| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $284M | $279M | $260M | 1.9% | 9.4% |
| Op. Income | $17M | $36M | $154M | -51.4% | -88.7% |
| Gross Margin | 90.8% | 92.2% | 91.6% | -1.5pp | -0.8pp |
| Net Margin | 96.3% | 25.8% | 55.4% | 70.6pp | 41.0pp |
| EPS (Diluted) | $1.60 | $0.42 | $0.86 | 281.0% | 86.0% |
| Free Cash Flow | -$53M | $74M | $40M | -171.4% | -232.1% |
| Item | Amount |
|---|---|
| REVENUE | $284M |
| Cost of Revenue | $26M |
| GROSS PROFIT | $258M |
| R&D Expenses | $85M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $156M |
| Other Expenses | $0 |
| Operating Expenses | $240M |
| Cost & Expenses | $267M |
| OPERATING INCOME | $17M |
| Interest Income | $8M |
| Interest Expense | $0 |
| Other Income/Expenses | $9M |
| INCOME BEFORE TAX | $26M |
| Income Tax Expense | -$247M |
| Net Income from Continuing Ops | $274M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $274M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $274M |
| D&A | $0 |
| EBIT | $26M |
| EBITDA | $26M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $284M |
| Cost of Revenue | $26M |
| GROSS PROFIT | $258M |
| R&D Expenses | $85M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $156M |
| Other Expenses | $0 |
| Operating Expenses | $240M |
| Cost & Expenses | $267M |
| OPERATING INCOME | $17M |
| Interest Income | $8M |
| Interest Expense | $0 |
| Other Income/Expenses | $9M |
| INCOME BEFORE TAX | $26M |
| Income Tax Expense | -$247M |
| Net Income from Continuing Ops | $274M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $274M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $274M |
| D&A | $0 |
| EBIT | $26M |
| EBITDA | $26M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $274M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$250M |
| Other Non-Cash Items | $13M |
| Change in Working Capital | -$88M |
| OPERATING CASH FLOW | -$49M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$158M |
| Sales/Maturities of Investments | $106M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$56M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $23M |
| FREE CASH FLOW | -$53M |
| Net Change in Cash | -$80M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $178M |
| Short-Term Investments | $642M |
| Net Receivables | $148M |
| Inventory | $35M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $55M |
| Goodwill | $0 |
| Intangible Assets | $109M |
| Long-Term Investments | $8M |
| Tax Assets | $250M |
| Other Non-Current Assets | $81M |
| TOTAL NON-CURRENT ASSETS | $502M |
| TOTAL ASSETS | $1.6B |
| Account Payables | $11M |
| Short-Term Debt | $12M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $255M |
| TOTAL CURRENT LIABILITIES | $277M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $19M |
| TOTAL NON-CURRENT LIABILITIES | $60M |
| TOTAL LIABILITIES | $337M |
| Common Stock | $16.0K |
| Additional Paid-In Capital | $3.0B |
| Retained Earnings | -$1.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $1.6B |
| Total Debt | $52M |
| Net Debt | -$126M |
