| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $182M | $177M | $163M | 2.7% | 11.8% |
| Op. Income | $74M | $70M | $113M | 5.3% | -34.6% |
| Gross Margin | 43.9% | 42.7% | 72.9% | 1.2pp | -29.0pp |
| Net Margin | 36.8% | 35.7% | 33.9% | 1.0pp | 2.9pp |
| EPS (Diluted) | $1.26 | $1.20 | $1.13 | 5.0% | 11.5% |
| Free Cash Flow | $120M | $119M | $109M | 0.9% | 10.8% |
| Item | Amount |
|---|---|
| REVENUE | $182M |
| Cost of Revenue | $102M |
| GROSS PROFIT | $80M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | $0 |
| Operating Expenses | $6M |
| Cost & Expenses | $108M |
| OPERATING INCOME | $74M |
| Interest Income | $0 |
| Interest Expense | $8M |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | $67M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $67M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $67M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $67M |
| D&A | $54M |
| EBIT | $75M |
| EBITDA | $129M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $182M |
| Cost of Revenue | $102M |
| GROSS PROFIT | $80M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | $0 |
| Operating Expenses | $6M |
| Cost & Expenses | $108M |
| OPERATING INCOME | $74M |
| Interest Income | $0 |
| Interest Expense | $8M |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | $67M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $67M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $67M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $67M |
| D&A | $54M |
| EBIT | $75M |
| EBITDA | $129M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $67M |
| Depreciation & Amortization | $54M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $15M |
| OPERATING CASH FLOW | $139M |
| Capital Expenditure | -$19M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$205M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$13M |
| NET CASH FROM INVESTING | -$237M |
| Net Debt Issuance | $25M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$74M |
| Other Financing Activities | $70.0K |
| NET CASH FROM FINANCING | $68M |
| FREE CASH FLOW | $120M |
| Net Change in Cash | -$30M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3M |
| Short-Term Investments | $0 |
| Net Receivables | $107M |
| Inventory | $0 |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $122M |
| PP&E (Net) | $2M |
| Goodwill | $990.0K |
| Intangible Assets | $38M |
| Long-Term Investments | $7M |
| Tax Assets | $0 |
| Other Non-Current Assets | $5.2B |
| TOTAL NON-CURRENT ASSETS | $5.2B |
| TOTAL ASSETS | $5.4B |
| Account Payables | $10M |
| Short-Term Debt | $42M |
| Deferred Revenue | $21M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $294M |
| Long-Term Debt | $1.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $75M |
| TOTAL NON-CURRENT LIABILITIES | $1.6B |
| TOTAL LIABILITIES | $1.8B |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $3.9B |
| Retained Earnings | -$444M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $9M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.5B |
| Minority Interest | $332.0K |
| TOTAL EQUITY | $3.5B |
| TOTAL LIABILITIES & EQUITY | $5.4B |
| Total Debt | $1.5B |
| Net Debt | $1.5B |
