| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $50M | $44M | $45M | 13.3% | 10.1% |
| Op. Income | $4M | $3M | $3M | 19.5% | 48.4% |
| Gross Margin | 48.5% | 51.2% | 48.9% | -2.7pp | -0.5pp |
| Net Margin | 6.4% | 5.7% | 4.7% | 0.7pp | 1.7pp |
| EPS (Diluted) | $0.32 | $0.26 | $0.22 | 23.1% | 45.5% |
| Free Cash Flow | $9M | -$10M | $17M | 192.7% | -48.6% |
| Item | Amount |
|---|---|
| REVENUE | $50M |
| Cost of Revenue | $26M |
| GROSS PROFIT | $24M |
| R&D Expenses | $0 |
| Selling & Marketing | $351.0K |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $8M |
| Operating Expenses | $20M |
| Cost & Expenses | $46M |
| OPERATING INCOME | $4M |
| Interest Income | $43M |
| Interest Expense | $23M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | $779.0K |
| 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 | $645.0K |
| EBIT | $4M |
| EBITDA | $5M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $50M |
| Cost of Revenue | $26M |
| GROSS PROFIT | $24M |
| R&D Expenses | $0 |
| Selling & Marketing | $351.0K |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $8M |
| Operating Expenses | $20M |
| Cost & Expenses | $46M |
| OPERATING INCOME | $4M |
| Interest Income | $43M |
| Interest Expense | $23M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | $779.0K |
| 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 | $645.0K |
| EBIT | $4M |
| EBITDA | $5M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $3M |
| Depreciation & Amortization | $645.0K |
| Stock-Based Compensation | $690.0K |
| Deferred Income Tax | -$79.0K |
| Other Non-Cash Items | $4M |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | $10M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$51M |
| Sales/Maturities of Investments | $8M |
| Other Investing Activities | -$51M |
| NET CASH FROM INVESTING | -$95M |
| Net Debt Issuance | -$113M |
| Common Stock Repurchased | -$301.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $320M |
| NET CASH FROM FINANCING | $207M |
| FREE CASH FLOW | $9M |
| Net Change in Cash | $123M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $356M |
| Short-Term Investments | $0 |
| Net Receivables | $20M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $376M |
| PP&E (Net) | $25M |
| Goodwill | $30M |
| Intangible Assets | $1M |
| Long-Term Investments | $2.7B |
| Tax Assets | $4M |
| Other Non-Current Assets | $59M |
| TOTAL NON-CURRENT ASSETS | $2.9B |
| TOTAL ASSETS | $3.2B |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.8B |
| TOTAL CURRENT LIABILITIES | $2.9B |
| Long-Term Debt | $96M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $33M |
| TOTAL NON-CURRENT LIABILITIES | $128M |
| TOTAL LIABILITIES | $3.0B |
| Common Stock | $0 |
| Additional Paid-In Capital | $194M |
| Retained Earnings | $69M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $261M |
| Minority Interest | $0 |
| TOTAL EQUITY | $261M |
| TOTAL LIABILITIES & EQUITY | $3.2B |
| Total Debt | $96M |
| Net Debt | -$260M |
