| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $216M | $210M | $193M | 2.9% | 11.8% |
| Op. Income | $90M | $63M | $76M | 41.8% | 17.8% |
| Gross Margin | 76.2% | 63.3% | 73.8% | 12.9pp | 2.4pp |
| Net Margin | 33.9% | 24.9% | 32.2% | 9.0pp | 1.7pp |
| EPS (Diluted) | $0.51 | $0.36 | $0.43 | 41.7% | 18.6% |
| Free Cash Flow | $73M | $77M | $80M | -5.0% | -8.6% |
| Item | Amount |
|---|---|
| REVENUE | $216M |
| Cost of Revenue | $52M |
| GROSS PROFIT | $165M |
| R&D Expenses | $0 |
| Selling & Marketing | $770.0K |
| General & Administrative | $77M |
| SG&A Expenses | $78M |
| Other Expenses | -$2M |
| Operating Expenses | $75M |
| Cost & Expenses | $127M |
| OPERATING INCOME | $90M |
| Interest Income | $183M |
| Interest Expense | $52M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $90M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $73M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $73M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $73M |
| D&A | $0 |
| EBIT | $90M |
| EBITDA | $90M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $216M |
| Cost of Revenue | $52M |
| GROSS PROFIT | $165M |
| R&D Expenses | $0 |
| Selling & Marketing | $770.0K |
| General & Administrative | $77M |
| SG&A Expenses | $78M |
| Other Expenses | -$2M |
| Operating Expenses | $75M |
| Cost & Expenses | $127M |
| OPERATING INCOME | $90M |
| Interest Income | $183M |
| Interest Expense | $52M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $90M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $73M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $73M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $73M |
| D&A | $0 |
| EBIT | $90M |
| EBITDA | $90M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $73M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $46M |
| Change in Working Capital | -$41M |
| OPERATING CASH FLOW | $79M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $2M |
| Purchases of Investments | -$2.8B |
| Sales/Maturities of Investments | $2.6B |
| Other Investing Activities | $81M |
| NET CASH FROM INVESTING | -$136M |
| Net Debt Issuance | $12M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$27M |
| Other Financing Activities | $499M |
| NET CASH FROM FINANCING | $485M |
| FREE CASH FLOW | $73M |
| Net Change in Cash | $427M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.1B |
| Short-Term Investments | $0 |
| Net Receivables | $8.1B |
| Inventory | $0 |
| Other Current Assets | $30M |
| TOTAL CURRENT ASSETS | $9.2B |
| PP&E (Net) | $150M |
| Goodwill | $313M |
| Intangible Assets | $171.0K |
| Long-Term Investments | $5.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $308M |
| TOTAL NON-CURRENT ASSETS | $6.3B |
| TOTAL ASSETS | $15.4B |
| Account Payables | $13.3B |
| Short-Term Debt | $22M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $99M |
| TOTAL CURRENT LIABILITIES | $13.5B |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $13.5B |
| Common Stock | $1M |
| Additional Paid-In Capital | $697M |
| Retained Earnings | $1.4B |
| Treasury Stock | -$14M |
| Accum. Other Comp. Income | -$222M |
| Other Equity | $14M |
| TOTAL STOCKHOLDERS' EQUITY | $1.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.9B |
| TOTAL LIABILITIES & EQUITY | $15.4B |
| Total Debt | $22M |
| Net Debt | -$1.1B |
