| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $109M | $108M | $105M | 0.9% | 3.9% |
| Op. Income | $67M | $7M | $7M | 846.0% | 804.9% |
| Gross Margin | 100.0% | 46.1% | 50.8% | 53.9pp | 49.2pp |
| Net Margin | 4.6% | 4.5% | 4.9% | 0.1pp | -0.3pp |
| EPS (Diluted) | $0.21 | $0.20 | $0.21 | 5.0% | 0.0% |
| Free Cash Flow | $75M | $85M | $68M | -11.8% | 10.8% |
| Item | Amount |
|---|---|
| REVENUE | $109M |
| Cost of Revenue | $352.0K |
| GROSS PROFIT | $109M |
| R&D Expenses | $0 |
| Selling & Marketing | $5M |
| General & Administrative | $13M |
| SG&A Expenses | $13M |
| Other Expenses | $30M |
| Operating Expenses | $43M |
| Cost & Expenses | $43M |
| OPERATING INCOME | $67M |
| Interest Income | $102M |
| Interest Expense | $59M |
| Other Income/Expenses | -$59M |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $5M |
| D&A | $176.0K |
| EBIT | $67M |
| EBITDA | $67M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $109M |
| Cost of Revenue | $352.0K |
| GROSS PROFIT | $109M |
| R&D Expenses | $0 |
| Selling & Marketing | $5M |
| General & Administrative | $13M |
| SG&A Expenses | $13M |
| Other Expenses | $30M |
| Operating Expenses | $43M |
| Cost & Expenses | $43M |
| OPERATING INCOME | $67M |
| Interest Income | $102M |
| Interest Expense | $59M |
| Other Income/Expenses | -$59M |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $5M |
| D&A | $176.0K |
| EBIT | $67M |
| EBITDA | $67M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $5M |
| Depreciation & Amortization | $176.0K |
| Stock-Based Compensation | $808.0K |
| Deferred Income Tax | -$16.0K |
| Other Non-Cash Items | $71M |
| Change in Working Capital | -$800.0K |
| OPERATING CASH FLOW | $76M |
| Capital Expenditure | -$471.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$98M |
| NET CASH FROM INVESTING | -$98M |
| Net Debt Issuance | $45M |
| Common Stock Repurchased | -$3M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $42M |
| FREE CASH FLOW | $75M |
| Net Change in Cash | $20M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6M |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $6M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $3.7B |
| Tax Assets | $16.0K |
| Other Non-Current Assets | -$3.7B |
| TOTAL NON-CURRENT ASSETS | $16.0K |
| TOTAL ASSETS | $3.9B |
| Account Payables | $65M |
| Short-Term Debt | $14M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$65M |
| TOTAL CURRENT LIABILITIES | $14M |
| Long-Term Debt | $3.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $6M |
| Other Non-Current Liabilities | $41M |
| TOTAL NON-CURRENT LIABILITIES | $3.5B |
| TOTAL LIABILITIES | $3.5B |
| Common Stock | $24M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $286M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $310M |
| Minority Interest | $0 |
| TOTAL EQUITY | $310M |
| TOTAL LIABILITIES & EQUITY | $3.9B |
| Total Debt | $3.5B |
| Net Debt | $3.5B |
