| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $99M | $98M | $92M | 0.1% | 6.8% |
| Op. Income | -$10M | -$3M | -$10M | -232.7% | 4.7% |
| Gross Margin | 35.4% | 22.5% | 24.0% | 12.9pp | 11.3pp |
| Net Margin | -23.4% | -15.9% | -24.2% | -7.5pp | 0.8pp |
| EPS (Diluted) | $-2.08 | $-1.41 | $-2.03 | -47.5% | -2.5% |
| Free Cash Flow | -$2M | $3M | -$19M | -180.3% | 87.9% |
| Item | Amount |
|---|---|
| REVENUE | $99M |
| Cost of Revenue | $64M |
| GROSS PROFIT | $35M |
| R&D Expenses | $5M |
| Selling & Marketing | $12M |
| General & Administrative | $10M |
| SG&A Expenses | $22M |
| Other Expenses | $18M |
| Operating Expenses | $44M |
| Cost & Expenses | $108M |
| OPERATING INCOME | -$10M |
| Interest Income | $527.0K |
| Interest Expense | $14M |
| Other Income/Expenses | -$11M |
| INCOME BEFORE TAX | -$21M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$23M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$23M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$23M |
| D&A | $11M |
| EBIT | -$7M |
| EBITDA | $5M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$23M |
| Depreciation & Amortization | $13M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $17M |
| Change in Working Capital | -$6M |
| OPERATING CASH FLOW | $2M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $7M |
| NET CASH FROM INVESTING | $4M |
| Net Debt Issuance | -$3M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$423.0K |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $54M |
| Short-Term Investments | $0 |
| Net Receivables | $28M |
| Inventory | $4M |
| Other Current Assets | $105M |
| TOTAL CURRENT ASSETS | $209M |
| PP&E (Net) | $342M |
| Goodwill | $130M |
| Intangible Assets | $21M |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $31M |
| TOTAL NON-CURRENT ASSETS | $527M |
| TOTAL ASSETS | $735M |
| Account Payables | $10M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $154M |
| TOTAL CURRENT LIABILITIES | $195M |
| Long-Term Debt | $480M |
| Deferred Revenue NC | $22M |
| Deferred Tax Liabilities | $3M |
| Other Non-Current Liabilities | $132M |
| TOTAL NON-CURRENT LIABILITIES | $685M |
| TOTAL LIABILITIES | $880M |
| Common Stock | $38M |
| Additional Paid-In Capital | $22M |
| Retained Earnings | -$204M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$431.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$144M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$144M |
| TOTAL LIABILITIES & EQUITY | $735M |
| Total Debt | $534M |
| Net Debt | $480M |
