| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $101M | $100M | $93M | 1.1% | 8.4% |
| Op. Income | $41M | $44M | $34M | -7.3% | 17.9% |
| Gross Margin | 79.3% | 79.5% | 74.8% | -0.2pp | 4.6pp |
| Net Margin | 31.2% | 35.2% | 30.7% | -4.0pp | 0.5pp |
| EPS (Diluted) | $2.18 | $2.41 | $1.94 | -9.5% | 12.4% |
| Free Cash Flow | $34M | $36M | $33M | -6.0% | 2.4% |
| Item | Amount |
|---|---|
| REVENUE | $101M |
| Cost of Revenue | $21M |
| GROSS PROFIT | $80M |
| R&D Expenses | $0 |
| Selling & Marketing | $577.0K |
| General & Administrative | $20M |
| SG&A Expenses | $21M |
| Other Expenses | $19M |
| Operating Expenses | $40M |
| Cost & Expenses | $60M |
| OPERATING INCOME | $41M |
| Interest Income | $81M |
| Interest Expense | $21M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | $40M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $0 |
| EBIT | $41M |
| EBITDA | $41M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $101M |
| Cost of Revenue | $21M |
| GROSS PROFIT | $80M |
| R&D Expenses | $0 |
| Selling & Marketing | $577.0K |
| General & Administrative | $20M |
| SG&A Expenses | $21M |
| Other Expenses | $19M |
| Operating Expenses | $40M |
| Cost & Expenses | $60M |
| OPERATING INCOME | $41M |
| Interest Income | $81M |
| Interest Expense | $21M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | $40M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $0 |
| EBIT | $41M |
| EBITDA | $41M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $32M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $971.0K |
| Deferred Income Tax | $108.0K |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | $34M |
| Capital Expenditure | -$743.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$61M |
| Sales/Maturities of Investments | $78M |
| Other Investing Activities | -$97M |
| NET CASH FROM INVESTING | -$80M |
| Net Debt Issuance | -$782.0K |
| Common Stock Repurchased | -$17M |
| Common Dividends Paid | -$13M |
| Other Financing Activities | $43M |
| NET CASH FROM FINANCING | $12M |
| FREE CASH FLOW | $34M |
| Net Change in Cash | -$34M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $152M |
| Short-Term Investments | $1.5B |
| Net Receivables | $21M |
| Inventory | $0 |
| Other Current Assets | -$1.6B |
| TOTAL CURRENT ASSETS | $102M |
| PP&E (Net) | $69M |
| Goodwill | $0 |
| Intangible Assets | $158M |
| Long-Term Investments | $4.6B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.8B |
| TOTAL NON-CURRENT ASSETS | $6.6B |
| TOTAL ASSETS | $6.7B |
| Account Payables | $0 |
| Short-Term Debt | $368M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.8B |
| TOTAL CURRENT LIABILITIES | $3.1B |
| Long-Term Debt | $150M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.2B |
| TOTAL NON-CURRENT LIABILITIES | $1.3B |
| TOTAL LIABILITIES | $5.9B |
| Common Stock | $48M |
| Additional Paid-In Capital | $175M |
| Retained Earnings | $935M |
| Treasury Stock | -$271M |
| Accum. Other Comp. Income | -$77M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $810M |
| Minority Interest | $0 |
| TOTAL EQUITY | $810M |
| TOTAL LIABILITIES & EQUITY | $6.7B |
| Total Debt | $518M |
| Net Debt | $366M |
