| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $92M | $94M | $79M | -1.7% | 17.3% |
| Op. Income | $26M | $24M | $16M | 7.9% | 61.8% |
| Gross Margin | 67.1% | 65.1% | 58.1% | 2.0pp | 9.0pp |
| Net Margin | 21.0% | 19.5% | 16.8% | 1.6pp | 4.2pp |
| EPS (Diluted) | $0.83 | $0.95 | $0.72 | -12.6% | 15.3% |
| Free Cash Flow | -$92M | $24M | -$2M | -476.9% | -4153.2% |
| Item | Amount |
|---|---|
| REVENUE | $92M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $62M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $20M |
| SG&A Expenses | $20M |
| Other Expenses | $16M |
| Operating Expenses | $36M |
| Cost & Expenses | $66M |
| OPERATING INCOME | $26M |
| Interest Income | $85M |
| Interest Expense | $30M |
| Other Income/Expenses | $839.0K |
| INCOME BEFORE TAX | $27M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $19M |
| D&A | $1M |
| EBIT | $26M |
| EBITDA | $28M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $92M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $62M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $20M |
| SG&A Expenses | $20M |
| Other Expenses | $16M |
| Operating Expenses | $36M |
| Cost & Expenses | $66M |
| OPERATING INCOME | $26M |
| Interest Income | $85M |
| Interest Expense | $30M |
| Other Income/Expenses | $839.0K |
| INCOME BEFORE TAX | $27M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $19M |
| D&A | $1M |
| EBIT | $26M |
| EBITDA | $28M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $19M |
| Depreciation & Amortization | -$5M |
| Stock-Based Compensation | $541.0K |
| Deferred Income Tax | -$9M |
| Other Non-Cash Items | -$4M |
| Change in Working Capital | $9M |
| OPERATING CASH FLOW | -$84M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $5M |
| Purchases of Investments | $345M |
| Sales/Maturities of Investments | -$9M |
| Other Investing Activities | -$352M |
| NET CASH FROM INVESTING | -$19M |
| Net Debt Issuance | -$16M |
| Common Stock Repurchased | -$246.0K |
| Common Dividends Paid | -$5M |
| Other Financing Activities | -$128M |
| NET CASH FROM FINANCING | -$149M |
| FREE CASH FLOW | -$92M |
| Net Change in Cash | -$158M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $47M |
| Short-Term Investments | $5M |
| Net Receivables | $30M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $82M |
| PP&E (Net) | $82M |
| Goodwill | $137M |
| Intangible Assets | $15M |
| Long-Term Investments | $872M |
| Tax Assets | $21M |
| Other Non-Current Assets | $4.7B |
| TOTAL NON-CURRENT ASSETS | $5.8B |
| TOTAL ASSETS | $6.1B |
| Account Payables | $5.2B |
| Short-Term Debt | $21M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $11M |
| TOTAL CURRENT LIABILITIES | $5.2B |
| Long-Term Debt | $23M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $35M |
| TOTAL NON-CURRENT LIABILITIES | $73M |
| TOTAL LIABILITIES | $5.3B |
| Common Stock | $24M |
| Additional Paid-In Capital | $589M |
| Retained Earnings | $220M |
| Treasury Stock | -$12M |
| Accum. Other Comp. Income | -$6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $814M |
| Minority Interest | $0 |
| TOTAL EQUITY | $814M |
| TOTAL LIABILITIES & EQUITY | $6.1B |
| Total Debt | $59M |
| Net Debt | $13M |
