| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $36M | $40M | $41M | -10.9% | -11.1% |
| Op. Income | $5M | $8M | $10M | -32.7% | -46.7% |
| Gross Margin | 60.4% | 66.5% | 69.6% | -6.0pp | -9.2pp |
| Net Margin | 12.4% | 16.2% | 20.2% | -3.8pp | -7.8pp |
| EPS (Diluted) | $0.25 | $0.42 | $0.53 | -40.5% | -52.8% |
| Free Cash Flow | $9M | $11M | $12M | -17.4% | -23.1% |
| Item | Amount |
|---|---|
| REVENUE | $36M |
| Cost of Revenue | $14M |
| GROSS PROFIT | $22M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $15M |
| SG&A Expenses | $15M |
| Other Expenses | $1M |
| Operating Expenses | $16M |
| Cost & Expenses | $31M |
| OPERATING INCOME | $5M |
| Interest Income | $41M |
| Interest Expense | $13M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $926.0K |
| Net Income from Continuing Ops | $4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4M |
| D&A | $0 |
| EBIT | $5M |
| EBITDA | $5M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $36M |
| Cost of Revenue | $14M |
| GROSS PROFIT | $22M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $15M |
| SG&A Expenses | $15M |
| Other Expenses | $1M |
| Operating Expenses | $16M |
| Cost & Expenses | $31M |
| OPERATING INCOME | $5M |
| Interest Income | $41M |
| Interest Expense | $13M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $926.0K |
| Net Income from Continuing Ops | $4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4M |
| D&A | $0 |
| EBIT | $5M |
| EBITDA | $5M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $4M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $20M |
| Change in Working Capital | -$14M |
| OPERATING CASH FLOW | $11M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $50M |
| NET CASH FROM INVESTING | $50M |
| Net Debt Issuance | -$31M |
| Common Stock Repurchased | -$10.0K |
| Common Dividends Paid | -$5M |
| Other Financing Activities | -$102M |
| NET CASH FROM FINANCING | -$137M |
| FREE CASH FLOW | $9M |
| Net Change in Cash | -$77M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $46M |
| Short-Term Investments | $291M |
| Net Receivables | $12M |
| Inventory | $0 |
| Other Current Assets | $206M |
| TOTAL CURRENT ASSETS | $555M |
| PP&E (Net) | $28M |
| Goodwill | $63M |
| Intangible Assets | $12M |
| Long-Term Investments | $2.3B |
| Tax Assets | $0 |
| Other Non-Current Assets | $152M |
| TOTAL NON-CURRENT ASSETS | $2.6B |
| TOTAL ASSETS | $3.1B |
| Account Payables | $0 |
| Short-Term Debt | $42M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.6B |
| TOTAL CURRENT LIABILITIES | $2.6B |
| Long-Term Debt | $149M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $46M |
| TOTAL NON-CURRENT LIABILITIES | $197M |
| TOTAL LIABILITIES | $2.8B |
| Common Stock | $18M |
| Additional Paid-In Capital | $186M |
| Retained Earnings | $171M |
| Treasury Stock | -$11M |
| Accum. Other Comp. Income | -$23M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $341M |
| Minority Interest | $0 |
| TOTAL EQUITY | $341M |
| TOTAL LIABILITIES & EQUITY | $3.1B |
| Total Debt | $193M |
| Net Debt | $147M |
