| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $205M | $209M | $182M | -1.9% | 12.9% |
| Op. Income | $59M | $64M | $38M | -6.9% | 55.4% |
| Gross Margin | 62.5% | 61.7% | 54.0% | 0.8pp | 8.5pp |
| Net Margin | 8.3% | 15.0% | 6.9% | -6.8pp | 1.4pp |
| EPS (Diluted) | $0.46 | $0.84 | $0.35 | -45.2% | 31.4% |
| Free Cash Flow | $122M | $78M | $84M | 56.4% | 45.5% |
| Item | Amount |
|---|---|
| REVENUE | $205M |
| Cost of Revenue | $77M |
| GROSS PROFIT | $128M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $68M |
| Other Expenses | $2M |
| Operating Expenses | $69M |
| Cost & Expenses | $146M |
| OPERATING INCOME | $59M |
| Interest Income | $4M |
| Interest Expense | $105M |
| Other Income/Expenses | -$30M |
| INCOME BEFORE TAX | $29M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $17M |
| Net Income Deductions | -$1M |
| BOTTOM LINE NET INCOME | $18M |
| D&A | $170M |
| EBIT | $134M |
| EBITDA | $304M |
| EPS | $1 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $205M |
| Cost of Revenue | $77M |
| GROSS PROFIT | $128M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $68M |
| Other Expenses | $2M |
| Operating Expenses | $69M |
| Cost & Expenses | $146M |
| OPERATING INCOME | $59M |
| Interest Income | $4M |
| Interest Expense | $105M |
| Other Income/Expenses | -$30M |
| INCOME BEFORE TAX | $29M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $17M |
| Net Income Deductions | -$1M |
| BOTTOM LINE NET INCOME | $18M |
| D&A | $170M |
| EBIT | $134M |
| EBITDA | $304M |
| EPS | $1 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $17M |
| Depreciation & Amortization | $59M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | -$10M |
| Other Non-Cash Items | $13M |
| Change in Working Capital | $34M |
| OPERATING CASH FLOW | $123M |
| Capital Expenditure | -$689.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$39M |
| Sales/Maturities of Investments | $20M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$20M |
| Net Debt Issuance | -$22M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$861.0K |
| NET CASH FROM FINANCING | -$22M |
| FREE CASH FLOW | $122M |
| Net Change in Cash | $81M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $251M |
| Short-Term Investments | $155M |
| Net Receivables | $211M |
| Inventory | $41M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $691M |
| PP&E (Net) | $16M |
| Goodwill | $146M |
| Intangible Assets | $670M |
| Long-Term Investments | $1M |
| Tax Assets | $113M |
| Other Non-Current Assets | $20M |
| TOTAL NON-CURRENT ASSETS | $965M |
| TOTAL ASSETS | $1.7B |
| Account Payables | $11M |
| Short-Term Debt | $30M |
| Deferred Revenue | $667.0K |
| Other Current Liabilities | $379M |
| TOTAL CURRENT LIABILITIES | $440M |
| Long-Term Debt | $906M |
| Deferred Revenue NC | $9M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$4M |
| TOTAL NON-CURRENT LIABILITIES | $915M |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $41.0K |
| Additional Paid-In Capital | $625M |
| Retained Earnings | -$101M |
| Treasury Stock | -$223M |
| Accum. Other Comp. Income | $319.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $302M |
| Minority Interest | $0 |
| TOTAL EQUITY | $302M |
| TOTAL LIABILITIES & EQUITY | $1.7B |
| Total Debt | $941M |
| Net Debt | $689M |
