| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $160M | $163M | $154M | -1.6% | 3.6% |
| Op. Income | $57M | $50M | $40M | 13.5% | 40.3% |
| Gross Margin | 73.2% | 66.8% | 62.5% | 6.4pp | 10.7pp |
| Net Margin | 21.6% | 22.9% | 19.6% | -1.3pp | 1.9pp |
| EPS (Diluted) | $0.76 | $0.82 | $0.69 | -7.3% | 10.1% |
| Free Cash Flow | $58M | $38M | $51M | 53.1% | 14.5% |
| Item | Amount |
|---|---|
| REVENUE | $160M |
| Cost of Revenue | $43M |
| GROSS PROFIT | $117M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $54M |
| SG&A Expenses | $54M |
| Other Expenses | $6M |
| Operating Expenses | $60M |
| Cost & Expenses | $103M |
| OPERATING INCOME | $57M |
| Interest Income | $144M |
| Interest Expense | $43M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | $47M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $35M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $35M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $35M |
| D&A | $1M |
| EBIT | $57M |
| EBITDA | $58M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $160M |
| Cost of Revenue | $43M |
| GROSS PROFIT | $117M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $54M |
| SG&A Expenses | $54M |
| Other Expenses | $6M |
| Operating Expenses | $60M |
| Cost & Expenses | $103M |
| OPERATING INCOME | $57M |
| Interest Income | $144M |
| Interest Expense | $43M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | $47M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $35M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $35M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $35M |
| D&A | $1M |
| EBIT | $57M |
| EBITDA | $58M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $35M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $6M |
| Other Non-Cash Items | $7M |
| Change in Working Capital | $8M |
| OPERATING CASH FLOW | $59M |
| Capital Expenditure | -$516.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$31M |
| Sales/Maturities of Investments | $152M |
| Other Investing Activities | -$78M |
| NET CASH FROM INVESTING | $42M |
| Net Debt Issuance | -$55M |
| Common Stock Repurchased | -$10M |
| Common Dividends Paid | -$5M |
| Other Financing Activities | -$142M |
| NET CASH FROM FINANCING | -$211M |
| FREE CASH FLOW | $58M |
| Net Change in Cash | -$110M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $60M |
| Short-Term Investments | $1.4B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $58M |
| Goodwill | $201M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $42M |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $300M |
| TOTAL ASSETS | $9.7B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $4.8B |
| TOTAL CURRENT LIABILITIES | $4.8B |
| Long-Term Debt | $565M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $3.1B |
| TOTAL NON-CURRENT LIABILITIES | $3.6B |
| TOTAL LIABILITIES | $8.4B |
| Common Stock | $471.0K |
| Additional Paid-In Capital | $761M |
| Retained Earnings | $646M |
| Treasury Stock | -$66M |
| Accum. Other Comp. Income | -$73M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.3B |
| TOTAL LIABILITIES & EQUITY | $9.7B |
| Total Debt | $565M |
| Net Debt | $505M |
