| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $42M | $44M | $70M | -4.7% | -40.2% |
| Op. Income | -$931.0K | $2M | $4M | -141.6% | -124.5% |
| Gross Margin | 11.1% | 17.8% | 11.3% | -6.7pp | -0.2pp |
| Net Margin | -3.6% | 3.4% | 3.8% | -6.9pp | -7.4pp |
| EPS (Diluted) | $-0.06 | $0.06 | $0.10 | -201.0% | -160.6% |
| Free Cash Flow | -$25M | $5M | $39M | -557.8% | -164.4% |
| Item | Amount |
|---|---|
| REVENUE | $42M |
| Cost of Revenue | $37M |
| GROSS PROFIT | $5M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $5M |
| Other Expenses | $328.0K |
| Operating Expenses | $6M |
| Cost & Expenses | $43M |
| OPERATING INCOME | -$931.0K |
| Interest Income | $0 |
| Interest Expense | $954.0K |
| Other Income/Expenses | -$516.0K |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | $50.0K |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1M |
| D&A | $328.0K |
| EBIT | -$493.0K |
| EBITDA | -$165.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$1M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$23.0K |
| Change in Working Capital | -$19M |
| OPERATING CASH FLOW | -$18M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | $4M |
| Common Stock Repurchased | -$974.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $10.0K |
| NET CASH FROM FINANCING | $59M |
| FREE CASH FLOW | -$25M |
| Net Change in Cash | $34M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $71M |
| Short-Term Investments | $0 |
| Net Receivables | $17M |
| Inventory | $11M |
| Other Current Assets | $1M |
| TOTAL CURRENT ASSETS | $100M |
| PP&E (Net) | $55M |
| Goodwill | $780.0K |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $65M |
| TOTAL ASSETS | $165M |
| Account Payables | $42M |
| Short-Term Debt | $5M |
| Deferred Revenue | $12M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $66M |
| Long-Term Debt | $19M |
| Deferred Revenue NC | $363.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $36M |
| TOTAL LIABILITIES | $102M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $132M |
| Retained Earnings | -$57M |
| Treasury Stock | -$12M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $63M |
| Minority Interest | $0 |
| TOTAL EQUITY | $63M |
| TOTAL LIABILITIES & EQUITY | $165M |
| Total Debt | $41M |
| Net Debt | -$29M |
