| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $175M | $236M | $236M | -25.8% | -25.8% |
| Op. Income | $79M | $80M | $74M | -0.9% | 6.9% |
| Gross Margin | 97.6% | 71.0% | 68.0% | 26.6pp | 29.6pp |
| Net Margin | 35.7% | 26.4% | 24.9% | 9.3pp | 10.8pp |
| EPS (Diluted) | $1.85 | $1.85 | $1.75 | 0.0% | 5.7% |
| Free Cash Flow | $64M | $64M | $72M | -1.0% | -11.9% |
| Item | Amount |
|---|---|
| REVENUE | $175M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $171M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $73M |
| SG&A Expenses | $75M |
| Other Expenses | $17M |
| Operating Expenses | $92M |
| Cost & Expenses | $96M |
| OPERATING INCOME | $79M |
| Interest Income | $194M |
| Interest Expense | $69M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $79M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $63M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $63M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $63M |
| D&A | $6M |
| EBIT | $79M |
| EBITDA | $85M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $175M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $171M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $73M |
| SG&A Expenses | $75M |
| Other Expenses | $17M |
| Operating Expenses | $92M |
| Cost & Expenses | $96M |
| OPERATING INCOME | $79M |
| Interest Income | $194M |
| Interest Expense | $69M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $79M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $63M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $63M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $63M |
| D&A | $6M |
| EBIT | $79M |
| EBITDA | $85M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $63M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $826.0K |
| Other Non-Cash Items | $8M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $75M |
| Capital Expenditure | -$12M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $3M |
| Sales/Maturities of Investments | $96M |
| Other Investing Activities | -$160M |
| NET CASH FROM INVESTING | -$73M |
| Net Debt Issuance | $6M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$15M |
| Other Financing Activities | $62M |
| NET CASH FROM FINANCING | $55M |
| FREE CASH FLOW | $64M |
| Net Change in Cash | $57M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4.1B |
| Short-Term Investments | $356M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $4.4B |
| PP&E (Net) | $314M |
| Goodwill | $182M |
| Intangible Assets | $11M |
| Long-Term Investments | $8.8B |
| Tax Assets | $0 |
| Other Non-Current Assets | $433M |
| TOTAL NON-CURRENT ASSETS | $9.8B |
| TOTAL ASSETS | $14.2B |
| Account Payables | $0 |
| Short-Term Debt | $12M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $12.1B |
| TOTAL CURRENT LIABILITIES | $12.1B |
| Long-Term Debt | $86M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $199M |
| TOTAL NON-CURRENT LIABILITIES | $285M |
| TOTAL LIABILITIES | $12.4B |
| Common Stock | $33M |
| Additional Paid-In Capital | $194M |
| Retained Earnings | $1.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$13M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.8B |
| TOTAL LIABILITIES & EQUITY | $14.2B |
| Total Debt | $98M |
| Net Debt | -$4.0B |
