| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $52M | $47M | $46M | 10.1% | 11.8% |
| Op. Income | $11M | $7M | $9M | 53.9% | 26.5% |
| Gross Margin | 71.3% | 67.9% | 65.1% | 3.5pp | 6.3pp |
| Net Margin | 15.2% | 12.4% | 16.1% | 2.8pp | -0.9pp |
| EPS (Diluted) | $0.42 | $0.33 | $0.42 | 27.3% | 0.0% |
| Free Cash Flow | -$39M | $15M | -$4M | -365.4% | -935.1% |
| Item | Amount |
|---|---|
| REVENUE | $52M |
| Cost of Revenue | $15M |
| GROSS PROFIT | $37M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $14M |
| SG&A Expenses | $16M |
| Other Expenses | $10M |
| Operating Expenses | $26M |
| Cost & Expenses | $41M |
| OPERATING INCOME | $11M |
| Interest Income | $41M |
| Interest Expense | $15M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $10M |
| Income Tax Expense | $2M |
| 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 | $52M |
| Cost of Revenue | $15M |
| GROSS PROFIT | $37M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $14M |
| SG&A Expenses | $16M |
| Other Expenses | $10M |
| Operating Expenses | $26M |
| Cost & Expenses | $41M |
| OPERATING INCOME | $11M |
| Interest Income | $41M |
| Interest Expense | $15M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $10M |
| Income Tax Expense | $2M |
| 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 | -$5M |
| Stock-Based Compensation | $211.0K |
| Deferred Income Tax | -$945.0K |
| Other Non-Cash Items | -$43M |
| Change in Working Capital | -$12M |
| OPERATING CASH FLOW | -$39M |
| Capital Expenditure | -$777.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $31M |
| Sales/Maturities of Investments | -$90M |
| Other Investing Activities | $151M |
| NET CASH FROM INVESTING | $91M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$779.0K |
| Common Dividends Paid | -$2M |
| Other Financing Activities | $23M |
| NET CASH FROM FINANCING | $20M |
| FREE CASH FLOW | -$39M |
| Net Change in Cash | -$171M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $27M |
| Short-Term Investments | $384M |
| Net Receivables | $15M |
| Inventory | $0 |
| Other Current Assets | -$15M |
| TOTAL CURRENT ASSETS | $411M |
| PP&E (Net) | $37M |
| Goodwill | $64M |
| Intangible Assets | $8M |
| Long-Term Investments | $3.0B |
| Tax Assets | $20M |
| Other Non-Current Assets | -$3.0B |
| TOTAL NON-CURRENT ASSETS | $128M |
| TOTAL ASSETS | $3.7B |
| Account Payables | $0 |
| Short-Term Debt | $86M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $86M |
| Long-Term Debt | $173M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $3.1B |
| TOTAL NON-CURRENT LIABILITIES | $3.3B |
| TOTAL LIABILITIES | $3.4B |
| Common Stock | $21M |
| Additional Paid-In Capital | $229M |
| Retained Earnings | $161M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$34M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $376M |
| Minority Interest | $0 |
| TOTAL EQUITY | $376M |
| TOTAL LIABILITIES & EQUITY | $3.7B |
| Total Debt | $268M |
| Net Debt | $241M |
