| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $269M | $225M | $240M | 19.9% | 12.2% |
| Op. Income | $46M | $10M | $32M | 378.1% | 44.6% |
| Gross Margin | 86.6% | 85.8% | 85.0% | 0.7pp | 1.6pp |
| Net Margin | 50.6% | 4.4% | 14.7% | 46.2pp | 35.9pp |
| EPS (Diluted) | $4.66 | $0.34 | $1.15 | 1270.6% | 305.2% |
| Free Cash Flow | $42M | $58M | $62M | -28.0% | -32.7% |
| Item | Amount |
|---|---|
| REVENUE | $269M |
| Cost of Revenue | $36M |
| GROSS PROFIT | $233M |
| R&D Expenses | $25M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $162M |
| Other Expenses | $0 |
| Operating Expenses | $187M |
| Cost & Expenses | $223M |
| OPERATING INCOME | $46M |
| Interest Income | $4M |
| Interest Expense | $122.0K |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | $50M |
| Income Tax Expense | -$86M |
| Net Income from Continuing Ops | $136M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $136M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $136M |
| D&A | $4M |
| EBIT | $46M |
| EBITDA | $50M |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| REVENUE | $269M |
| Cost of Revenue | $36M |
| GROSS PROFIT | $233M |
| R&D Expenses | $25M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $162M |
| Other Expenses | $0 |
| Operating Expenses | $187M |
| Cost & Expenses | $223M |
| OPERATING INCOME | $46M |
| Interest Income | $4M |
| Interest Expense | $122.0K |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | $50M |
| Income Tax Expense | -$86M |
| Net Income from Continuing Ops | $136M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $136M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $136M |
| D&A | $4M |
| EBIT | $46M |
| EBITDA | $50M |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| Net Income | $136M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $28M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$89M |
| Change in Working Capital | -$27M |
| OPERATING CASH FLOW | $52M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$63M |
| Sales/Maturities of Investments | $62M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$12M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$50M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$694.0K |
| NET CASH FROM FINANCING | -$48M |
| FREE CASH FLOW | $42M |
| Net Change in Cash | -$8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $105M |
| Short-Term Investments | $203M |
| Net Receivables | $120M |
| Inventory | $145M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $584M |
| PP&E (Net) | $121M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $96M |
| Tax Assets | $100M |
| Other Non-Current Assets | $17M |
| TOTAL NON-CURRENT ASSETS | $335M |
| TOTAL ASSETS | $918M |
| Account Payables | $37M |
| Short-Term Debt | $2M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $8M |
| TOTAL CURRENT LIABILITIES | $96M |
| Long-Term Debt | $30M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $11M |
| Other Non-Current Liabilities | -$30M |
| TOTAL NON-CURRENT LIABILITIES | $41M |
| TOTAL LIABILITIES | $137M |
| Common Stock | $29.0K |
| Additional Paid-In Capital | $927M |
| Retained Earnings | -$146M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $464.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $781M |
| Minority Interest | $0 |
| TOTAL EQUITY | $781M |
| TOTAL LIABILITIES & EQUITY | $918M |
| Total Debt | $62M |
| Net Debt | -$43M |
