| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $439M | $499M | $535M | -12.2% | -18.0% |
| Op. Income | $44M | $70M | $82M | -36.3% | -46.0% |
| Gross Margin | 71.1% | 34.9% | 34.8% | 36.2pp | 36.2pp |
| Net Margin | 7.0% | 15.3% | 9.9% | -8.2pp | -2.9pp |
| EPS (Diluted) | $0.17 | $0.43 | $0.30 | -59.6% | -42.7% |
| Item | Amount |
|---|---|
| REVENUE | $439M |
| Cost of Revenue | $127M |
| GROSS PROFIT | $312M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $267M |
| Operating Expenses | $267M |
| Cost & Expenses | $394M |
| OPERATING INCOME | $44M |
| Interest Income | $72M |
| Interest Expense | $6M |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | $38M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$1 |
| NET INCOME | $31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $0 |
| EBIT | $44M |
| EBITDA | $44M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $439M |
| Cost of Revenue | $127M |
| GROSS PROFIT | $312M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $267M |
| Operating Expenses | $267M |
| Cost & Expenses | $394M |
| OPERATING INCOME | $44M |
| Interest Income | $72M |
| Interest Expense | $6M |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | $38M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$1 |
| NET INCOME | $31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $0 |
| EBIT | $44M |
| EBITDA | $44M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $566M |
| Short-Term Investments | $11M |
| Net Receivables | $1.4B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $2.0B |
| PP&E (Net) | $131M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $49M |
| Tax Assets | $258M |
| Other Non-Current Assets | $941M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $3.4B |
| Account Payables | $0 |
| Short-Term Debt | $489M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $489M |
| Long-Term Debt | $207M |
| Deferred Revenue NC | $191M |
| Deferred Tax Liabilities | $15M |
| Other Non-Current Liabilities | $736M |
| TOTAL NON-CURRENT LIABILITIES | $1.1B |
| TOTAL LIABILITIES | $1.6B |
| Common Stock | $36.6K |
| Additional Paid-In Capital | $497M |
| Retained Earnings | $1.1B |
| Treasury Stock | -$72M |
| Accum. Other Comp. Income | $180M |
| Other Equity | $2 |
| TOTAL STOCKHOLDERS' EQUITY | $1.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.7B |
| TOTAL LIABILITIES & EQUITY | $3.4B |
| Total Debt | $696M |
| Net Debt | $130M |
