| Metric | Q3 2026 | Q2 2026 | Q3 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $141M | $134M | $139M | 5.0% | 1.9% |
| Op. Income | -$1M | -$2M | $16M | 39.9% | -106.3% |
| Gross Margin | 63.6% | 52.3% | 60.0% | 11.3pp | 3.6pp |
| Net Margin | -0.6% | -1.4% | 9.7% | 0.8pp | -10.3pp |
| EPS (Diluted) | $-0.19 | $-0.38 | $2.45 | 50.0% | -107.8% |
| Free Cash Flow | $57M | $48M | $60M | 19.8% | -5.4% |
| Item | Amount |
|---|---|
| REVENUE | $141M |
| Cost of Revenue | $51M |
| GROSS PROFIT | $90M |
| R&D Expenses | $0 |
| Selling & Marketing | $4M |
| General & Administrative | $108M |
| SG&A Expenses | $112M |
| Other Expenses | -$21M |
| Operating Expenses | $91M |
| Cost & Expenses | $142M |
| OPERATING INCOME | -$1M |
| Interest Income | $126M |
| Interest Expense | $13M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | -$102.0K |
| Net Income from Continuing Ops | -$912.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$912.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$912.0K |
| D&A | $0 |
| EBIT | -$1M |
| EBITDA | -$1M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$911.3K |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $389.3K |
| Other Non-Cash Items | $50M |
| Change in Working Capital | $869.0K |
| OPERATING CASH FLOW | $58M |
| Capital Expenditure | -$807.9K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$104M |
| NET CASH FROM INVESTING | -$105M |
| Net Debt Issuance | $93M |
| Common Stock Repurchased | -$15M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$4M |
| NET CASH FROM FINANCING | $74M |
| FREE CASH FLOW | $57M |
| Net Change in Cash | $27M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $9M |
| Short-Term Investments | $0 |
| Net Receivables | $913M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $923M |
| PP&E (Net) | $165M |
| Goodwill | $7M |
| Intangible Assets | $5M |
| Long-Term Investments | $913M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$913M |
| TOTAL NON-CURRENT ASSETS | $177M |
| TOTAL ASSETS | $1.1B |
| Account Payables | $39M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $276 |
| TOTAL CURRENT LIABILITIES | $39M |
| Long-Term Debt | $677M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $752M |
| TOTAL LIABILITIES | $791M |
| Common Stock | $0 |
| Additional Paid-In Capital | $275M |
| Retained Earnings | $76M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $352M |
| Minority Interest | $0 |
| TOTAL EQUITY | $352M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $752M |
| Net Debt | $742M |
