| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $93M | $96M | $93M | -2.8% | 0.7% |
| Op. Income | $25M | $27M | $23M | -10.2% | 6.1% |
| Gross Margin | 65.8% | 64.8% | 61.6% | 1.0pp | 4.2pp |
| Net Margin | 24.5% | 24.7% | 21.2% | -0.3pp | 3.3pp |
| EPS (Diluted) | $1.40 | $1.46 | $1.22 | -4.1% | 14.8% |
| Free Cash Flow | $5M | $20M | $59M | -73.5% | -90.9% |
| Item | Amount |
|---|---|
| REVENUE | $93M |
| Cost of Revenue | $32M |
| GROSS PROFIT | $61M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $22M |
| SG&A Expenses | $22M |
| Other Expenses | $15M |
| Operating Expenses | $37M |
| Cost & Expenses | $69M |
| OPERATING INCOME | $25M |
| Interest Income | $82M |
| Interest Expense | $31M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $25M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $23M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $23M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $23M |
| D&A | $0 |
| EBIT | $25M |
| EBITDA | $25M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $93M |
| Cost of Revenue | $32M |
| GROSS PROFIT | $61M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $22M |
| SG&A Expenses | $22M |
| Other Expenses | $15M |
| Operating Expenses | $37M |
| Cost & Expenses | $69M |
| OPERATING INCOME | $25M |
| Interest Income | $82M |
| Interest Expense | $31M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $25M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $23M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $23M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $23M |
| D&A | $0 |
| EBIT | $25M |
| EBITDA | $25M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $23M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$20M |
| OPERATING CASH FLOW | $6M |
| Capital Expenditure | -$227.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $8M |
| NET CASH FROM INVESTING | $8M |
| Net Debt Issuance | $10M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$6M |
| Other Financing Activities | -$21M |
| NET CASH FROM FINANCING | -$17M |
| FREE CASH FLOW | $5M |
| Net Change in Cash | -$4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $473M |
| Short-Term Investments | $1.1B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.6B |
| PP&E (Net) | $62M |
| Goodwill | $73M |
| Intangible Assets | $20M |
| Long-Term Investments | $4.8B |
| Tax Assets | $0 |
| Other Non-Current Assets | $340M |
| TOTAL NON-CURRENT ASSETS | $5.3B |
| TOTAL ASSETS | $6.8B |
| Account Payables | $0 |
| Short-Term Debt | $232M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $5.3B |
| TOTAL CURRENT LIABILITIES | $5.5B |
| Long-Term Debt | $594M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $594M |
| TOTAL LIABILITIES | $6.1B |
| Common Stock | $349M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $399M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$24M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $725M |
| Minority Interest | $0 |
| TOTAL EQUITY | $725M |
| TOTAL LIABILITIES & EQUITY | $6.8B |
| Total Debt | $826M |
| Net Debt | $353M |
