| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $46M | $51M | $33M | -9.6% | 38.7% |
| Op. Income | $13M | $19M | $8M | -30.3% | 60.0% |
| Gross Margin | 77.1% | 81.1% | 80.2% | -4.0pp | -3.2pp |
| Net Margin | 23.5% | 29.2% | 19.9% | -5.7pp | 3.6pp |
| EPS (Diluted) | $1.04 | $1.42 | $0.77 | -26.8% | 35.1% |
| Free Cash Flow | $11M | $23M | $5M | -50.8% | 110.1% |
| Item | Amount |
|---|---|
| REVENUE | $46M |
| Cost of Revenue | $11M |
| GROSS PROFIT | $35M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $17M |
| SG&A Expenses | $17M |
| Other Expenses | $6M |
| Operating Expenses | $22M |
| Cost & Expenses | $33M |
| OPERATING INCOME | $13M |
| Interest Income | $43M |
| Interest Expense | $10M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $13M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $11M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $11M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $11M |
| D&A | $2M |
| EBIT | $13M |
| EBITDA | $15M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $46M |
| Cost of Revenue | $11M |
| GROSS PROFIT | $35M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $17M |
| SG&A Expenses | $17M |
| Other Expenses | $6M |
| Operating Expenses | $22M |
| Cost & Expenses | $33M |
| OPERATING INCOME | $13M |
| Interest Income | $43M |
| Interest Expense | $10M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $13M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $11M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $11M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $11M |
| D&A | $2M |
| EBIT | $13M |
| EBITDA | $15M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $11M |
| Depreciation & Amortization | $899.0K |
| Stock-Based Compensation | $222.0K |
| Deferred Income Tax | -$10M |
| Other Non-Cash Items | $7M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | $13M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $72M |
| Purchases of Investments | -$90M |
| Sales/Maturities of Investments | $92M |
| Other Investing Activities | -$84M |
| NET CASH FROM INVESTING | -$12M |
| Net Debt Issuance | -$16M |
| Common Stock Repurchased | -$3M |
| Common Dividends Paid | -$4M |
| Other Financing Activities | -$16M |
| NET CASH FROM FINANCING | -$37M |
| FREE CASH FLOW | $11M |
| Net Change in Cash | -$36M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $21M |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $21M |
| PP&E (Net) | $35M |
| Goodwill | $64M |
| Intangible Assets | $22M |
| Long-Term Investments | $2.9B |
| Tax Assets | $0 |
| Other Non-Current Assets | $160M |
| TOTAL NON-CURRENT ASSETS | $3.2B |
| TOTAL ASSETS | $3.2B |
| Account Payables | $0 |
| Short-Term Debt | $65M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $65M |
| Long-Term Debt | $260M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2.5B |
| TOTAL NON-CURRENT LIABILITIES | $2.7B |
| TOTAL LIABILITIES | $2.8B |
| Common Stock | $28M |
| Additional Paid-In Capital | $180M |
| Retained Earnings | $257M |
| Treasury Stock | -$22M |
| Accum. Other Comp. Income | -$22M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $420M |
| Minority Interest | $0 |
| TOTAL EQUITY | $420M |
| TOTAL LIABILITIES & EQUITY | $3.2B |
| Total Debt | $329M |
| Net Debt | $308M |
