| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $103M | $76M | $114M | 36.5% | -9.6% |
| Op. Income | -$2M | -$19M | -$2M | 89.4% | 16.7% |
| Gross Margin | 20.4% | 16.3% | 28.1% | 4.1pp | -7.7pp |
| Net Margin | -3.6% | -26.6% | -6.7% | 23.0pp | 3.1pp |
| EPS (Diluted) | $-0.16 | $-0.90 | $-0.59 | 82.2% | 72.9% |
| Free Cash Flow | -$27M | -$7M | -$13M | -260.2% | -104.7% |
| Item | Amount |
|---|---|
| REVENUE | $103M |
| Cost of Revenue | $82M |
| GROSS PROFIT | $21M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $19M |
| SG&A Expenses | $19M |
| Other Expenses | $4M |
| Operating Expenses | $23M |
| Cost & Expenses | $105M |
| OPERATING INCOME | -$2M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | $23.0K |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $2M |
| EBIT | -$2M |
| EBITDA | $68.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$9M |
| Change in Working Capital | -$15M |
| OPERATING CASH FLOW | -$26M |
| Capital Expenditure | -$901.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $10M |
| NET CASH FROM INVESTING | $9M |
| Net Debt Issuance | $15M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $5M |
| NET CASH FROM FINANCING | $20M |
| FREE CASH FLOW | -$27M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6M |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $89M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $106M |
| PP&E (Net) | $356M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | -$233M |
| TOTAL NON-CURRENT ASSETS | $123M |
| TOTAL ASSETS | $229M |
| Account Payables | $55M |
| Short-Term Debt | $2M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $114M |
| Long-Term Debt | $78M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $160M |
| TOTAL LIABILITIES | $273M |
| Common Stock | $188M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$232M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$44M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$44M |
| TOTAL LIABILITIES & EQUITY | $229M |
| Total Debt | $193M |
| Net Debt | $186M |
