| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $109M | $104M | $101M | 4.7% | 8.0% |
| Op. Income | $23M | $22M | $19M | 6.5% | 19.9% |
| Gross Margin | 48.9% | 48.4% | 45.2% | 0.5pp | 3.7pp |
| Net Margin | 17.2% | 17.6% | 11.9% | -0.4pp | 5.3pp |
| EPS (Diluted) | $0.14 | $0.14 | $0.09 | 0.0% | 50.9% |
| Free Cash Flow | $20M | $11M | -$5M | 84.6% | 508.3% |
| Item | Amount |
|---|---|
| REVENUE | $109M |
| Cost of Revenue | $56M |
| GROSS PROFIT | $53M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $17M |
| SG&A Expenses | $19M |
| Other Expenses | $11M |
| Operating Expenses | $30M |
| Cost & Expenses | $86M |
| OPERATING INCOME | $23M |
| Interest Income | $104M |
| Interest Expense | $55M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $23M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $19M |
| D&A | $2M |
| EBIT | $23M |
| EBITDA | $25M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $109M |
| Cost of Revenue | $56M |
| GROSS PROFIT | $53M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $17M |
| SG&A Expenses | $19M |
| Other Expenses | $11M |
| Operating Expenses | $30M |
| Cost & Expenses | $86M |
| OPERATING INCOME | $23M |
| Interest Income | $104M |
| Interest Expense | $55M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $23M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $19M |
| D&A | $2M |
| EBIT | $23M |
| EBITDA | $25M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $19M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $358.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $217.0K |
| Change in Working Capital | $268.0K |
| OPERATING CASH FLOW | $22M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $87M |
| Other Investing Activities | -$80M |
| NET CASH FROM INVESTING | $5M |
| Net Debt Issuance | -$121M |
| Common Stock Repurchased | -$4M |
| Common Dividends Paid | -$11M |
| Other Financing Activities | $187M |
| NET CASH FROM FINANCING | $51M |
| FREE CASH FLOW | $20M |
| Net Change in Cash | $77M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $252M |
| Short-Term Investments | $867M |
| Net Receivables | $220.0K |
| Inventory | $0 |
| Other Current Assets | $7.2B |
| TOTAL CURRENT ASSETS | $8.4B |
| PP&E (Net) | $89M |
| Goodwill | $9M |
| Intangible Assets | $223.0K |
| Long-Term Investments | $8.1B |
| Tax Assets | $24M |
| Other Non-Current Assets | -$8.1B |
| TOTAL NON-CURRENT ASSETS | $113M |
| TOTAL ASSETS | $9.8B |
| Account Payables | $0 |
| Short-Term Debt | $425M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $6.2B |
| TOTAL CURRENT LIABILITIES | $6.6B |
| Long-Term Debt | $1.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | $187M |
| TOTAL NON-CURRENT LIABILITIES | $2.1B |
| TOTAL LIABILITIES | $8.7B |
| Common Stock | $1M |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$87M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $16M |
| Other Equity | -$25M |
| TOTAL STOCKHOLDERS' EQUITY | $1.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.0B |
| TOTAL LIABILITIES & EQUITY | $9.8B |
| Total Debt | $2.0B |
| Net Debt | $1.7B |
