Reported December 5, 2025
| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $32M | $33M | — | -1.9% | — |
| Op. Income | $245.6K | $2M | — | -89.2% | — |
| Gross Margin | 24.3% | 27.3% | — | -3.0pp | — |
| Net Margin | -0.1% | 5.8% | — | -5.9pp | — |
| EPS (Diluted) | $-0.00 | $0.04 | — | -102.4% | — |
| Free Cash Flow | -$876.1K | $10M | — | -108.7% | — |
| Item | Amount |
|---|---|
| REVENUE | $32M |
| Cost of Revenue | $24M |
| GROSS PROFIT | $8M |
| R&D Expenses | $1M |
| Selling & Marketing | $5M |
| General & Administrative | $1M |
| SG&A Expenses | $6M |
| Other Expenses | $0 |
| Operating Expenses | $8M |
| Cost & Expenses | $32M |
| OPERATING INCOME | $245.6K |
| Interest Income | $19.3K |
| Interest Expense | $273.6K |
| Other Income/Expenses | -$170.1K |
| INCOME BEFORE TAX | $75.5K |
| Income Tax Expense | $121.7K |
| Net Income from Continuing Ops | -$46.2K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$46.2K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$46.2K |
| D&A | $358.2K |
| EBIT | $349.1K |
| EBITDA | $707.2K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$46.2K |
| Depreciation & Amortization | $358.2K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $129.4K |
| Other Non-Cash Items | $243.9K |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$876.1K |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $4M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | -$876.1K |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $114M |
| Short-Term Investments | $0 |
| Net Receivables | $8M |
| Inventory | $5M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $132M |
| PP&E (Net) | $76M |
| Goodwill | $0 |
| Intangible Assets | $642.0K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $176.6K |
| TOTAL NON-CURRENT ASSETS | $77M |
| TOTAL ASSETS | $208M |
| Account Payables | $9M |
| Short-Term Debt | $23M |
| Deferred Revenue | $35.1K |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $35M |
| Long-Term Debt | $6M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $8M |
| TOTAL LIABILITIES | $43M |
| Common Stock | $0 |
| Additional Paid-In Capital | $44M |
| Retained Earnings | $115M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $166M |
| Minority Interest | $0 |
| TOTAL EQUITY | $166M |
| TOTAL LIABILITIES & EQUITY | $208M |
| Total Debt | $29M |
| Net Debt | -$85M |