| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $70M | $71M | $69M | -1.6% | 0.5% |
| Op. Income | $18M | $15M | $18M | 21.1% | 0.3% |
| Gross Margin | 64.5% | 65.4% | 63.3% | -0.9pp | 1.3pp |
| Net Margin | 21.0% | 17.6% | 20.8% | 3.4pp | 0.3pp |
| EPS (Diluted) | $0.39 | $0.33 | $0.38 | 18.2% | 2.6% |
| Free Cash Flow | $11M | $9M | $9M | 22.4% | 25.7% |
| Item | Amount |
|---|---|
| REVENUE | $70M |
| Cost of Revenue | $25M |
| GROSS PROFIT | $45M |
| R&D Expenses | $0 |
| Selling & Marketing | $449.0K |
| General & Administrative | $1M |
| SG&A Expenses | $2M |
| Other Expenses | $26M |
| Operating Expenses | $27M |
| Cost & Expenses | $52M |
| OPERATING INCOME | $18M |
| Interest Income | $59M |
| Interest Expense | $22M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $18M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $15M |
| D&A | $0 |
| EBIT | $18M |
| EBITDA | $18M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $70M |
| Cost of Revenue | $25M |
| GROSS PROFIT | $45M |
| R&D Expenses | $0 |
| Selling & Marketing | $449.0K |
| General & Administrative | $1M |
| SG&A Expenses | $2M |
| Other Expenses | $26M |
| Operating Expenses | $27M |
| Cost & Expenses | $52M |
| OPERATING INCOME | $18M |
| Interest Income | $59M |
| Interest Expense | $22M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $18M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $15M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $15M |
| D&A | $0 |
| EBIT | $18M |
| EBITDA | $18M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $15M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $14M |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | $20M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1M |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $46M |
| Common Stock Repurchased | -$717.0K |
| Common Dividends Paid | -$6M |
| Other Financing Activities | -$58M |
| NET CASH FROM FINANCING | -$18M |
| FREE CASH FLOW | $11M |
| Net Change in Cash | $12.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $20M |
| Short-Term Investments | $1.3B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | -$1.3B |
| TOTAL CURRENT ASSETS | $92M |
| PP&E (Net) | $0 |
| Goodwill | $167M |
| Intangible Assets | $18M |
| Long-Term Investments | $29M |
| Tax Assets | $0 |
| Other Non-Current Assets | $4.9B |
| TOTAL NON-CURRENT ASSETS | $5.2B |
| TOTAL ASSETS | $5.2B |
| Account Payables | $0 |
| Short-Term Debt | $281M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1M |
| TOTAL CURRENT LIABILITIES | $282M |
| Long-Term Debt | $87M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4.4B |
| TOTAL NON-CURRENT LIABILITIES | $4.5B |
| TOTAL LIABILITIES | $4.8B |
| Common Stock | $367M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $286M |
| Treasury Stock | -$23M |
| Accum. Other Comp. Income | -$144M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $486M |
| Minority Interest | $0 |
| TOTAL EQUITY | $486M |
| TOTAL LIABILITIES & EQUITY | $5.2B |
| Total Debt | $368M |
| Net Debt | $347M |
