| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $383M | $358M | $344M | 7.0% | 11.5% |
| Op. Income | -$22M | -$29M | -$22M | 23.1% | -0.1% |
| Gross Margin | 80.8% | 81.2% | 81.0% | -0.4pp | -0.2pp |
| Net Margin | -1.8% | -3.2% | 2.2% | 1.4pp | -4.1pp |
| EPS (Diluted) | $-0.07 | $-0.11 | $0.07 | 37.7% | -196.8% |
| Free Cash Flow | $68M | $93M | $73M | -26.7% | -6.3% |
| Item | Amount |
|---|---|
| REVENUE | $383M |
| Cost of Revenue | $74M |
| GROSS PROFIT | $310M |
| R&D Expenses | $90M |
| Selling & Marketing | $148M |
| General & Administrative | $70M |
| SG&A Expenses | $218M |
| Other Expenses | $24M |
| Operating Expenses | $332M |
| Cost & Expenses | $406M |
| OPERATING INCOME | -$22M |
| Interest Income | $25M |
| Interest Expense | $4M |
| Other Income/Expenses | $19M |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | -$7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$7M |
| Net Income Deductions | -$40M |
| BOTTOM LINE NET INCOME | $33M |
| D&A | $22M |
| EBIT | $1M |
| EBITDA | $23M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$7M |
| Depreciation & Amortization | $22M |
| Stock-Based Compensation | $60M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $5M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $84M |
| Capital Expenditure | -$15M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$755M |
| Sales/Maturities of Investments | $710M |
| Other Investing Activities | $4M |
| NET CASH FROM INVESTING | -$44M |
| Net Debt Issuance | -$744M |
| Common Stock Repurchased | -$30M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $1.1B |
| NET CASH FROM FINANCING | $340M |
| FREE CASH FLOW | $68M |
| Net Change in Cash | $380M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.1B |
| Short-Term Investments | $1.2B |
| Net Receivables | $717M |
| Inventory | $0 |
| Other Current Assets | $4.2B |
| TOTAL CURRENT ASSETS | $7.2B |
| PP&E (Net) | $173M |
| Goodwill | $2.4B |
| Intangible Assets | $223M |
| Long-Term Investments | $5M |
| Tax Assets | $0 |
| Other Non-Current Assets | $28M |
| TOTAL NON-CURRENT ASSETS | $2.8B |
| TOTAL ASSETS | $10.1B |
| Account Payables | $16M |
| Short-Term Debt | $213M |
| Deferred Revenue | $22M |
| Other Current Liabilities | $4.3B |
| TOTAL CURRENT LIABILITIES | $4.6B |
| Long-Term Debt | $1.5B |
| Deferred Revenue NC | $285.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $1.6B |
| TOTAL LIABILITIES | $6.1B |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $5.4B |
| Retained Earnings | -$1.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $10M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.9B |
| TOTAL LIABILITIES & EQUITY | $10.1B |
| Total Debt | $1.8B |
| Net Debt | $633M |
