| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $293M | $283M | $258M | 3.4% | 13.5% |
| Op. Income | -$23M | -$24M | -$28M | 4.1% | 18.3% |
| Gross Margin | 42.6% | 43.0% | 46.9% | -0.4pp | -4.3pp |
| Net Margin | -7.0% | -1.7% | -9.0% | -5.4pp | 1.9pp |
| EPS (Diluted) | $-0.52 | $-0.12 | $-0.58 | -333.3% | 10.3% |
| Free Cash Flow | $18M | $51M | -$21M | -64.4% | 187.8% |
| Item | Amount |
|---|---|
| REVENUE | $293M |
| Cost of Revenue | $168M |
| GROSS PROFIT | $125M |
| R&D Expenses | $94M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $53M |
| Operating Expenses | $148M |
| Cost & Expenses | $316M |
| OPERATING INCOME | -$23M |
| Interest Income | $0 |
| Interest Expense | $500.0K |
| Other Income/Expenses | $500.0K |
| INCOME BEFORE TAX | -$23M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | -$21M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$21M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$21M |
| D&A | $43M |
| EBIT | -$22M |
| EBITDA | $21M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$21M |
| Depreciation & Amortization | $43M |
| Stock-Based Compensation | $37M |
| Deferred Income Tax | -$4M |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$27M |
| OPERATING CASH FLOW | $30M |
| Capital Expenditure | -$12M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $61M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $49M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$7M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$11M |
| NET CASH FROM FINANCING | -$10M |
| FREE CASH FLOW | $18M |
| Net Change in Cash | $68M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $460M |
| Short-Term Investments | $0 |
| Net Receivables | $120M |
| Inventory | $143M |
| Other Current Assets | $27M |
| TOTAL CURRENT ASSETS | $749M |
| PP&E (Net) | $120M |
| Goodwill | $872M |
| Intangible Assets | $366M |
| Long-Term Investments | $0 |
| Tax Assets | $413M |
| Other Non-Current Assets | $57M |
| TOTAL NON-CURRENT ASSETS | $1.8B |
| TOTAL ASSETS | $2.6B |
| Account Payables | $93M |
| Short-Term Debt | $0 |
| Deferred Revenue | $69M |
| Other Current Liabilities | $27M |
| TOTAL CURRENT LIABILITIES | $262M |
| Long-Term Debt | $835M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $79M |
| TOTAL NON-CURRENT LIABILITIES | $915M |
| TOTAL LIABILITIES | $1.2B |
| Common Stock | $100.0K |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | $1.2B |
| Treasury Stock | -$1.0B |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.4B |
| TOTAL LIABILITIES & EQUITY | $2.6B |
| Total Debt | $835M |
| Net Debt | $376M |
