| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $25M | $30M | $27M | -17.7% | -9.9% |
| Op. Income | $4M | $6M | $6M | -38.2% | -32.3% |
| Gross Margin | 62.8% | 65.1% | 64.5% | -2.3pp | -1.7pp |
| Net Margin | 12.6% | 17.8% | 17.7% | -5.1pp | -5.1pp |
| EPS (Diluted) | $0.38 | $0.65 | $0.60 | -41.5% | -36.7% |
| Free Cash Flow | $0 | $6M | $2M | -100.0% | -100.0% |
| Item | Amount |
|---|---|
| REVENUE | $25M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $15M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $3M |
| Operating Expenses | $12M |
| Cost & Expenses | $21M |
| OPERATING INCOME | $4M |
| Interest Income | $27M |
| Interest Expense | $10M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | $841.0K |
| Net Income from Continuing Ops | $3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3M |
| D&A | $0 |
| EBIT | $4M |
| EBITDA | $4M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $25M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $15M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $3M |
| Operating Expenses | $12M |
| Cost & Expenses | $21M |
| OPERATING INCOME | $4M |
| Interest Income | $27M |
| Interest Expense | $10M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | $841.0K |
| Net Income from Continuing Ops | $3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3M |
| D&A | $0 |
| EBIT | $4M |
| EBITDA | $4M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $3M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $0 |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | $0 |
| Net Change in Cash | -$104M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $40M |
| Short-Term Investments | $8M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | -$8M |
| TOTAL CURRENT ASSETS | $40M |
| PP&E (Net) | $0 |
| Goodwill | $36M |
| Intangible Assets | $5M |
| Long-Term Investments | $1.7B |
| Tax Assets | $0 |
| Other Non-Current Assets | $95M |
| TOTAL NON-CURRENT ASSETS | $1.9B |
| TOTAL ASSETS | $1.9B |
| Account Payables | $0 |
| Short-Term Debt | $175M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$57M |
| TOTAL CURRENT LIABILITIES | $118M |
| Long-Term Debt | $11M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.5B |
| TOTAL NON-CURRENT LIABILITIES | $1.6B |
| TOTAL LIABILITIES | $1.7B |
| Common Stock | $164M |
| Additional Paid-In Capital | $1M |
| Retained Earnings | $122M |
| Treasury Stock | -$41M |
| Accum. Other Comp. Income | -$16M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $230M |
| Minority Interest | $0 |
| TOTAL EQUITY | $230M |
| TOTAL LIABILITIES & EQUITY | $1.9B |
| Total Debt | $186M |
| Net Debt | $147M |
