| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $24M | — | $15M | — | 57.9% |
| Op. Income | -$41.5K | — | $434.7K | — | -109.6% |
| Gross Margin | -52.9% | — | 19.7% | — | -72.6pp |
| Net Margin | -0.1% | — | -7.0% | — | 6.9pp |
| EPS (Diluted) | $0.00 | — | $-0.03 | — | 101.1% |
| Free Cash Flow | $178M | — | -$74M | — | 339.8% |
| Item | Amount |
|---|---|
| REVENUE | $24M |
| Cost of Revenue | -$23M |
| GROSS PROFIT | -$12M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $11M |
| SG&A Expenses | $11M |
| Other Expenses | -$29M |
| Operating Expenses | -$17M |
| Cost & Expenses | $29M |
| OPERATING INCOME | -$41.5K |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $11.8K |
| INCOME BEFORE TAX | -$29.7K |
| Income Tax Expense | -$17.5K |
| Net Income from Continuing Ops | -$12.2K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$12.2K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$17M |
| D&A | -$10M |
| EBIT | -$41.5K |
| EBITDA | -$4M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | -$12.2K |
| Depreciation & Amortization | $72.3K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$5.8K |
| Other Non-Cash Items | -$5M |
| Change in Working Capital | $31M |
| OPERATING CASH FLOW | $25M |
| Capital Expenditure | $153M |
| Acquisitions (Net) | -$1M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $152M |
| Net Debt Issuance | -$736 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$165M |
| NET CASH FROM FINANCING | -$340M |
| FREE CASH FLOW | $178M |
| Net Change in Cash | -$169M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $114M |
| Short-Term Investments | $0 |
| Net Receivables | $263.1K |
| Inventory | $0 |
| Other Current Assets | $53M |
| TOTAL CURRENT ASSETS | $168M |
| PP&E (Net) | $77M |
| Goodwill | $20M |
| Intangible Assets | $13M |
| Long-Term Investments | $85.3K |
| Tax Assets | $3M |
| Other Non-Current Assets | $371M |
| TOTAL NON-CURRENT ASSETS | $484M |
| TOTAL ASSETS | $651M |
| Account Payables | $64.6K |
| Short-Term Debt | $18M |
| Deferred Revenue | $8M |
| Other Current Liabilities | $56M |
| TOTAL CURRENT LIABILITIES | $83M |
| Long-Term Debt | $5M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $6M |
| Other Non-Current Liabilities | $75M |
| TOTAL NON-CURRENT LIABILITIES | $86M |
| TOTAL LIABILITIES | $169M |
| Common Stock | $383.4K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$25M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $505M |
| TOTAL STOCKHOLDERS' EQUITY | $482M |
| Minority Interest | $0 |
| TOTAL EQUITY | $482M |
| TOTAL LIABILITIES & EQUITY | $651M |
| Total Debt | $23M |
| Net Debt | -$91M |
