| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $192M | $188M | $132M | 2.2% | 45.9% |
| Op. Income | $48M | $40M | -$17M | 19.3% | 379.8% |
| Gross Margin | 58.8% | 54.5% | 33.1% | 4.3pp | 25.7pp |
| Net Margin | 16.6% | 14.7% | -15.5% | 1.9pp | 32.1pp |
| EPS (Diluted) | $0.68 | $0.59 | $-0.54 | 15.3% | 225.9% |
| Free Cash Flow | $45M | $51M | $87M | -11.4% | -47.8% |
| Item | Amount |
|---|---|
| REVENUE | $192M |
| Cost of Revenue | $79M |
| GROSS PROFIT | $113M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $41M |
| SG&A Expenses | $43M |
| Other Expenses | $22M |
| Operating Expenses | $65M |
| Cost & Expenses | $144M |
| OPERATING INCOME | $48M |
| Interest Income | $180M |
| Interest Expense | $68M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $48M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $30M |
| D&A | $0 |
| EBIT | $48M |
| EBITDA | $48M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $192M |
| Cost of Revenue | $79M |
| GROSS PROFIT | $113M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $41M |
| SG&A Expenses | $43M |
| Other Expenses | $22M |
| Operating Expenses | $65M |
| Cost & Expenses | $144M |
| OPERATING INCOME | $48M |
| Interest Income | $180M |
| Interest Expense | $68M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $48M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $30M |
| D&A | $0 |
| EBIT | $48M |
| EBITDA | $48M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $32M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $15M |
| Change in Working Capital | -$738.0K |
| OPERATING CASH FLOW | $46M |
| Capital Expenditure | -$591.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$168M |
| Sales/Maturities of Investments | $41M |
| Other Investing Activities | -$47M |
| NET CASH FROM INVESTING | -$174M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$11M |
| Other Financing Activities | $780M |
| NET CASH FROM FINANCING | $767M |
| FREE CASH FLOW | $45M |
| Net Change in Cash | $639M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.4B |
| Short-Term Investments | $798M |
| Net Receivables | $56M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $3.2B |
| PP&E (Net) | $120M |
| Goodwill | $156M |
| Intangible Assets | $3M |
| Long-Term Investments | $9.7B |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.2B |
| TOTAL NON-CURRENT ASSETS | $12.1B |
| TOTAL ASSETS | $15.3B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $12.8B |
| TOTAL CURRENT LIABILITIES | $12.8B |
| Long-Term Debt | $325M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $654M |
| TOTAL NON-CURRENT LIABILITIES | $1.0B |
| TOTAL LIABILITIES | $13.9B |
| Common Stock | $462.0K |
| Additional Paid-In Capital | $623M |
| Retained Earnings | $854M |
| Treasury Stock | -$78M |
| Accum. Other Comp. Income | -$31M |
| Other Equity | -$9M |
| TOTAL STOCKHOLDERS' EQUITY | $1.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.5B |
| TOTAL LIABILITIES & EQUITY | $15.3B |
| Total Debt | $371M |
| Net Debt | -$2.0B |
