| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $320M | $305M | $292M | 5.2% | 9.8% |
| Op. Income | $107M | $106M | $96M | 1.0% | 11.8% |
| Gross Margin | 73.4% | 73.0% | 68.6% | 0.4pp | 4.8pp |
| Net Margin | 27.2% | 33.0% | 25.9% | -5.8pp | 1.2pp |
| EPS (Diluted) | $0.55 | $0.63 | $0.46 | -12.7% | 19.6% |
| Free Cash Flow | $106M | $135M | $95M | -21.6% | 11.0% |
| Item | Amount |
|---|---|
| REVENUE | $320M |
| Cost of Revenue | $85M |
| GROSS PROFIT | $235M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $85M |
| SG&A Expenses | $85M |
| Other Expenses | $43M |
| Operating Expenses | $128M |
| Cost & Expenses | $213M |
| OPERATING INCOME | $107M |
| Interest Income | $285M |
| Interest Expense | $62M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $107M |
| Income Tax Expense | $20M |
| Net Income from Continuing Ops | $87M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $87M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $87M |
| D&A | $0 |
| EBIT | $107M |
| EBITDA | $107M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $320M |
| Cost of Revenue | $85M |
| GROSS PROFIT | $235M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $85M |
| SG&A Expenses | $85M |
| Other Expenses | $43M |
| Operating Expenses | $128M |
| Cost & Expenses | $213M |
| OPERATING INCOME | $107M |
| Interest Income | $285M |
| Interest Expense | $62M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $107M |
| Income Tax Expense | $20M |
| Net Income from Continuing Ops | $87M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $87M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $87M |
| D&A | $0 |
| EBIT | $107M |
| EBITDA | $107M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $87M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $22M |
| Change in Working Capital | $259.0K |
| OPERATING CASH FLOW | $110M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $25.0K |
| Purchases of Investments | -$1.0B |
| Sales/Maturities of Investments | $1.1B |
| Other Investing Activities | -$108M |
| NET CASH FROM INVESTING | -$76M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$50M |
| Common Dividends Paid | -$28M |
| Other Financing Activities | -$196M |
| NET CASH FROM FINANCING | -$274M |
| FREE CASH FLOW | $106M |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $657M |
| Short-Term Investments | $0 |
| Net Receivables | $71M |
| Inventory | $0 |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $737M |
| PP&E (Net) | $127M |
| Goodwill | $39M |
| Intangible Assets | $3M |
| Long-Term Investments | $17.8B |
| Tax Assets | $149M |
| Other Non-Current Assets | $329M |
| TOTAL NON-CURRENT ASSETS | $18.4B |
| TOTAL ASSETS | $19.1B |
| Account Payables | $0 |
| Short-Term Debt | $108M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $108M |
| Long-Term Debt | $200M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $8M |
| Other Non-Current Liabilities | $16.8B |
| TOTAL NON-CURRENT LIABILITIES | $17.1B |
| TOTAL LIABILITIES | $17.2B |
| Common Stock | $22M |
| Additional Paid-In Capital | $964M |
| Retained Earnings | $2.3B |
| Treasury Stock | -$933M |
| Accum. Other Comp. Income | -$355M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.0B |
| TOTAL LIABILITIES & EQUITY | $19.1B |
| Total Debt | $364M |
| Net Debt | -$293M |
