| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $202M | $221M | $222M | -8.4% | -9.0% |
| Op. Income | $35M | $43M | $49M | -18.3% | -28.8% |
| Gross Margin | 41.7% | 42.1% | 42.9% | -0.4pp | -1.3pp |
| Net Margin | 13.5% | 15.2% | 17.3% | -1.7pp | -3.8pp |
| EPS (Diluted) | $0.93 | $1.14 | $1.30 | -18.4% | -28.5% |
| Free Cash Flow | $34M | $51M | $30M | -33.2% | 12.7% |
| Item | Amount |
|---|---|
| REVENUE | $202M |
| Cost of Revenue | $118M |
| GROSS PROFIT | $84M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $49M |
| Operating Expenses | $49M |
| Cost & Expenses | $167M |
| OPERATING INCOME | $35M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | $27M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $27M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $27M |
| D&A | $0 |
| EBIT | $35M |
| EBITDA | $35M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $202M |
| Cost of Revenue | $118M |
| GROSS PROFIT | $84M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $49M |
| Operating Expenses | $49M |
| Cost & Expenses | $167M |
| OPERATING INCOME | $35M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | $27M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $27M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $27M |
| D&A | $0 |
| EBIT | $35M |
| EBITDA | $35M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $27M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $34M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$38M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$38M |
| NET CASH FROM FINANCING | -$50M |
| FREE CASH FLOW | $34M |
| Net Change in Cash | -$21M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $205M |
| Short-Term Investments | $0 |
| Net Receivables | $110M |
| Inventory | $175M |
| Other Current Assets | $17M |
| TOTAL CURRENT ASSETS | $508M |
| PP&E (Net) | $81M |
| Goodwill | $235M |
| Intangible Assets | $114M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $33M |
| TOTAL NON-CURRENT ASSETS | $463M |
| TOTAL ASSETS | $971M |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $108M |
| Other Current Liabilities | $62M |
| TOTAL CURRENT LIABILITIES | $169M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3M |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $3M |
| TOTAL LIABILITIES | $173M |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $971M |
| TOTAL STOCKHOLDERS' EQUITY | $971M |
| Minority Interest | $0 |
| TOTAL EQUITY | $971M |
| TOTAL LIABILITIES & EQUITY | $971M |
| Total Debt | $0 |
| Net Debt | -$205M |
