| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $21M | $12M | $18M | 76.3% | 17.7% |
| Op. Income | $2M | -$2M | $2M | 213.2% | 7.8% |
| Gross Margin | 20.6% | 7.1% | 24.7% | 13.6pp | -4.0pp |
| Net Margin | 7.5% | 14.0% | 25.0% | -6.5pp | -17.5pp |
| EPS (Diluted) | $0.06 | $0.06 | $0.17 | -5.5% | -65.5% |
| Free Cash Flow | -$16M | -$15M | -$7M | -11.6% | -125.8% |
| Item | Amount |
|---|---|
| REVENUE | $21M |
| Cost of Revenue | $17M |
| GROSS PROFIT | $4M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $2M |
| Operating Expenses | $2M |
| Cost & Expenses | $19M |
| OPERATING INCOME | $2M |
| Interest Income | $165.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | $3M |
| 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 | $2M |
| EBIT | $2M |
| EBITDA | $2M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $21M |
| Cost of Revenue | $17M |
| GROSS PROFIT | $4M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $2M |
| Operating Expenses | $2M |
| Cost & Expenses | $19M |
| OPERATING INCOME | $2M |
| Interest Income | $165.0K |
| Interest Expense | $0 |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | $3M |
| 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 | $2M |
| EBIT | $2M |
| EBITDA | $2M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $554.0K |
| Deferred Income Tax | $813.0K |
| Other Non-Cash Items | $6M |
| Change in Working Capital | -$814.0K |
| OPERATING CASH FLOW | $10M |
| Capital Expenditure | -$27M |
| Acquisitions (Net) | -$111.0K |
| Purchases of Investments | -$54M |
| Sales/Maturities of Investments | $2M |
| Other Investing Activities | $72M |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$16M |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $10M |
| Short-Term Investments | $15M |
| Net Receivables | $9M |
| Inventory | $3M |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $39M |
| PP&E (Net) | $59M |
| Goodwill | $0 |
| Intangible Assets | $63M |
| Long-Term Investments | $30M |
| Tax Assets | $0 |
| Other Non-Current Assets | $439M |
| TOTAL NON-CURRENT ASSETS | $591M |
| TOTAL ASSETS | $630M |
| Account Payables | $5M |
| Short-Term Debt | $0 |
| Deferred Revenue | $2M |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $9M |
| Long-Term Debt | $94M |
| Deferred Revenue NC | $11M |
| Deferred Tax Liabilities | $10M |
| Other Non-Current Liabilities | $16M |
| TOTAL NON-CURRENT LIABILITIES | $130M |
| TOTAL LIABILITIES | $140M |
| Common Stock | $13M |
| Additional Paid-In Capital | $350M |
| Retained Earnings | $112M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$177.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $475M |
| Minority Interest | $15M |
| TOTAL EQUITY | $491M |
| TOTAL LIABILITIES & EQUITY | $630M |
| Total Debt | $94M |
| Net Debt | $84M |
