| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $139M | $134M | $118M | 3.7% | 18.4% |
| Op. Income | $63M | $51M | $38M | 23.0% | 63.7% |
| Gross Margin | 63.8% | 56.3% | 53.9% | 7.5pp | 9.9pp |
| Net Margin | 35.5% | 27.1% | 95.2% | 8.3pp | -59.7pp |
| EPS (Diluted) | $0.20 | $0.15 | $0.46 | 33.3% | -56.5% |
| Free Cash Flow | $35M | -$1M | $47M | 3314.4% | -27.2% |
| Item | Amount |
|---|---|
| REVENUE | $139M |
| Cost of Revenue | $50M |
| GROSS PROFIT | $89M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $24M |
| Other Expenses | $1M |
| Operating Expenses | $26M |
| Cost & Expenses | $76M |
| OPERATING INCOME | $63M |
| Interest Income | $487.0K |
| Interest Expense | $2M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | $62M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $49M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $49M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $49M |
| D&A | $2M |
| EBIT | $63M |
| EBITDA | $65M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $139M |
| Cost of Revenue | $50M |
| GROSS PROFIT | $89M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $24M |
| Other Expenses | $1M |
| Operating Expenses | $26M |
| Cost & Expenses | $76M |
| OPERATING INCOME | $63M |
| Interest Income | $487.0K |
| Interest Expense | $2M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | $62M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $49M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $49M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $49M |
| D&A | $2M |
| EBIT | $63M |
| EBITDA | $65M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $49M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | $170.0K |
| Change in Working Capital | -$23M |
| OPERATING CASH FLOW | $36M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $1M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$192.0K |
| NET CASH FROM INVESTING | -$276.0K |
| Net Debt Issuance | $549.0K |
| Common Stock Repurchased | -$9M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$9M |
| FREE CASH FLOW | $35M |
| Net Change in Cash | $26M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $88M |
| Short-Term Investments | $0 |
| Net Receivables | $158M |
| Inventory | $206M |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $467M |
| PP&E (Net) | $72M |
| Goodwill | $4M |
| Intangible Assets | $632.0K |
| Long-Term Investments | $0 |
| Tax Assets | $73M |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $158M |
| TOTAL ASSETS | $624M |
| Account Payables | $23M |
| Short-Term Debt | $4M |
| Deferred Revenue | $1M |
| Other Current Liabilities | $42M |
| TOTAL CURRENT LIABILITIES | $70M |
| Long-Term Debt | $76M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $77M |
| TOTAL LIABILITIES | $147M |
| Common Stock | $24.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$162M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $639M |
| TOTAL STOCKHOLDERS' EQUITY | $477M |
| Minority Interest | $0 |
| TOTAL EQUITY | $477M |
| TOTAL LIABILITIES & EQUITY | $624M |
| Total Debt | $80M |
| Net Debt | -$8M |
