| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $299M | $305M | $301M | -1.9% | -0.9% |
| Op. Income | $213M | $235M | $235M | -9.5% | -9.4% |
| Gross Margin | 89.5% | 95.8% | 96.3% | -6.3pp | -6.7pp |
| Net Margin | 56.7% | 62.8% | 61.3% | -6.1pp | -4.6pp |
| EPS (Diluted) | $0.75 | $0.83 | $0.72 | -9.6% | 4.2% |
| Free Cash Flow | $230M | $215M | $182M | 7.0% | 26.6% |
| Item | Amount |
|---|---|
| REVENUE | $299M |
| Cost of Revenue | $31M |
| GROSS PROFIT | $267M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $55M |
| Operating Expenses | $55M |
| Cost & Expenses | $86M |
| OPERATING INCOME | $213M |
| Interest Income | $0 |
| Interest Expense | $8M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $213M |
| Income Tax Expense | $43M |
| Net Income from Continuing Ops | $169M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $169M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $169M |
| D&A | $821.0K |
| EBIT | $222M |
| EBITDA | $222M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $299M |
| Cost of Revenue | $31M |
| GROSS PROFIT | $267M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $55M |
| Operating Expenses | $55M |
| Cost & Expenses | $86M |
| OPERATING INCOME | $213M |
| Interest Income | $0 |
| Interest Expense | $8M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $213M |
| Income Tax Expense | $43M |
| Net Income from Continuing Ops | $169M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $169M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $169M |
| D&A | $821.0K |
| EBIT | $222M |
| EBITDA | $222M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $169M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $43M |
| Change in Working Capital | $18M |
| OPERATING CASH FLOW | $231M |
| Capital Expenditure | -$601.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$366M |
| Sales/Maturities of Investments | $51M |
| Other Investing Activities | $411M |
| NET CASH FROM INVESTING | $96M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$189M |
| Common Dividends Paid | -$33M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$223M |
| FREE CASH FLOW | $230M |
| Net Change in Cash | $104M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $376M |
| Short-Term Investments | $0 |
| Net Receivables | $58M |
| Inventory | $0 |
| Other Current Assets | -$58M |
| TOTAL CURRENT ASSETS | $376M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $8M |
| Long-Term Investments | $5.8B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$5.8B |
| TOTAL NON-CURRENT ASSETS | $0 |
| TOTAL ASSETS | $6.6B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $646M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $846M |
| TOTAL NON-CURRENT LIABILITIES | $1.5B |
| TOTAL LIABILITIES | $1.5B |
| Common Stock | $219M |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | $3.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$134M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $5.1B |
| TOTAL LIABILITIES & EQUITY | $6.6B |
| Total Debt | $646M |
| Net Debt | $271M |
