| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $65M | $64M | $61M | 1.5% | 5.9% |
| Op. Income | $11M | $7M | $11M | 54.9% | 3.7% |
| Gross Margin | 65.2% | 54.9% | 63.3% | 10.3pp | 1.9pp |
| Net Margin | 13.1% | 8.5% | 13.6% | 4.6pp | -0.5pp |
| EPS (Diluted) | $0.39 | $0.24 | $0.36 | 62.5% | 8.3% |
| Free Cash Flow | $7M | $10M | $8M | -30.8% | -14.5% |
| Item | Amount |
|---|---|
| REVENUE | $65M |
| Cost of Revenue | $22M |
| GROSS PROFIT | $42M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $20M |
| SG&A Expenses | $20M |
| Other Expenses | $11M |
| Operating Expenses | $31M |
| Cost & Expenses | $53M |
| OPERATING INCOME | $11M |
| Interest Income | $59M |
| Interest Expense | $25M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $11M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $0 |
| EBIT | $11M |
| EBITDA | $11M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $65M |
| Cost of Revenue | $22M |
| GROSS PROFIT | $42M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $20M |
| SG&A Expenses | $20M |
| Other Expenses | $11M |
| Operating Expenses | $31M |
| Cost & Expenses | $53M |
| OPERATING INCOME | $11M |
| Interest Income | $59M |
| Interest Expense | $25M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $11M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $0 |
| EBIT | $11M |
| EBITDA | $11M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $8M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $11M |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | $12M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$11M |
| NET CASH FROM INVESTING | -$11M |
| Net Debt Issuance | -$106M |
| Common Stock Repurchased | -$6M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $109M |
| NET CASH FROM FINANCING | -$2M |
| FREE CASH FLOW | $7M |
| Net Change in Cash | -$2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $105M |
| Short-Term Investments | $692M |
| Net Receivables | $18M |
| Inventory | $0 |
| Other Current Assets | -$18M |
| TOTAL CURRENT ASSETS | $797M |
| PP&E (Net) | $72M |
| Goodwill | $1M |
| Intangible Assets | $940.0K |
| Long-Term Investments | $4.1B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$4.1B |
| TOTAL NON-CURRENT ASSETS | $75M |
| TOTAL ASSETS | $4.9B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $140M |
| TOTAL CURRENT LIABILITIES | $140M |
| Long-Term Debt | $179M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4.3B |
| TOTAL NON-CURRENT LIABILITIES | $4.4B |
| TOTAL LIABILITIES | $4.4B |
| Common Stock | $22M |
| Additional Paid-In Capital | $75M |
| Retained Earnings | $365M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$42M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $420M |
| Minority Interest | $0 |
| TOTAL EQUITY | $420M |
| TOTAL LIABILITIES & EQUITY | $4.9B |
| Total Debt | $179M |
| Net Debt | $73M |
