| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $203M | $187M | $167M | 8.5% | 21.7% |
| Op. Income | -$687.0K | $13M | $5M | -105.2% | -113.6% |
| Gross Margin | 72.4% | 75.8% | 78.6% | -3.3pp | -6.1pp |
| Net Margin | -2.5% | 4.2% | -8.2% | -6.7pp | 5.7pp |
| EPS (Diluted) | $-0.07 | $0.10 | $-0.18 | -170.0% | 61.1% |
| Free Cash Flow | $4M | $18M | $13M | -78.8% | -71.4% |
| Item | Amount |
|---|---|
| REVENUE | $203M |
| Cost of Revenue | $56M |
| GROSS PROFIT | $147M |
| R&D Expenses | $45M |
| Selling & Marketing | $69M |
| General & Administrative | $33M |
| SG&A Expenses | $103M |
| Other Expenses | $0 |
| Operating Expenses | $148M |
| Cost & Expenses | $204M |
| OPERATING INCOME | -$687.0K |
| Interest Income | $0 |
| Interest Expense | $5M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$4M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$5M |
| D&A | $2M |
| EBIT | $1M |
| EBITDA | $4M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$5M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $299.0K |
| Other Non-Cash Items | $10M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $5M |
| Capital Expenditure | -$867.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$3M |
| Sales/Maturities of Investments | $18M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $15M |
| Net Debt Issuance | -$5M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$6M |
| FREE CASH FLOW | $4M |
| Net Change in Cash | $11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $136M |
| Short-Term Investments | $51M |
| Net Receivables | $278M |
| Inventory | $0 |
| Other Current Assets | $54M |
| TOTAL CURRENT ASSETS | $519M |
| PP&E (Net) | $60M |
| Goodwill | $29M |
| Intangible Assets | $1M |
| Long-Term Investments | $0 |
| Tax Assets | $5M |
| Other Non-Current Assets | $77M |
| TOTAL NON-CURRENT ASSETS | $172M |
| TOTAL ASSETS | $691M |
| Account Payables | $7M |
| Short-Term Debt | $23M |
| Deferred Revenue | $341M |
| Other Current Liabilities | $79M |
| TOTAL CURRENT LIABILITIES | $452M |
| Long-Term Debt | $277M |
| Deferred Revenue NC | $9M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$45M |
| TOTAL NON-CURRENT LIABILITIES | $286M |
| TOTAL LIABILITIES | $738M |
| Common Stock | $7.0K |
| Additional Paid-In Capital | $617M |
| Retained Earnings | -$611M |
| Treasury Stock | -$17M |
| Accum. Other Comp. Income | -$36M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$47M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$47M |
| TOTAL LIABILITIES & EQUITY | $691M |
| Total Debt | $345M |
| Net Debt | $210M |
