| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $64M | $54M | $53M | 19.2% | 21.2% |
| Op. Income | $23M | $13M | $8M | 79.9% | 194.5% |
| Gross Margin | 47.5% | 37.7% | 28.5% | 9.8pp | 19.0pp |
| Net Margin | 26.8% | 17.4% | 11.0% | 9.4pp | 15.8pp |
| EPS (Diluted) | $7.85 | $4.28 | $2.66 | 83.4% | 195.1% |
| Free Cash Flow | $11M | $5M | $4M | 106.2% | 208.1% |
| Item | Amount |
|---|---|
| REVENUE | $64M |
| Cost of Revenue | $34M |
| GROSS PROFIT | $31M |
| R&D Expenses | $0 |
| Selling & Marketing | $109.0K |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | $1M |
| Operating Expenses | $8M |
| Cost & Expenses | $41M |
| OPERATING INCOME | $23M |
| Interest Income | $53M |
| Interest Expense | $34M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $23M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | $17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $17M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $17M |
| D&A | $190.0K |
| EBIT | $23M |
| EBITDA | $23M |
| EPS | $8 |
| EPS Diluted | $8 |
| Item | Amount |
|---|---|
| REVENUE | $64M |
| Cost of Revenue | $34M |
| GROSS PROFIT | $31M |
| R&D Expenses | $0 |
| Selling & Marketing | $109.0K |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | $1M |
| Operating Expenses | $8M |
| Cost & Expenses | $41M |
| OPERATING INCOME | $23M |
| Interest Income | $53M |
| Interest Expense | $34M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $23M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | $17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $17M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $17M |
| D&A | $190.0K |
| EBIT | $23M |
| EBITDA | $23M |
| EPS | $8 |
| EPS Diluted | $8 |
| Item | Amount |
|---|---|
| Net Income | $17M |
| Depreciation & Amortization | $190.0K |
| Stock-Based Compensation | $44.0K |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | -$11M |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | $11M |
| Capital Expenditure | -$15.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$151.0K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $19M |
| NET CASH FROM INVESTING | $19M |
| Net Debt Issuance | -$46M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$1M |
| Other Financing Activities | $16M |
| NET CASH FROM FINANCING | -$31M |
| FREE CASH FLOW | $11M |
| Net Change in Cash | -$589.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $360M |
| Short-Term Investments | $0 |
| Net Receivables | $9M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $369M |
| PP&E (Net) | $16M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $4.1B |
| Tax Assets | $0 |
| Other Non-Current Assets | $92M |
| TOTAL NON-CURRENT ASSETS | $4.2B |
| TOTAL ASSETS | $4.5B |
| Account Payables | $15M |
| Short-Term Debt | $69.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.5B |
| TOTAL CURRENT LIABILITIES | $2.5B |
| Long-Term Debt | $1.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $7M |
| Other Non-Current Liabilities | $26M |
| TOTAL NON-CURRENT LIABILITIES | $1.6B |
| TOTAL LIABILITIES | $4.1B |
| Common Stock | $2M |
| Additional Paid-In Capital | $16M |
| Retained Earnings | $444M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$12.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $462M |
| Minority Interest | $0 |
| TOTAL EQUITY | $462M |
| TOTAL LIABILITIES & EQUITY | $4.5B |
| Total Debt | $1.5B |
| Net Debt | $1.2B |
