| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $212M | $222M | $191M | -4.4% | 11.2% |
| Op. Income | -$7M | $4M | -$9M | -291.9% | 27.2% |
| Gross Margin | 52.4% | 54.1% | 54.1% | -1.7pp | -1.7pp |
| Net Margin | -2.8% | 2.6% | -3.6% | -5.5pp | 0.8pp |
| EPS (Diluted) | $-0.05 | $0.05 | $-0.06 | -207.8% | 11.7% |
| Free Cash Flow | $8M | -$2M | $2M | 636.5% | 271.2% |
| Item | Amount |
|---|---|
| REVENUE | $212M |
| Cost of Revenue | $101M |
| GROSS PROFIT | $111M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $118M |
| Other Expenses | $0 |
| Operating Expenses | $118M |
| Cost & Expenses | $219M |
| OPERATING INCOME | -$7M |
| Interest Income | $2M |
| Interest Expense | $0 |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$5M |
| Income Tax Expense | $862.0K |
| Net Income from Continuing Ops | -$6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$6M |
| D&A | $13M |
| EBIT | -$5M |
| EBITDA | $8M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$6M |
| Depreciation & Amortization | $13M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | $9M |
| OPERATING CASH FLOW | $23M |
| Capital Expenditure | -$15M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$15M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$2M |
| FREE CASH FLOW | $8M |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $286M |
| Short-Term Investments | $0 |
| Net Receivables | $3M |
| Inventory | $45M |
| Other Current Assets | $18M |
| TOTAL CURRENT ASSETS | $352M |
| PP&E (Net) | $358M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $10M |
| TOTAL NON-CURRENT ASSETS | $368M |
| TOTAL ASSETS | $721M |
| Account Payables | $32M |
| Short-Term Debt | $31M |
| Deferred Revenue | $34M |
| Other Current Liabilities | $53M |
| TOTAL CURRENT LIABILITIES | $150M |
| Long-Term Debt | $202M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $203M |
| TOTAL LIABILITIES | $353M |
| Common Stock | $12.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$686M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $1.1B |
| TOTAL STOCKHOLDERS' EQUITY | $368M |
| Minority Interest | $0 |
| TOTAL EQUITY | $368M |
| TOTAL LIABILITIES & EQUITY | $721M |
| Total Debt | $233M |
| Net Debt | -$53M |
