| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $373M | $362M | $297M | 3.0% | 25.6% |
| Op. Income | $42M | $33M | $27M | 28.4% | 57.1% |
| Gross Margin | 33.1% | 32.2% | 34.2% | 0.9pp | -1.0pp |
| Net Margin | 8.0% | 6.3% | 6.6% | 1.7pp | 1.4pp |
| EPS (Diluted) | $1.61 | $1.24 | $1.07 | 29.8% | 50.5% |
| Free Cash Flow | $0 | $49M | $9M | -100.0% | -100.0% |
| Item | Amount |
|---|---|
| REVENUE | $373M |
| Cost of Revenue | $249M |
| GROSS PROFIT | $124M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $77M |
| SG&A Expenses | $77M |
| Other Expenses | $4M |
| Operating Expenses | $81M |
| Cost & Expenses | $331M |
| OPERATING INCOME | $42M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $40M |
| Income Tax Expense | $10M |
| Net Income from Continuing Ops | $30M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $30M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $30M |
| D&A | $4M |
| EBIT | $42M |
| EBITDA | $46M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $373M |
| Cost of Revenue | $249M |
| GROSS PROFIT | $124M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $77M |
| SG&A Expenses | $77M |
| Other Expenses | $4M |
| Operating Expenses | $81M |
| Cost & Expenses | $331M |
| OPERATING INCOME | $42M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $40M |
| Income Tax Expense | $10M |
| Net Income from Continuing Ops | $30M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $30M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $30M |
| D&A | $4M |
| EBIT | $42M |
| EBITDA | $46M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $30M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$15M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $19M |
| Capital Expenditure | -$19M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$10M |
| NET CASH FROM INVESTING | -$10M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$29M |
| NET CASH FROM FINANCING | -$29M |
| FREE CASH FLOW | $0 |
| Net Change in Cash | -$20M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $82M |
| Short-Term Investments | $0 |
| Net Receivables | $152M |
| Inventory | $0 |
| Other Current Assets | $36M |
| TOTAL CURRENT ASSETS | $269M |
| PP&E (Net) | $69M |
| Goodwill | $997M |
| Intangible Assets | $102M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $1.4B |
| Account Payables | $17M |
| Short-Term Debt | $13M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $40M |
| TOTAL CURRENT LIABILITIES | $149M |
| Long-Term Debt | $158M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $44M |
| Other Non-Current Liabilities | -$37M |
| TOTAL NON-CURRENT LIABILITIES | $203M |
| TOTAL LIABILITIES | $352M |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1.1B |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $209M |
| Net Debt | $127M |
