| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $283M | $267M | $247M | 6.1% | 14.3% |
| Op. Income | -$24M | -$26M | -$31M | 8.0% | 22.2% |
| Gross Margin | 43.0% | 43.4% | 45.8% | -0.5pp | -2.9pp |
| Net Margin | -1.7% | -8.2% | 84.2% | 6.5pp | -85.9pp |
| EPS (Diluted) | $-0.12 | $-0.56 | $5.22 | 78.6% | -102.3% |
| Free Cash Flow | $51M | $58M | $54M | -12.8% | -5.4% |
| Item | Amount |
|---|---|
| REVENUE | $283M |
| Cost of Revenue | $161M |
| GROSS PROFIT | $122M |
| R&D Expenses | $94M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $52M |
| Operating Expenses | $146M |
| Cost & Expenses | $307M |
| OPERATING INCOME | -$24M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$26M |
| Income Tax Expense | -$21M |
| Net Income from Continuing Ops | -$5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$5M |
| D&A | $41M |
| EBIT | -$23M |
| EBITDA | $18M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$5M |
| Depreciation & Amortization | $41M |
| Stock-Based Compensation | $31M |
| Deferred Income Tax | -$22M |
| Other Non-Cash Items | $8M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $57M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | -$2M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$9M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$16M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$18M |
| FREE CASH FLOW | $51M |
| Net Change in Cash | $31M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $392M |
| Short-Term Investments | $61M |
| Net Receivables | $130M |
| Inventory | $140M |
| Other Current Assets | $30M |
| TOTAL CURRENT ASSETS | $752M |
| PP&E (Net) | $117M |
| Goodwill | $872M |
| Intangible Assets | $402M |
| Long-Term Investments | $0 |
| Tax Assets | $409M |
| Other Non-Current Assets | $33M |
| TOTAL NON-CURRENT ASSETS | $1.8B |
| TOTAL ASSETS | $2.6B |
| Account Payables | $99M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $59M |
| TOTAL CURRENT LIABILITIES | $271M |
| Long-Term Debt | $835M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $84M |
| TOTAL NON-CURRENT LIABILITIES | $919M |
| 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 | $880M |
| Net Debt | $489M |
