$241.19M
Revenue
$41.35M
Net Income
21.97%
Gross Margin
-10.18%
Op. Margin
$-69.60M
Free Cash Flow
| Breakdown | TTM (Dec 31, 2025) |
FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
FY 2022 (Dec 31, 2022) |
FY 2021 (Sep 30, 2021) |
|---|---|---|---|---|---|---|
| Total Revenue | $241.19M | $197.14M | $146.82M | $225.18M | $146.12M | $50.53M |
| Revenue Growth % | 22.3% | 34.3% | -34.8% | 54.1% | 189.2% | nan% |
| Cost of Revenue | $188.19M | $156.01M | $117.23M | $183.06M | $123.84M | $39.72M |
| Gross Profit | $53.00M | $41.13M | $29.59M | - | - | - |
| Gross Margin % | 22.0% | 20.9% | 20.2% | nan% | nan% | nan% |
| Operating Expenses | $109.74M | $63.48M | $52.11M | $293.30M | $199.65M | $74.62M |
| Selling General & Admin | - | $60.88M | $50.86M | - | - | - |
| Operating Income | $-24.56M | $-22.35M | $-22.52M | $-68.12M | $-53.53M | $-24.09M |
| Operating Margin % | -10.2% | -11.3% | -15.3% | -30.3% | -36.6% | -47.7% |
| Interest Expense | - | - | - | - | - | $12.00K |
| Other Income/Expense | $2.29M | $2.29M | $6.36M | $10.57M | $25.50M | $-19.60M |
| Income Before Tax | $-22.28M | $-20.07M | $-16.16M | $-57.54M | $-28.03M | $-43.70M |
| Income Tax Expense | - | - | $-255.00K | $-1.47M | $-772.00K | $-3.64M |
| Net Income | $41.35M | $41.35M | $-27.31M | $-56.08M | $-27.26M | $-40.05M |
| Net Margin % | 17.1% | 21.0% | -18.6% | -24.9% | -18.7% | -79.3% |
| Basic EPS | 0.49 | 0.50 | -0.35 | -0.76 | -0.38 | -0.93 |
| Diluted EPS | 0.49 | 0.50 | -0.35 | -0.76 | -0.38 | -0.93 |
| Basic Shares Outstanding | - | 82.1M | 77.5M | 73.5M | 71.2M | 42.9M |
| Diluted Shares Outstanding | - | 82.1M | 77.5M | 73.5M | 71.2M | 42.9M |
| Breakdown | FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
FY 2022 (Dec 31, 2022) |
FY 2021 (Sep 30, 2021) |
|---|---|---|---|---|---|
| Cash & Cash Equivalents | $30.97M | $18.38M | $27.87M | $43.30M | $6.95M |
| Accounts Receivable | $39.96M | $19.82M | $21.00M | $10.88M | $3.77M |
| Other Current Assets | $5.01M | $509.00K | $17.97M | $12.09M | $5.92M |
| Total Current Assets | $126.19M | $160.74M | $206.26M | $218.13M | $314.45M |
| Property Plant & Equipment | $36.44M | $28.46M | $2.90M | $2.04M | $1.96M |
| Goodwill | $88.21M | $15.54M | $13.33M | $39.45M | $13.27M |
| Intangible Assets | $47.50M | $7.96M | $20.52M | $46.37M | $12.64M |
| Other Non-current Assets | $24.02M | $118.00K | $1.40M | $970.00K | $220.00K |
| Total Assets | $325.47M | $256.68M | $294.94M | $325.02M | $343.39M |
| Deferred Revenue | - | $6.66M | $6.84M | $6.71M | $4.65M |
| Total Current Liabilities | $19.79M | $22.73M | $35.49M | $26.61M | $9.53M |
| Deferred Tax Liabilities | $348.00K | $185.00K | $451.00K | $1.88M | $195.00K |
| Other Non-current Liabilities | $22.07M | - | - | - | - |
| Total Liabilities | $46.40M | $34.74M | $60.64M | $50.54M | $52.16M |
| Common Stock | $7.00K | $7.00K | $7.00K | $7.00K | $7.00K |
| Retained Earnings | $-145.55M | $-186.90M | $-159.75M | $-103.68M | $-77.19M |
| Total Stockholders Equity | $279.07M | $221.94M | $234.30M | $274.49M | $291.23M |
| Total Liabilities & Equity | $325.47M | $256.68M | $294.94M | $325.02M | $343.39M |
| Breakdown | TTM (Dec 31, 2025) |
FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
FY 2022 (Dec 31, 2022) |
FY 2021 (Sep 30, 2021) |
|---|---|---|---|---|---|---|
| Net Income | $41.35M | $41.35M | $-27.31M | $-56.08M | $-27.26M | $-40.05M |
