| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $343M | $410M | $383M | -16.4% | -10.3% |
| Op. Income | $22M | $66M | $55M | -67.1% | -60.2% |
| Gross Margin | 44.3% | 47.8% | 51.8% | -3.5pp | -7.5pp |
| Net Margin | 11.3% | 16.2% | 16.2% | -5.0pp | -5.0pp |
| EPS (Diluted) | $0.29 | $0.50 | $0.46 | -42.0% | -37.0% |
| Free Cash Flow | $38M | $6M | $159M | 542.9% | -76.2% |
| Item | Amount |
|---|---|
| REVENUE | $343M |
| Cost of Revenue | $191M |
| GROSS PROFIT | $152M |
| R&D Expenses | $46M |
| Selling & Marketing | $49M |
| General & Administrative | $35M |
| SG&A Expenses | $84M |
| Other Expenses | $0 |
| Operating Expenses | $130M |
| Cost & Expenses | $322M |
| OPERATING INCOME | $22M |
| Interest Income | $15M |
| Interest Expense | $829.0K |
| Other Income/Expenses | $17M |
| INCOME BEFORE TAX | $39M |
| Income Tax Expense | -$16.0K |
| Net Income from Continuing Ops | $39M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $39M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $39M |
| D&A | $20M |
| EBIT | $40M |
| EBITDA | $60M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $343M |
| Cost of Revenue | $191M |
| GROSS PROFIT | $152M |
| R&D Expenses | $46M |
| Selling & Marketing | $49M |
| General & Administrative | $35M |
| SG&A Expenses | $84M |
| Other Expenses | $0 |
| Operating Expenses | $130M |
| Cost & Expenses | $322M |
| OPERATING INCOME | $22M |
| Interest Income | $15M |
| Interest Expense | $829.0K |
| Other Income/Expenses | $17M |
| INCOME BEFORE TAX | $39M |
| Income Tax Expense | -$16.0K |
| Net Income from Continuing Ops | $39M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $39M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $39M |
| D&A | $20M |
| EBIT | $40M |
| EBITDA | $60M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $39M |
| Depreciation & Amortization | $20M |
| Stock-Based Compensation | $53M |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | -$61M |
| OPERATING CASH FLOW | $48M |
| Capital Expenditure | -$10M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$143M |
| Sales/Maturities of Investments | $182M |
| Other Investing Activities | -$5M |
| NET CASH FROM INVESTING | $24M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | $38M |
| Net Change in Cash | $72M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $474M |
| Short-Term Investments | $1.0B |
| Net Receivables | $230M |
| Inventory | $288M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $2.6B |
| PP&E (Net) | $137M |
| Goodwill | $215M |
| Intangible Assets | $22M |
| Long-Term Investments | $0 |
| Tax Assets | $306M |
| Other Non-Current Assets | $223M |
| TOTAL NON-CURRENT ASSETS | $903M |
| TOTAL ASSETS | $3.5B |
| Account Payables | $203M |
| Short-Term Debt | $632M |
| Deferred Revenue | $181M |
| Other Current Liabilities | $246M |
| TOTAL CURRENT LIABILITIES | $1.3B |
| Long-Term Debt | $572M |
| Deferred Revenue NC | $338M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $251M |
| TOTAL NON-CURRENT LIABILITIES | $1.2B |
| TOTAL LIABILITIES | $2.4B |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$204M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $3.5B |
| Total Debt | $1.2B |
| Net Debt | $730M |
