| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $158M | $165M | $253M | -3.9% | -37.4% |
| Op. Income | $48M | $76M | $163M | -37.0% | -70.6% |
| Gross Margin | 79.6% | 82.0% | 92.1% | -2.5pp | -12.5pp |
| Net Margin | 27.2% | 41.0% | 52.7% | -13.8pp | -25.5pp |
| EPS (Diluted) | $1.20 | $1.93 | $4.09 | -37.8% | -70.7% |
| Free Cash Flow | $63M | $396M | $164M | -84.0% | -61.5% |
| Item | Amount |
|---|---|
| REVENUE | $158M |
| Cost of Revenue | $32M |
| GROSS PROFIT | $126M |
| R&D Expenses | $57M |
| Selling & Marketing | $0 |
| General & Administrative | $21M |
| SG&A Expenses | $21M |
| Other Expenses | $0 |
| Operating Expenses | $78M |
| Cost & Expenses | $110M |
| OPERATING INCOME | $48M |
| Interest Income | $12M |
| Interest Expense | $11M |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | $50M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $43M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $43M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $43M |
| D&A | $19M |
| EBIT | $61M |
| EBITDA | $80M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $158M |
| Cost of Revenue | $32M |
| GROSS PROFIT | $126M |
| R&D Expenses | $57M |
| Selling & Marketing | $0 |
| General & Administrative | $21M |
| SG&A Expenses | $21M |
| Other Expenses | $0 |
| Operating Expenses | $78M |
| Cost & Expenses | $110M |
| OPERATING INCOME | $48M |
| Interest Income | $12M |
| Interest Expense | $11M |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | $50M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $43M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $43M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $43M |
| D&A | $19M |
| EBIT | $61M |
| EBITDA | $80M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $43M |
| Depreciation & Amortization | $19M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $13M |
| Other Non-Cash Items | -$70M |
| Change in Working Capital | $58M |
| OPERATING CASH FLOW | $63M |
| Capital Expenditure | -$217.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$79M |
| Sales/Maturities of Investments | $84M |
| Other Investing Activities | -$84M |
| NET CASH FROM INVESTING | -$103M |
| Net Debt Issuance | -$199.0K |
| Common Stock Repurchased | -$36M |
| Common Dividends Paid | -$18M |
| Other Financing Activities | -$519.0K |
| NET CASH FROM FINANCING | -$54M |
| FREE CASH FLOW | $63M |
| Net Change in Cash | -$94M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $739M |
| Short-Term Investments | $504M |
| Net Receivables | $70M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.3B |
| PP&E (Net) | $342M |
| Goodwill | $24M |
| Intangible Assets | $319M |
| Long-Term Investments | $132M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$474M |
| TOTAL NON-CURRENT ASSETS | $342M |
| TOTAL ASSETS | $2.1B |
| Account Payables | $10M |
| Short-Term Debt | $462M |
| Deferred Revenue | $194M |
| Other Current Liabilities | $86M |
| TOTAL CURRENT LIABILITIES | $753M |
| Long-Term Debt | $30M |
| Deferred Revenue NC | $136M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $31M |
| TOTAL NON-CURRENT LIABILITIES | $211M |
| TOTAL LIABILITIES | $963M |
| Common Stock | $709.0K |
| Additional Paid-In Capital | $817M |
| Retained Earnings | $2.1B |
| Treasury Stock | -$1.8B |
| Accum. Other Comp. Income | $299.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $2.1B |
| Total Debt | $506M |
| Net Debt | -$233M |
