| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $299M | $291M | $238M | 3.0% | 25.6% |
| Op. Income | $22M | $17M | $7M | 27.7% | 202.7% |
| Gross Margin | 56.0% | 55.8% | 56.7% | 0.2pp | -0.7pp |
| Net Margin | -7.2% | 2.8% | -0.8% | -9.9pp | -6.4pp |
| EPS (Diluted) | $-0.10 | $0.04 | $-0.01 | -372.7% | -1085.2% |
| Free Cash Flow | $23M | $18M | $6M | 23.0% | 262.9% |
| Item | Amount |
|---|---|
| REVENUE | $299M |
| Cost of Revenue | $132M |
| GROSS PROFIT | $168M |
| R&D Expenses | $56M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $89M |
| Other Expenses | $0 |
| Operating Expenses | $145M |
| Cost & Expenses | $277M |
| OPERATING INCOME | $22M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$25M |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $19M |
| Net Income from Continuing Ops | -$21M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$21M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$21M |
| D&A | $18M |
| EBIT | $5M |
| EBITDA | $23M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$21M |
| Depreciation & Amortization | $18M |
| Stock-Based Compensation | $13M |
| Deferred Income Tax | $11M |
| Other Non-Cash Items | $20M |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | $31M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | $200.0K |
| Purchases of Investments | -$900.0K |
| Sales/Maturities of Investments | $900.0K |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$8M |
| Net Debt Issuance | $141M |
| Common Stock Repurchased | -$30M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$16M |
| NET CASH FROM FINANCING | $98M |
| FREE CASH FLOW | $23M |
| Net Change in Cash | $120M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $544M |
| Short-Term Investments | $2M |
| Net Receivables | $274M |
| Inventory | $125M |
| Other Current Assets | $18M |
| TOTAL CURRENT ASSETS | $990M |
| PP&E (Net) | $270M |
| Goodwill | $592M |
| Intangible Assets | $123M |
| Long-Term Investments | $3M |
| Tax Assets | $77M |
| Other Non-Current Assets | $26M |
| TOTAL NON-CURRENT ASSETS | $1.1B |
| TOTAL ASSETS | $2.1B |
| Account Payables | $67M |
| Short-Term Debt | $151M |
| Deferred Revenue | $64M |
| Other Current Liabilities | $97M |
| TOTAL CURRENT LIABILITIES | $498M |
| Long-Term Debt | $641M |
| Deferred Revenue NC | $27M |
| Deferred Tax Liabilities | $7M |
| Other Non-Current Liabilities | $141M |
| TOTAL NON-CURRENT LIABILITIES | $861M |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $200.0K |
| Additional Paid-In Capital | $70.5B |
| Retained Earnings | -$69.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$114M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $724M |
| Minority Interest | $0 |
| TOTAL EQUITY | $724M |
| TOTAL LIABILITIES & EQUITY | $2.1B |
| Total Debt | $847M |
| Net Debt | $303M |
