| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $224M | $246M | — | -8.9% | — |
| Op. Income | $484M | $64M | — | 660.8% | — |
| Gross Margin | 60.2% | 71.9% | — | -11.6pp | — |
| Net Margin | -222.8% | 15.2% | — | -238.0pp | — |
| EPS (Diluted) | $-4.75 | $0.36 | — | -1419.4% | — |
| Free Cash Flow | $56M | $74M | — | -23.7% | — |
| Item | Amount |
|---|---|
| REVENUE | $224M |
| Cost of Revenue | $89M |
| GROSS PROFIT | $135M |
| R&D Expenses | $25M |
| Selling & Marketing | $41M |
| General & Administrative | $34M |
| SG&A Expenses | $75M |
| Other Expenses | -$449M |
| Operating Expenses | -$349M |
| Cost & Expenses | -$260M |
| OPERATING INCOME | $484M |
| Interest Income | $0 |
| Interest Expense | $9M |
| Other Income/Expenses | -$1.1B |
| INCOME BEFORE TAX | -$587M |
| Income Tax Expense | $24M |
| Net Income from Continuing Ops | -$611M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$499M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$499M |
| D&A | $5M |
| EBIT | $495M |
| EBITDA | $500M |
| EPS | -$5 |
| EPS Diluted | -$5 |
| Item | Amount |
|---|---|
| Net Income | -$499M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | $14M |
| Other Non-Cash Items | $530M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $59M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$1M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$187M |
| NET CASH FROM FINANCING | -$188M |
| FREE CASH FLOW | $56M |
| Net Change in Cash | -$132M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $176M |
| Short-Term Investments | $0 |
| Net Receivables | $83M |
| Inventory | $0 |
| Other Current Assets | $46M |
| TOTAL CURRENT ASSETS | $305M |
| PP&E (Net) | $17M |
| Goodwill | $733M |
| Intangible Assets | $351M |
| Long-Term Investments | $0 |
| Tax Assets | $42.0K |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $1.1B |
| TOTAL ASSETS | $1.4B |
| Account Payables | $9M |
| Short-Term Debt | $6M |
| Deferred Revenue | $37M |
| Other Current Liabilities | $86M |
| TOTAL CURRENT LIABILITIES | $138M |
| Long-Term Debt | $583M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $318.0K |
| Other Non-Current Liabilities | $23M |
| TOTAL NON-CURRENT LIABILITIES | $606M |
| TOTAL LIABILITIES | $744M |
| Common Stock | $1M |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $159M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $560M |
| Minority Interest | $110M |
| TOTAL EQUITY | $670M |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $588M |
| Net Debt | $413M |
