| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $337M | $308M | $268M | 9.3% | 25.7% |
| Op. Income | $15M | -$5M | -$8M | 398.4% | 295.4% |
| Gross Margin | 55.4% | 56.4% | 55.9% | -1.0pp | -0.5pp |
| Net Margin | -1.1% | -4.2% | -6.5% | 3.1pp | 5.4pp |
| EPS (Diluted) | $-0.02 | $-0.06 | $-0.09 | 71.2% | 81.6% |
| Free Cash Flow | $52M | $40M | $38M | 32.1% | 39.0% |
| Item | Amount |
|---|---|
| REVENUE | $337M |
| Cost of Revenue | $150M |
| GROSS PROFIT | $187M |
| R&D Expenses | $30M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $142M |
| Other Expenses | $0 |
| Operating Expenses | $172M |
| Cost & Expenses | $322M |
| OPERATING INCOME | $15M |
| Interest Income | $0 |
| Interest Expense | $180.0K |
| Other Income/Expenses | -$18M |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | $840.0K |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $17M |
| EBIT | -$3M |
| EBITDA | $15M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $17M |
| Stock-Based Compensation | $46M |
| Deferred Income Tax | $173.0K |
| Other Non-Cash Items | $13M |
| Change in Working Capital | -$14M |
| OPERATING CASH FLOW | $58M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$5M |
| NET CASH FROM INVESTING | -$11M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$28M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$27M |
| FREE CASH FLOW | $52M |
| Net Change in Cash | $20M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $385M |
| Short-Term Investments | $0 |
| Net Receivables | $272M |
| Inventory | $0 |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $689M |
| PP&E (Net) | $22M |
| Goodwill | $317M |
| Intangible Assets | $117M |
| Long-Term Investments | $0 |
| Tax Assets | $1M |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $462M |
| TOTAL ASSETS | $1.2B |
| Account Payables | $29M |
| Short-Term Debt | $0 |
| Deferred Revenue | $4M |
| Other Current Liabilities | $196M |
| TOTAL CURRENT LIABILITIES | $229M |
| Long-Term Debt | $197M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $36M |
| TOTAL NON-CURRENT LIABILITIES | $233M |
| TOTAL LIABILITIES | $462M |
| Common Stock | $238.0K |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | -$1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $689M |
| Minority Interest | $0 |
| TOTAL EQUITY | $689M |
| TOTAL LIABILITIES & EQUITY | $1.2B |
| Total Debt | $197M |
| Net Debt | -$188M |
