| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $167M | $141M | $138M | 18.3% | 20.7% |
| Op. Income | $17M | $18M | $17M | -4.1% | -0.1% |
| Gross Margin | 54.0% | 37.7% | 33.4% | 16.3pp | 20.7pp |
| Net Margin | 7.6% | 9.7% | 9.7% | -2.1pp | -2.1pp |
| EPS (Diluted) | $0.82 | $0.88 | $0.94 | -6.8% | -12.8% |
| Free Cash Flow | $56M | $57M | $59M | -2.6% | -5.2% |
| Item | Amount |
|---|---|
| REVENUE | $167M |
| Cost of Revenue | $77M |
| GROSS PROFIT | $90M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $25M |
| SG&A Expenses | $25M |
| Other Expenses | $48M |
| Operating Expenses | $73M |
| Cost & Expenses | $149M |
| OPERATING INCOME | $17M |
| Interest Income | $108M |
| Interest Expense | $29M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $17M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $13M |
| D&A | $0 |
| EBIT | $17M |
| EBITDA | $17M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $167M |
| Cost of Revenue | $77M |
| GROSS PROFIT | $90M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $25M |
| SG&A Expenses | $25M |
| Other Expenses | $48M |
| Operating Expenses | $73M |
| Cost & Expenses | $149M |
| OPERATING INCOME | $17M |
| Interest Income | $108M |
| Interest Expense | $29M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $17M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $13M |
| D&A | $0 |
| EBIT | $17M |
| EBITDA | $17M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $13M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $54.0K |
| Other Non-Cash Items | $48M |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | $58M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$3M |
| Sales/Maturities of Investments | $841.0K |
| Other Investing Activities | -$130M |
| NET CASH FROM INVESTING | -$134M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $171M |
| NET CASH FROM FINANCING | $171M |
| FREE CASH FLOW | $56M |
| Net Change in Cash | $95M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $34M |
| Short-Term Investments | $29.0K |
| Net Receivables | $3.6B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $3.6B |
| PP&E (Net) | $34M |
| Goodwill | $0 |
| Intangible Assets | $5M |
| Long-Term Investments | $4.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$4.4B |
| TOTAL NON-CURRENT ASSETS | $39M |
| TOTAL ASSETS | $4.7B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $5M |
| Long-Term Debt | $53M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $853.0K |
| Other Non-Current Liabilities | $4.0B |
| TOTAL NON-CURRENT LIABILITIES | $4.0B |
| TOTAL LIABILITIES | $4.3B |
| Common Stock | $233M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $258M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $491M |
| Minority Interest | $0 |
| TOTAL EQUITY | $491M |
| TOTAL LIABILITIES & EQUITY | $4.7B |
| Total Debt | $58M |
| Net Debt | $24M |
