| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $223M | $170M | $60M | 31.2% | 273.6% |
| Op. Income | $61M | $34M | -$14M | 79.8% | 520.3% |
| Gross Margin | 67.4% | 67.2% | 62.4% | 0.2pp | 5.0pp |
| Net Margin | 28.4% | 21.5% | -16.0% | 6.9pp | 44.4pp |
| EPS (Diluted) | $0.34 | $0.20 | $-0.06 | 70.0% | 688.2% |
| Free Cash Flow | $51M | $54M | -$13M | -5.2% | 492.0% |
| Item | Amount |
|---|---|
| REVENUE | $223M |
| Cost of Revenue | $73M |
| GROSS PROFIT | $150M |
| R&D Expenses | $52M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $37M |
| Other Expenses | $0 |
| Operating Expenses | $90M |
| Cost & Expenses | $162M |
| OPERATING INCOME | $61M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | $65M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $63M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $63M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $63M |
| D&A | $5M |
| EBIT | $65M |
| EBITDA | $70M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $223M |
| Cost of Revenue | $73M |
| GROSS PROFIT | $150M |
| R&D Expenses | $52M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $37M |
| Other Expenses | $0 |
| Operating Expenses | $90M |
| Cost & Expenses | $162M |
| OPERATING INCOME | $61M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | $65M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $63M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $63M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $63M |
| D&A | $5M |
| EBIT | $65M |
| EBITDA | $70M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $63M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $35M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$52M |
| OPERATING CASH FLOW | $54M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$115M |
| Sales/Maturities of Investments | $50M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$68M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$8M |
| NET CASH FROM FINANCING | -$3M |
| FREE CASH FLOW | $51M |
| Net Change in Cash | -$17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $220M |
| Short-Term Investments | $260M |
| Net Receivables | $192M |
| Inventory | $117M |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $804M |
| PP&E (Net) | $84M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $17M |
| TOTAL NON-CURRENT ASSETS | $102M |
| TOTAL ASSETS | $905M |
| Account Payables | $55M |
| Short-Term Debt | $3M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $34M |
| TOTAL CURRENT LIABILITIES | $108M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $15M |
| TOTAL LIABILITIES | $124M |
| Common Stock | $9.0K |
| Additional Paid-In Capital | $802M |
| Retained Earnings | -$20M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$428.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $781M |
| Minority Interest | $0 |
| TOTAL EQUITY | $781M |
| TOTAL LIABILITIES & EQUITY | $905M |
| Total Debt | $16M |
| Net Debt | -$204M |
