M | $331M | $340M | 1.1% | -1.6% |
| Op. Income | -$729.0K | $9M | $7M | -108.5% | -110.4% |
| Gross Margin | 28.4% | 32.8% | 30.4% | -4.4pp | -2.0pp |
| Net Margin | -6.5% | 0.0% | -2.6% | -6.5pp | -3.9pp |
| EPS (Diluted) | $-0.56 | $0.00 | $-0.23 | -280100.0% | -143.5% |
| Free Cash Flow | $98M | $9M | $50M | 1022.3% | 97.9% |
| Item | Amount |
|---|---|
| REVENUE | $335M |
| Cost of Revenue | $240M |
| GROSS PROFIT | $95M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $63M |
| SG&A Expenses | $63M |
| Other Expenses | $33M |
| Operating Expenses | $96M |
| Cost & Expenses | $336M |
| OPERATING INCOME | -$729.0K |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$21M |
| INCOME BEFORE TAX | -$22M |
| Income Tax Expense | -$58.0K |
| Net Income from Continuing Ops | -$22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$22M |
| D&A | $10M |
| EBIT | -$19M |
| EBITDA | -$9M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$22M |
| Depreciation & Amortization | $10M |
| Stock-Based Compensation | $661.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $18M |
| Change in Working Capital | $95M |
| OPERATING CASH FLOW | $102M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | -$11.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $11.0K |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | -$89M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$10M |
| NET CASH FROM FINANCING | -$99M |
| FREE CASH FLOW | $98M |
| Net Change in Cash | -$587.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2M |
| Short-Term Investments | $0 |
| Net Receivables | $4M |
| Inventory | $313M |
| Other Current Assets | $19M |
| TOTAL CURRENT ASSETS | $338M |
| PP&E (Net) | $423M |
| Goodwill | $1M |
| Intangible Assets | $211.0K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $425M |
| TOTAL ASSETS | $763M |
| Account Payables | $45M |
| Short-Term Debt | $48M |
| Deferred Revenue | $42M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $249M |
| Long-Term Debt | $44M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $325M |
| TOTAL LIABILITIES | $574M |
| Common Stock | $386.0K |
| Additional Paid-In Capital | $89M |
| Retained Earnings | $99M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $189M |
| Minority Interest | $0 |
| TOTAL EQUITY | $189M |
| TOTAL LIABILITIES & EQUITY | $763M |
| Total Debt | $427M |
| Net Debt | $425M |