| Depreciation & Amortization | $13.36M | $8.19M | $5.96M | $7.11M | $5.72M | $596.00K |
| Stock-based Compensation | $31.61M | $17.83M | $19.89M | $12.50M | $8.28M | $9.62M |
| Deferred Income Tax | $419.00K | $432.00K | $-255.00K | $-1.47M | $-772.00K | $-3.64M |
| Change in Receivables | $19.33M | $12.03M | $998.00K | $10.25M | $5.35M | $414.00K |
| Operating Cash Flow | $-52.47M | $-48.91M | $-2.52M | $-32.35M | $-37.13M | $-15.62M |
| Capital Expenditure | $17.13M | $9.60M | $30.86M | $2.11M | $730.00K | $297.00K |
| Acquisitions | - | $66.53M | $2.23M | - | $48.10M | $23.07M |
| Investing Cash Flow | $139.24M | $69.75M | $-1.02M | $17.09M | $79.34M | $-321.34M |
| Stock Repurchased | - | - | $244.00K | - | - | - |
| Financing Cash Flow | $-18.54M | $-8.91M | $-5.76M | $-76.00K | $-1.08M | $332.26M |
| Net Change in Cash | $68.30M | $11.59M | $-9.37M | $-15.40M | $41.20M | $-4.69M |
SEC Filing Format - Data shown as it appears in the Q3 2025 (10-Q) filing
Period ended: Sep 30, 2025
Condensed Consolidated Statements of Operations
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Total Revenue | $49.30M | $36.06M | $130.35M | $110.43M |
| Cost of Revenue | $37.68M | $28.55M | $100.90M | $85.85M |
| Operating Expenses | $54.92M | $43.15M | $146.30M | $127.05M |
| Operating Income | $-5.62M | $-7.09M | $-15.95M | $-16.62M |
| Other Income/Expense | $-4.04M | $1.47M | $1.27M | $7.89M |
| Income Before Tax | $-9.66M | $-5.63M | $-14.68M | $-8.73M |
| Income Tax Expense | - | - | - | - |
| Net Income | $57.42M | $-1.95M | $50.18M | $-17.51M |
| Basic EPS | 0.70 | -0.03 | 0.62 | -0.23 |
| Diluted EPS | 0.70 | -0.03 | 0.62 | -0.23 |
| Basic Shares Outstanding | $82.45M | $78.04M | $81.22M | $77.15M |
| Diluted Shares Outstanding | $82.45M | $78.04M | $81.22M | $77.15M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $22.75M | $16.07M |
| Accounts Receivable | $37.54M | $19.82M |
| Other Current Assets | $8.76M | $4.68M |
| Total Current Assets | $122.48M | $160.74M |
| Property Plant & Equipment | $38.56M | $28.46M |
| Goodwill | $84.61M | $15.54M |
| Intangible Assets | $49.75M | $7.96M |
| Other Non-current Assets | $8.57M | $118.00K |
| Total Assets | $335.08M | $256.68M |
| Total Current Liabilities | $27.87M | $22.73M |
| Deferred Tax Liabilities | $181.00K | - |
| Other Non-current Liabilities | $18.26M | - |
| Total Liabilities | $52.08M | $34.74M |
| Common Stock | $7.00K | $7.00K |
| Retained Earnings | $-136.72M | $-186.90M |
| Total Stockholders Equity | $283.00M | $221.94M |
| Total Liabilities & Equity | $335.08M | $256.68M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $57.42M | $-1.95M | $50.18M | $-17.51M |
| Depreciation & Amortization | - | - | $5.18M | $4.43M |
| Stock-based Compensation | - | - | $11.25M | $15.37M |
| Deferred Income Tax | - | - | $558.00K | $-150.00K |
| Change in Receivables | - | - | $8.55M | $3.61M |
| Operating Cash Flow | - | - | $-40.61M | $-767.00K |
| Capital Expenditure | - | - | $7.75M | $26.29M |
| Acquisitions | - | - | $65.17M | $2.23M |
| Investing Cash Flow | - | - | $51.48M | $-4.99M |
| Stock Repurchased | - | - | - | $244.00K |
| Financing Cash Flow | - | - | $-7.17M | $-1.89M |
| Net Change in Cash | - | - | $3.37M | $-7.62M |
All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.
Annual data represents full fiscal year results. FY = Fiscal Year ending.