| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $77M | $75M | $71M | 2.6% | 7.8% |
| Op. Income | $20M | $20M | $11M | -0.9% | 82.6% |
| Gross Margin | 76.6% | 76.3% | 64.4% | 0.3pp | 12.2pp |
| Net Margin | 19.6% | 20.1% | 10.6% | -0.5pp | 9.0pp |
| EPS (Diluted) | $0.91 | $0.89 | $0.45 | 2.2% | 102.2% |
| Free Cash Flow | $18M | $32M | $24M | -43.0% | -24.5% |
| Item | Amount |
|---|---|
| REVENUE | $77M |
| Cost of Revenue | $22M |
| GROSS PROFIT | $59M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $18M |
| SG&A Expenses | $19M |
| Other Expenses | $20M |
| Operating Expenses | $39M |
| Cost & Expenses | $61M |
| OPERATING INCOME | $20M |
| Interest Income | $69M |
| Interest Expense | $18M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $20M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $15M |
| D&A | $914.0K |
| EBIT | $20M |
| EBITDA | $21M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $77M |
| Cost of Revenue | $22M |
| GROSS PROFIT | $59M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $18M |
| SG&A Expenses | $19M |
| Other Expenses | $20M |
| Operating Expenses | $39M |
| Cost & Expenses | $61M |
| OPERATING INCOME | $20M |
| Interest Income | $69M |
| Interest Expense | $18M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $20M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $15M |
| D&A | $914.0K |
| EBIT | $20M |
| EBITDA | $21M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $15M |
| Depreciation & Amortization | $200.0K |
| Stock-Based Compensation | $974.0K |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $31M |
| Change in Working Capital | -$27M |
| OPERATING CASH FLOW | $18M |
| Capital Expenditure | -$421.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $43M |
| Sales/Maturities of Investments | -$32M |
| Other Investing Activities | -$151M |
| NET CASH FROM INVESTING | -$141M |
| Net Debt Issuance | $18M |
| Common Stock Repurchased | -$9M |
| Common Dividends Paid | -$2M |
| Other Financing Activities | $181M |
| NET CASH FROM FINANCING | $190M |
| FREE CASH FLOW | $18M |
| Net Change in Cash | $67M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $31M |
| Short-Term Investments | $230M |
| Net Receivables | $26M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $287M |
| PP&E (Net) | $15M |
| Goodwill | $26M |
| Intangible Assets | $13M |
| Long-Term Investments | $3.0B |
| Tax Assets | $15M |
| Other Non-Current Assets | $291M |
| TOTAL NON-CURRENT ASSETS | $3.3B |
| TOTAL ASSETS | $3.6B |
| Account Payables | $9M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.2B |
| TOTAL CURRENT LIABILITIES | $2.2B |
| Long-Term Debt | $52M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $903M |
| TOTAL NON-CURRENT LIABILITIES | $955M |
| TOTAL LIABILITIES | $3.2B |
| Common Stock | $164.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $287M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6M |
| Other Equity | $121M |
| TOTAL STOCKHOLDERS' EQUITY | $402M |
| Minority Interest | $0 |
| TOTAL EQUITY | $402M |
| TOTAL LIABILITIES & EQUITY | $3.6B |
| Total Debt | $52M |
| Net Debt | $21M |
