| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $90M | $99M | $84M | -9.6% | 7.3% |
| Op. Income | -$15M | $69.0K | $21M | -21771.0% | -171.9% |
| Gross Margin | -0.4% | 32.5% | 44.2% | -32.9pp | -44.6pp |
| Net Margin | -16.6% | -0.8% | 14.9% | -15.8pp | -31.6pp |
| EPS (Diluted) | $-0.15 | $-0.01 | $0.12 | -1775.0% | -225.0% |
| Free Cash Flow | -$12M | $37M | $30M | -132.7% | -140.1% |
| Item | Amount |
|---|---|
| REVENUE | $90M |
| Cost of Revenue | $90M |
| GROSS PROFIT | -$350.0K |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $15M |
| Other Expenses | $0 |
| Operating Expenses | $15M |
| Cost & Expenses | $105M |
| OPERATING INCOME | -$15M |
| Interest Income | $77.0K |
| Interest Expense | $439.0K |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$17M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | -$15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$15M |
| D&A | $24M |
| EBIT | -$15M |
| EBITDA | $9M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$15M |
| Depreciation & Amortization | $20M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | -$6M |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$872.0K |
| OPERATING CASH FLOW | $6M |
| Capital Expenditure | -$18M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$9M |
| NET CASH FROM INVESTING | -$27M |
| Net Debt Issuance | -$537.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$619.0K |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | -$12M |
| Net Change in Cash | -$22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $8M |
| Short-Term Investments | $0 |
| Net Receivables | $56M |
| Inventory | $0 |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $73M |
| PP&E (Net) | $0 |
| Goodwill | $41M |
| Intangible Assets | $39M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $376M |
| TOTAL NON-CURRENT ASSETS | $457M |
| TOTAL ASSETS | $530M |
| Account Payables | $44M |
| Short-Term Debt | $8M |
| Deferred Revenue | $9M |
| Other Current Liabilities | $22M |
| TOTAL CURRENT LIABILITIES | $84M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $42M |
| Other Non-Current Liabilities | $12M |
| TOTAL NON-CURRENT LIABILITIES | $57M |
| TOTAL LIABILITIES | $141M |
| Common Stock | $10.0K |
| Additional Paid-In Capital | $154M |
| Retained Earnings | $295M |
| Treasury Stock | -$57M |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $389M |
| Minority Interest | -$197.0K |
| TOTAL EQUITY | $389M |
| TOTAL LIABILITIES & EQUITY | $530M |
| Total Debt | $11M |
| Net Debt | $2M |
