| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $330M | $324M | $321M | 2.0% | 2.7% |
| Op. Income | $79M | $91M | $67M | -12.7% | 18.3% |
| Gross Margin | 69.3% | 69.5% | 66.8% | -0.2pp | 2.4pp |
| Net Margin | 18.9% | 22.2% | 20.2% | -3.3pp | -1.3pp |
| EPS (Diluted) | $0.64 | $0.75 | $0.68 | -14.7% | -5.9% |
| Free Cash Flow | $114M | $99M | $67M | 15.9% | 70.2% |
| Item | Amount |
|---|---|
| REVENUE | $330M |
| Cost of Revenue | $101M |
| GROSS PROFIT | $229M |
| R&D Expenses | $0 |
| Selling & Marketing | $3M |
| General & Administrative | $85M |
| SG&A Expenses | $88M |
| Other Expenses | $61M |
| Operating Expenses | $150M |
| Cost & Expenses | $251M |
| OPERATING INCOME | $79M |
| Interest Income | $265M |
| Interest Expense | $91M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $79M |
| Income Tax Expense | $17M |
| Net Income from Continuing Ops | $62M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $62M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $62M |
| D&A | $0 |
| EBIT | $79M |
| EBITDA | $79M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $330M |
| Cost of Revenue | $101M |
| GROSS PROFIT | $229M |
| R&D Expenses | $0 |
| Selling & Marketing | $3M |
| General & Administrative | $85M |
| SG&A Expenses | $88M |
| Other Expenses | $61M |
| Operating Expenses | $150M |
| Cost & Expenses | $251M |
| OPERATING INCOME | $79M |
| Interest Income | $265M |
| Interest Expense | $91M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $79M |
| Income Tax Expense | $17M |
| Net Income from Continuing Ops | $62M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $62M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $62M |
| D&A | $0 |
| EBIT | $79M |
| EBITDA | $79M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $62M |
| Depreciation & Amortization | $18M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$19M |
| Other Non-Cash Items | $14M |
| Change in Working Capital | $44M |
| OPERATING CASH FLOW | $122M |
| Capital Expenditure | -$8M |
| Acquisitions (Net) | -$187M |
| Purchases of Investments | -$835M |
| Sales/Maturities of Investments | $601M |
| Other Investing Activities | -$154M |
| NET CASH FROM INVESTING | -$584M |
| Net Debt Issuance | $296M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$24M |
| Other Financing Activities | $194M |
| NET CASH FROM FINANCING | $465M |
| FREE CASH FLOW | $114M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $179M |
| Short-Term Investments | $4.0B |
| Net Receivables | $597M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $4.7B |
| PP&E (Net) | $205M |
| Goodwill | $1.1B |
| Intangible Assets | $119M |
| Long-Term Investments | $13.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.5B |
| TOTAL NON-CURRENT ASSETS | $16.4B |
| TOTAL ASSETS | $21.1B |
| Account Payables | $0 |
| Short-Term Debt | $675M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $16.4B |
| TOTAL CURRENT LIABILITIES | $17.1B |
| Long-Term Debt | $514M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $749M |
| TOTAL NON-CURRENT LIABILITIES | $1.3B |
| TOTAL LIABILITIES | $18.4B |
| Common Stock | $1.6B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $1.4B |
| Treasury Stock | -$126M |
| Accum. Other Comp. Income | -$190M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.8B |
| TOTAL LIABILITIES & EQUITY | $21.1B |
| Total Debt | $1.2B |
| Net Debt | $1.0B |
