| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $315M | $299M | $261M | 5.5% | 20.5% |
| Op. Income | -$80M | -$83M | -$106M | 4.5% | 24.8% |
| Gross Margin | 74.7% | 74.2% | 74.1% | 0.5pp | 0.6pp |
| Net Margin | -25.2% | -22.3% | -33.7% | -2.9pp | 8.5pp |
| EPS (Diluted) | $-0.23 | $-0.19 | $-0.27 | -21.1% | 14.8% |
| Free Cash Flow | $42M | $25M | $29M | 69.5% | 43.1% |
| Item | Amount |
|---|---|
| REVENUE | $315M |
| Cost of Revenue | $80M |
| GROSS PROFIT | $235M |
| R&D Expenses | $115M |
| Selling & Marketing | $147M |
| General & Administrative | $53M |
| SG&A Expenses | $200M |
| Other Expenses | $0 |
| Operating Expenses | $315M |
| Cost & Expenses | $394M |
| OPERATING INCOME | -$80M |
| Interest Income | $0 |
| Interest Expense | $900.0K |
| Other Income/Expenses | -$84.0K |
| INCOME BEFORE TAX | -$80M |
| Income Tax Expense | -$393.0K |
| Net Income from Continuing Ops | -$79M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$79M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$79M |
| D&A | $8M |
| EBIT | -$80M |
| EBITDA | -$72M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$79M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $102M |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $14M |
| Change in Working Capital | $230.0K |
| OPERATING CASH FLOW | $42M |
| Capital Expenditure | -$442.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$353M |
| Sales/Maturities of Investments | $342M |
| Other Investing Activities | -$6M |
| NET CASH FROM INVESTING | -$18M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $25M |
| FREE CASH FLOW | $42M |
| Net Change in Cash | $49M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $347M |
| Short-Term Investments | $1.7B |
| Net Receivables | $391M |
| Inventory | $0 |
| Other Current Assets | $162M |
| TOTAL CURRENT ASSETS | $2.6B |
| PP&E (Net) | $98M |
| Goodwill | $164M |
| Intangible Assets | $6M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $110M |
| TOTAL NON-CURRENT ASSETS | $378M |
| TOTAL ASSETS | $3.0B |
| Account Payables | $21M |
| Short-Term Debt | $0 |
| Deferred Revenue | $469M |
| Other Current Liabilities | $79M |
| TOTAL CURRENT LIABILITIES | $681M |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $30M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $7M |
| TOTAL NON-CURRENT LIABILITIES | $1.1B |
| TOTAL LIABILITIES | $1.8B |
| Common Stock | $4.0K |
| Additional Paid-In Capital | $3.4B |
| Retained Earnings | -$2.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $3.0B |
| Total Debt | $1.1B |
| Net Debt | $758M |
