| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $121M | $151M | $101M | -19.4% | 20.4% |
| Op. Income | -$81M | $46M | $21M | -276.8% | -486.5% |
| Gross Margin | 69.3% | 72.4% | 93.8% | -3.1pp | -24.5pp |
| Net Margin | 54.3% | 61.1% | 16.7% | -6.7pp | 37.7pp |
| EPS (Diluted) | $4.57 | $6.34 | $1.22 | -27.9% | 274.6% |
| Free Cash Flow | $91M | $85M | $40M | 7.7% | 129.3% |
| Item | Amount |
|---|---|
| REVENUE | $121M |
| Cost of Revenue | $37M |
| GROSS PROFIT | $84M |
| R&D Expenses | $0 |
| Selling & Marketing | $20M |
| General & Administrative | $25M |
| SG&A Expenses | $45M |
| Other Expenses | $121M |
| Operating Expenses | $165M |
| Cost & Expenses | $203M |
| OPERATING INCOME | -$81M |
| Interest Income | $283.0K |
| Interest Expense | $2M |
| Other Income/Expenses | $145M |
| INCOME BEFORE TAX | $64M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $66M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $66M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $66M |
| D&A | $2M |
| EBIT | $66M |
| EBITDA | $68M |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| Net Income | $66M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | -$4M |
| Other Non-Cash Items | $30M |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | $93M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$20M |
| Sales/Maturities of Investments | $21M |
| Other Investing Activities | -$52M |
| NET CASH FROM INVESTING | -$51M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$6M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | -$12M |
| FREE CASH FLOW | $91M |
| Net Change in Cash | $31M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $81M |
| Short-Term Investments | $41M |
| Net Receivables | $297M |
| Inventory | $0 |
| Other Current Assets | $18M |
| TOTAL CURRENT ASSETS | $437M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $14M |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $35M |
| TOTAL NON-CURRENT ASSETS | $51M |
| TOTAL ASSETS | $487M |
| Account Payables | $8M |
| Short-Term Debt | $75M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $31M |
| TOTAL CURRENT LIABILITIES | $114M |
| Long-Term Debt | $141.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $21M |
| TOTAL NON-CURRENT LIABILITIES | $21M |
| TOTAL LIABILITIES | $135M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $353M |
| Retained Earnings | $43M |
| Treasury Stock | -$44M |
| Accum. Other Comp. Income | $374.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $353M |
| Minority Interest | $0 |
| TOTAL EQUITY | $353M |
| TOTAL LIABILITIES & EQUITY | $487M |
| Total Debt | $75M |
| Net Debt | -$5M |
