| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $100M | $48M | $83M | 111.2% | 20.8% |
| Op. Income | $26M | -$31M | $20M | 184.9% | 29.7% |
| Gross Margin | 72.7% | -62.0% | 69.2% | 134.7pp | 3.6pp |
| Net Margin | 22.0% | -62.4% | 20.4% | 84.4pp | 1.6pp |
| EPS (Diluted) | $1.15 | $-1.55 | $1.04 | 174.2% | 10.6% |
| Free Cash Flow | -$12M | $4M | $20M | -372.1% | -161.0% |
| Item | Amount |
|---|---|
| REVENUE | $100M |
| Cost of Revenue | $27M |
| GROSS PROFIT | $73M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $22M |
| SG&A Expenses | $24M |
| Other Expenses | $23M |
| Operating Expenses | $47M |
| Cost & Expenses | $74M |
| OPERATING INCOME | $26M |
| Interest Income | $91M |
| Interest Expense | $27M |
| Other Income/Expenses | $16.0K |
| INCOME BEFORE TAX | $26M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $22M |
| D&A | $1M |
| EBIT | $26M |
| EBITDA | $28M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $100M |
| Cost of Revenue | $27M |
| GROSS PROFIT | $73M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $22M |
| SG&A Expenses | $24M |
| Other Expenses | $23M |
| Operating Expenses | $47M |
| Cost & Expenses | $74M |
| OPERATING INCOME | $26M |
| Interest Income | $91M |
| Interest Expense | $27M |
| Other Income/Expenses | $16.0K |
| INCOME BEFORE TAX | $26M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $22M |
| D&A | $1M |
| EBIT | $26M |
| EBITDA | $28M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $22M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | -$5M |
| Other Non-Cash Items | -$49M |
| Change in Working Capital | $21M |
| OPERATING CASH FLOW | -$7M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $540M |
| Sales/Maturities of Investments | -$697M |
| Other Investing Activities | $95M |
| NET CASH FROM INVESTING | -$67M |
| Net Debt Issuance | -$51M |
| Common Stock Repurchased | -$7M |
| Common Dividends Paid | -$3M |
| Other Financing Activities | $43M |
| NET CASH FROM FINANCING | -$18M |
| FREE CASH FLOW | -$12M |
| Net Change in Cash | -$92M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $608M |
| Short-Term Investments | $1.0B |
| Net Receivables | $33M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.7B |
| PP&E (Net) | $137M |
| Goodwill | $82M |
| Intangible Assets | $22M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $240M |
| TOTAL ASSETS | $6.4B |
| Account Payables | $0 |
| Short-Term Debt | $40M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.1B |
| TOTAL CURRENT LIABILITIES | $1.2B |
| Long-Term Debt | $408M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $408M |
| TOTAL LIABILITIES | $5.6B |
| Common Stock | $249.0K |
| Additional Paid-In Capital | $665M |
| Retained Earnings | $205M |
| Treasury Stock | -$145M |
| Accum. Other Comp. Income | $7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $732M |
| Minority Interest | $0 |
| TOTAL EQUITY | $732M |
| TOTAL LIABILITIES & EQUITY | $6.4B |
| Total Debt | $448M |
| Net Debt | -$159M |
