| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $184M | $185M | $205M | -0.9% | -10.2% |
| Op. Income | -$51M | -$61M | -$55M | 17.5% | 8.2% |
| Gross Margin | -5.8% | 6.8% | 7.6% | -12.6pp | -13.3pp |
| Net Margin | -15.7% | -45.1% | -42.7% | 29.4pp | 27.0pp |
| EPS (Diluted) | $-0.04 | $-0.12 | $-0.13 | 66.7% | 69.2% |
| Free Cash Flow | -$58M | -$64M | -$74M | 8.2% | 20.9% |
| Item | Amount |
|---|---|
| REVENUE | $184M |
| Cost of Revenue | $194M |
| GROSS PROFIT | -$11M |
| R&D Expenses | $9M |
| Selling & Marketing | $20M |
| General & Administrative | $26M |
| SG&A Expenses | $46M |
| Other Expenses | -$15M |
| Operating Expenses | $40M |
| Cost & Expenses | $234M |
| OPERATING INCOME | -$51M |
| Interest Income | $405.0K |
| Interest Expense | $25M |
| Other Income/Expenses | $23M |
| INCOME BEFORE TAX | -$28M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$29M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$29M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$29M |
| D&A | $3M |
| EBIT | -$3M |
| EBITDA | -$200.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$29M |
| Depreciation & Amortization | $14M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$15M |
| Change in Working Capital | $13M |
| OPERATING CASH FLOW | -$17M |
| Capital Expenditure | -$42M |
| Acquisitions (Net) | $187M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$8M |
| NET CASH FROM INVESTING | $138M |
| Net Debt Issuance | -$110M |
| Common Stock Repurchased | -$533.7K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$111M |
| FREE CASH FLOW | -$58M |
| Net Change in Cash | $9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $134M |
| Short-Term Investments | $0 |
| Net Receivables | $26M |
| Inventory | $12M |
| Other Current Assets | $78M |
| TOTAL CURRENT ASSETS | $249M |
| PP&E (Net) | $332M |
| Goodwill | $210M |
| Intangible Assets | $75M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $103M |
| TOTAL NON-CURRENT ASSETS | $719M |
| TOTAL ASSETS | $969M |
| Account Payables | $20M |
| Short-Term Debt | $36M |
| Deferred Revenue | $739M |
| Other Current Liabilities | $112M |
| TOTAL CURRENT LIABILITIES | $908M |
| Long-Term Debt | $121M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $332M |
| TOTAL NON-CURRENT LIABILITIES | $453M |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $72.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$2.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6M |
| Other Equity | $2.0B |
| TOTAL STOCKHOLDERS' EQUITY | -$392M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$392M |
| TOTAL LIABILITIES & EQUITY | $969M |
| Total Debt | $157M |
| Net Debt | $23M |
