| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $80M | $57M | $94M | 41.7% | -14.7% |
| Op. Income | $5M | -$6M | $6M | 187.0% | -16.4% |
| Gross Margin | 37.4% | 28.6% | 36.2% | 8.7pp | 1.2pp |
| Net Margin | 2.1% | -5.2% | 3.6% | 7.3pp | -1.5pp |
| EPS (Diluted) | $0.08 | $-0.14 | $0.16 | 160.1% | -47.4% |
| Free Cash Flow | -$16M | -$3M | -$25M | -355.7% | 35.5% |
| Item | Amount |
|---|---|
| REVENUE | $80M |
| Cost of Revenue | $50M |
| GROSS PROFIT | $30M |
| R&D Expenses | $4M |
| Selling & Marketing | $13M |
| General & Administrative | $8M |
| SG&A Expenses | $20M |
| Other Expenses | $476.0K |
| Operating Expenses | $25M |
| Cost & Expenses | $75M |
| OPERATING INCOME | $5M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $254.0K |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $3M |
| EBIT | $6M |
| EBITDA | $9M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $80M |
| Cost of Revenue | $50M |
| GROSS PROFIT | $30M |
| R&D Expenses | $4M |
| Selling & Marketing | $13M |
| General & Administrative | $8M |
| SG&A Expenses | $20M |
| Other Expenses | $476.0K |
| Operating Expenses | $25M |
| Cost & Expenses | $75M |
| OPERATING INCOME | $5M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $2M |
| Income Tax Expense | $254.0K |
| Net Income from Continuing Ops | $2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2M |
| D&A | $3M |
| EBIT | $6M |
| EBITDA | $9M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | -$66.0K |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$23M |
| OPERATING CASH FLOW | -$15M |
| Capital Expenditure | -$673.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$673.0K |
| Net Debt Issuance | $28M |
| Common Stock Repurchased | -$10M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$546.0K |
| NET CASH FROM FINANCING | $17M |
| FREE CASH FLOW | -$16M |
| Net Change in Cash | $552.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $12M |
| Short-Term Investments | $0 |
| Net Receivables | $57M |
| Inventory | $95M |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $178M |
| PP&E (Net) | $4M |
| Goodwill | $50M |
| Intangible Assets | $36M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $100M |
| TOTAL ASSETS | $278M |
| Account Payables | $47M |
| Short-Term Debt | $42M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $112M |
| Long-Term Debt | $48M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $8M |
| TOTAL NON-CURRENT LIABILITIES | $56M |
| TOTAL LIABILITIES | $168M |
| Common Stock | $19.0K |
| Additional Paid-In Capital | $229M |
| Retained Earnings | -$120M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $111M |
| Minority Interest | $0 |
| TOTAL EQUITY | $111M |
| TOTAL LIABILITIES & EQUITY | $278M |
| Total Debt | $90M |
| Net Debt | $78M |
