| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $123M | $116M | — | 6.2% | — |
| Op. Income | $33M | $30M | — | 11.5% | — |
| Gross Margin | 77.3% | 51.6% | — | 25.7pp | — |
| Net Margin | 20.5% | 19.5% | — | 1.0pp | — |
| EPS (Diluted) | $0.51 | $0.45 | — | 13.3% | — |
| Free Cash Flow | $49M | $0 | — | — | — |
| Item | Amount |
|---|---|
| REVENUE | $123M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $95M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $62M |
| Operating Expenses | $62M |
| Cost & Expenses | $90M |
| OPERATING INCOME | $33M |
| Interest Income | $0 |
| Interest Expense | $72.0K |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $33M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $26M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $25M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $25M |
| D&A | $0 |
| EBIT | $33M |
| EBITDA | $33M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $123M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $95M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $62M |
| Operating Expenses | $62M |
| Cost & Expenses | $90M |
| OPERATING INCOME | $33M |
| Interest Income | $0 |
| Interest Expense | $72.0K |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $33M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $26M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $25M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $25M |
| D&A | $0 |
| EBIT | $33M |
| EBITDA | $33M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $25M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $30M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $55M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$57M |
| NET CASH FROM INVESTING | -$59M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $7M |
| Common Dividends Paid | -$1.0K |
| Other Financing Activities | -$12M |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | $49M |
| Net Change in Cash | -$5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $30M |
| Short-Term Investments | $558M |
| Net Receivables | $75M |
| Inventory | $0 |
| Other Current Assets | -$558M |
| TOTAL CURRENT ASSETS | $105M |
| PP&E (Net) | $2M |
| Goodwill | $0 |
| Intangible Assets | $30M |
| Long-Term Investments | $0 |
| Tax Assets | $13M |
| Other Non-Current Assets | $1.1B |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $1.3B |
| Account Payables | $63M |
| Short-Term Debt | $0 |
| Deferred Revenue | $208M |
| Other Current Liabilities | -$278M |
| TOTAL CURRENT LIABILITIES | $438.0K |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $539.0K |
| Other Non-Current Liabilities | $628.0K |
| TOTAL NON-CURRENT LIABILITIES | $1M |
| TOTAL LIABILITIES | $644M |
| Common Stock | $48.0K |
| Additional Paid-In Capital | $496M |
| Retained Earnings | $109M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $9M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $614M |
| Minority Interest | $550.0K |
| TOTAL EQUITY | $615M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $1M |
| Net Debt | -$28M |
