| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $140M | — | $142M | — | -1.7% |
| Op. Income | -$30M | — | -$31M | — | 2.5% |
| Gross Margin | 43.9% | — | 68.6% | — | -24.7pp |
| Net Margin | -43.1% | — | -22.7% | — | -20.4pp |
| EPS (Diluted) | $-0.51 | — | $-0.29 | — | -75.9% |
| Free Cash Flow | -$2M | — | $1M | — | -288.7% |
| Item | Amount |
|---|---|
| REVENUE | $140M |
| Cost of Revenue | $78M |
| GROSS PROFIT | $61M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $92M |
| Other Expenses | $0 |
| Operating Expenses | $92M |
| Cost & Expenses | $170M |
| OPERATING INCOME | -$30M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | -$38M |
| INCOME BEFORE TAX | -$68M |
| Income Tax Expense | -$5M |
| Net Income from Continuing Ops | -$63M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$60M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$60M |
| D&A | $29M |
| EBIT | -$30M |
| EBITDA | -$1M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$60M |
| Depreciation & Amortization | $29M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$6M |
| Other Non-Cash Items | $30M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | -$1M |
| Capital Expenditure | -$861.0K |
| Acquisitions (Net) | -$3M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $83M |
| NET CASH FROM INVESTING | $80M |
| Net Debt Issuance | -$57M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$213.0K |
| NET CASH FROM FINANCING | -$57M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | $21M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $32M |
| Short-Term Investments | $0 |
| Net Receivables | $29M |
| Inventory | $55M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $127M |
| PP&E (Net) | $14M |
| Goodwill | $178M |
| Intangible Assets | $427M |
| Long-Term Investments | $0 |
| Tax Assets | $70M |
| Other Non-Current Assets | $574.0K |
| TOTAL NON-CURRENT ASSETS | $689M |
| TOTAL ASSETS | $816M |
| Account Payables | $19M |
| Short-Term Debt | $3M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $44M |
| TOTAL CURRENT LIABILITIES | $75M |
| Long-Term Debt | $136M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $73M |
| Other Non-Current Liabilities | $22M |
| TOTAL NON-CURRENT LIABILITIES | $242M |
| TOTAL LIABILITIES | $316M |
| Common Stock | $13.0K |
| Additional Paid-In Capital | $981M |
| Retained Earnings | -$519M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$378.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $462M |
| Minority Interest | $38M |
| TOTAL EQUITY | $500M |
| TOTAL LIABILITIES & EQUITY | $816M |
| Total Debt | $149M |
| Net Debt | $117M |
