| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $155M | $151M | — | 2.6% | — |
| Op. Income | $244M | $70M | — | 248.1% | — |
| Gross Margin | 50.5% | 66.6% | — | -16.1pp | — |
| Net Margin | 24.4% | 25.4% | — | -1.1pp | — |
| EPS (Diluted) | $0.65 | $0.66 | — | -1.5% | — |
| Free Cash Flow | -$193M | $63M | — | -406.0% | — |
| Item | Amount |
|---|---|
| REVENUE | $155M |
| Cost of Revenue | $77M |
| GROSS PROFIT | $78M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $40M |
| SG&A Expenses | $40M |
| Other Expenses | -$206M |
| Operating Expenses | -$166M |
| Cost & Expenses | -$89M |
| OPERATING INCOME | $244M |
| Interest Income | $144M |
| Interest Expense | $29M |
| Other Income/Expenses | -$200M |
| INCOME BEFORE TAX | $44M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | $38M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $38M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $38M |
| D&A | $1M |
| EBIT | $73M |
| EBITDA | $74M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $155M |
| Cost of Revenue | $77M |
| GROSS PROFIT | $78M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $40M |
| SG&A Expenses | $40M |
| Other Expenses | -$206M |
| Operating Expenses | -$166M |
| Cost & Expenses | -$89M |
| OPERATING INCOME | $244M |
| Interest Income | $144M |
| Interest Expense | $29M |
| Other Income/Expenses | -$200M |
| INCOME BEFORE TAX | $44M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | $38M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $38M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $38M |
| D&A | $1M |
| EBIT | $73M |
| EBITDA | $74M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | -$150M |
| Depreciation & Amortization | -$4M |
| Stock-Based Compensation | -$5.4K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$31M |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | -$193M |
| Capital Expenditure | $645.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $121M |
| NET CASH FROM INVESTING | $121M |
| Net Debt Issuance | $13M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $48M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $59M |
| FREE CASH FLOW | -$193M |
| Net Change in Cash | -$46M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $48M |
| Short-Term Investments | $0 |
| Net Receivables | $2.0B |
| Inventory | $0 |
| Other Current Assets | -$1.9B |
| TOTAL CURRENT ASSETS | $60M |
| PP&E (Net) | $5M |
| Goodwill | $58M |
| Intangible Assets | $7M |
| Long-Term Investments | $1.9B |
| Tax Assets | $0 |
| Other Non-Current Assets | $13M |
| TOTAL NON-CURRENT ASSETS | $2.0B |
| TOTAL ASSETS | $2.1B |
| Account Payables | $95M |
| Short-Term Debt | $300M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$96M |
| TOTAL CURRENT LIABILITIES | $300M |
| Long-Term Debt | $1.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $102M |
| Other Non-Current Liabilities | -$204M |
| TOTAL NON-CURRENT LIABILITIES | $1.3B |
| TOTAL LIABILITIES | $1.6B |
| Common Stock | $6.0K |
| Additional Paid-In Capital | -$50M |
| Retained Earnings | $523M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $476M |
| Minority Interest | $0 |
| TOTAL EQUITY | $476M |
| TOTAL LIABILITIES & EQUITY | $2.1B |
| Total Debt | $1.7B |
| Net Debt | $1.7B |
