| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $285M | $282M | $271M | 1.0% | 5.2% |
| Op. Income | $111M | $112M | $124M | -0.8% | -10.1% |
| Gross Margin | 68.1% | 44.9% | 69.8% | 23.2pp | -1.6pp |
| Net Margin | 29.1% | 29.4% | 37.2% | -0.3pp | -8.1pp |
| EPS (Diluted) | $0.36 | $0.36 | $0.44 | 0.0% | -18.2% |
| Free Cash Flow | $183M | $157M | $145M | 16.2% | 25.9% |
| Item | Amount |
|---|---|
| REVENUE | $285M |
| Cost of Revenue | $91M |
| GROSS PROFIT | $194M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $17M |
| SG&A Expenses | $17M |
| Other Expenses | $67M |
| Operating Expenses | $83M |
| Cost & Expenses | $174M |
| OPERATING INCOME | $111M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$29M |
| INCOME BEFORE TAX | $82M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $82M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $83M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $83M |
| D&A | $68M |
| EBIT | $112M |
| EBITDA | $180M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $285M |
| Cost of Revenue | $91M |
| GROSS PROFIT | $194M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $17M |
| SG&A Expenses | $17M |
| Other Expenses | $67M |
| Operating Expenses | $83M |
| Cost & Expenses | $174M |
| OPERATING INCOME | $111M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$29M |
| INCOME BEFORE TAX | $82M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $82M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $83M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $83M |
| D&A | $68M |
| EBIT | $112M |
| EBITDA | $180M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $83M |
| Depreciation & Amortization | $68M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $692.0K |
| Change in Working Capital | $14M |
| OPERATING CASH FLOW | $168M |
| Capital Expenditure | $15M |
| Acquisitions (Net) | $303.0K |
| Purchases of Investments | -$8M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$22M |
| Net Debt Issuance | $73M |
| Common Stock Repurchased | -$111.0K |
| Common Dividends Paid | -$119M |
| Other Financing Activities | -$751.0K |
| NET CASH FROM FINANCING | -$47M |
| FREE CASH FLOW | $183M |
| Net Change in Cash | $100M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $108M |
| Short-Term Investments | $0 |
| Net Receivables | $33M |
| Inventory | $0 |
| Other Current Assets | $73M |
| TOTAL CURRENT ASSETS | $232M |
| PP&E (Net) | $49M |
| Goodwill | $0 |
| Intangible Assets | $15M |
| Long-Term Investments | $74M |
| Tax Assets | $0 |
| Other Non-Current Assets | $6.4B |
| TOTAL NON-CURRENT ASSETS | $6.5B |
| TOTAL ASSETS | $6.8B |
| Account Payables | $246M |
| Short-Term Debt | $0 |
| Deferred Revenue | $43M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $409M |
| Long-Term Debt | $3.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $3.5B |
| TOTAL LIABILITIES | $3.9B |
| Common Stock | $2M |
| Additional Paid-In Capital | $4.3B |
| Retained Earnings | -$1.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$270.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.8B |
| Minority Interest | $73M |
| TOTAL EQUITY | $2.9B |
| TOTAL LIABILITIES & EQUITY | $6.8B |
| Total Debt | $3.5B |
| Net Debt | $3.4B |
