| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $121M | $128M | $107M | -5.1% | 13.0% |
| Op. Income | $22M | $26M | $7M | -16.5% | 215.2% |
| Gross Margin | 69.1% | 67.4% | 59.0% | 1.8pp | 10.2pp |
| Net Margin | 13.0% | 15.9% | 3.3% | -3.0pp | 9.6pp |
| EPS (Diluted) | $0.38 | $0.49 | $0.09 | -22.4% | 343.4% |
| Free Cash Flow | $54M | $48M | $68M | 12.0% | -20.9% |
| Item | Amount |
|---|---|
| REVENUE | $121M |
| Cost of Revenue | $37M |
| GROSS PROFIT | $84M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $37M |
| SG&A Expenses | $37M |
| Other Expenses | $25M |
| Operating Expenses | $62M |
| Cost & Expenses | $100M |
| OPERATING INCOME | $22M |
| Interest Income | $144M |
| Interest Expense | $37M |
| Other Income/Expenses | -$5M |
| INCOME BEFORE TAX | $17M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $16M |
| D&A | $1M |
| EBIT | $22M |
| EBITDA | $23M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $121M |
| Cost of Revenue | $37M |
| GROSS PROFIT | $84M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $37M |
| SG&A Expenses | $37M |
| Other Expenses | $25M |
| Operating Expenses | $62M |
| Cost & Expenses | $100M |
| OPERATING INCOME | $22M |
| Interest Income | $144M |
| Interest Expense | $37M |
| Other Income/Expenses | -$5M |
| INCOME BEFORE TAX | $17M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $16M |
| D&A | $1M |
| EBIT | $22M |
| EBITDA | $23M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $16M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $865.0K |
| Deferred Income Tax | $24M |
| Other Non-Cash Items | $40M |
| Change in Working Capital | -$29M |
| OPERATING CASH FLOW | $55M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$244M |
| Sales/Maturities of Investments | $363M |
| Other Investing Activities | -$301M |
| NET CASH FROM INVESTING | -$183M |
| Net Debt Issuance | -$18M |
| Common Stock Repurchased | $1.0K |
| Common Dividends Paid | -$10M |
| Other Financing Activities | -$133M |
| NET CASH FROM FINANCING | -$161M |
| FREE CASH FLOW | $54M |
| Net Change in Cash | -$288M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $147M |
| Short-Term Investments | $2.0B |
| Net Receivables | $39M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $2.2B |
| PP&E (Net) | $139M |
| Goodwill | $479M |
| Intangible Assets | $17M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $635M |
| TOTAL ASSETS | $12.7B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $9.4B |
| TOTAL CURRENT LIABILITIES | $9.4B |
| Long-Term Debt | $75M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $75M |
| TOTAL LIABILITIES | $11.0B |
| Common Stock | $974M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $830M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$149M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.7B |
| TOTAL LIABILITIES & EQUITY | $12.7B |
| Total Debt | $75M |
| Net Debt | -$72M |
