| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $209M | $188M | $159M | 11.4% | 31.4% |
| Op. Income | $64M | $35M | $35M | 81.2% | 82.6% |
| Gross Margin | 61.7% | 57.7% | 60.8% | 4.0pp | 0.9pp |
| Net Margin | 15.0% | 6.4% | 5.9% | 8.7pp | 9.2pp |
| EPS (Diluted) | $0.84 | $0.34 | $0.27 | 147.1% | 211.1% |
| Free Cash Flow | $78M | $72M | -$9M | 8.1% | 946.6% |
| Item | Amount |
|---|---|
| REVENUE | $209M |
| Cost of Revenue | $80M |
| GROSS PROFIT | $129M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $66M |
| Other Expenses | $0 |
| Operating Expenses | $66M |
| Cost & Expenses | $146M |
| OPERATING INCOME | $64M |
| Interest Income | $3M |
| Interest Expense | $22M |
| Other Income/Expenses | -$20M |
| INCOME BEFORE TAX | $43M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $32M |
| Net Income Deductions | -$2M |
| BOTTOM LINE NET INCOME | $33M |
| D&A | $57M |
| EBIT | $65M |
| EBITDA | $122M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $209M |
| Cost of Revenue | $80M |
| GROSS PROFIT | $129M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $66M |
| Other Expenses | $0 |
| Operating Expenses | $66M |
| Cost & Expenses | $146M |
| OPERATING INCOME | $64M |
| Interest Income | $3M |
| Interest Expense | $22M |
| Other Income/Expenses | -$20M |
| INCOME BEFORE TAX | $43M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $32M |
| Net Income Deductions | -$2M |
| BOTTOM LINE NET INCOME | $33M |
| D&A | $57M |
| EBIT | $65M |
| EBITDA | $122M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $32M |
| Depreciation & Amortization | $57M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | -$12M |
| Other Non-Cash Items | $1M |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | $78M |
| Capital Expenditure | -$188.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$45M |
| Sales/Maturities of Investments | $15M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$31M |
| Net Debt Issuance | -$16M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$964.0K |
| NET CASH FROM FINANCING | -$15M |
| FREE CASH FLOW | $78M |
| Net Change in Cash | $33M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $170M |
| Short-Term Investments | $136M |
| Net Receivables | $234M |
| Inventory | $38M |
| Other Current Assets | $36M |
| TOTAL CURRENT ASSETS | $614M |
| PP&E (Net) | $17M |
| Goodwill | $146M |
| Intangible Assets | $725M |
| Long-Term Investments | $1M |
| Tax Assets | $102M |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $993M |
| TOTAL ASSETS | $1.6B |
| Account Payables | $8M |
| Short-Term Debt | $66M |
| Deferred Revenue | $667.0K |
| Other Current Liabilities | $365M |
| TOTAL CURRENT LIABILITIES | $453M |
| Long-Term Debt | $866M |
| Deferred Revenue NC | $9M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $880M |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $41.0K |
| Additional Paid-In Capital | $615M |
| Retained Earnings | -$118M |
| Treasury Stock | -$223M |
| Accum. Other Comp. Income | $292.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $275M |
| Minority Interest | $0 |
| TOTAL EQUITY | $275M |
| TOTAL LIABILITIES & EQUITY | $1.6B |
| Total Debt | $936M |
| Net Debt | $766M |
