Overview
- Shares jumped more than 25% to about $12, according to Benzinga Pro data reported alongside the guidance.
- Management projected adjusted EBITDA of $80 million to $100 million in fiscal 2026 and at least $300 million in 2028, with positive free cash flow expected in 2027 and 2028 and at least $200 million in cash at the end of 2026.
- The company said it has sufficient liquidity to fund operations through 2028 and outlined a path to a net cash position by then.
- Debt stands at about $323 million with no maturities until 2029, which reduces near-term financing pressure.
- Analyst moves followed the update, with Wedbush raising its price target to $24 and Barrington Research upgrading the stock to Outperform with a $16 target.