| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $98M | $85M | $68M | 15.6% | 45.2% |
| Op. Income | $38M | $30M | $22M | 27.8% | 68.5% |
| Gross Margin | 60.2% | 55.6% | 57.0% | 4.5pp | 3.2pp |
| Net Margin | 25.6% | 21.9% | 22.3% | 3.7pp | 3.3pp |
| EPS (Diluted) | $3.00 | $2.23 | $1.91 | 34.5% | 57.1% |
| Free Cash Flow | $49M | -$7M | -$1M | 771.0% | 3770.5% |
| Item | Amount |
|---|---|
| REVENUE | $98M |
| Cost of Revenue | $39M |
| GROSS PROFIT | $59M |
| R&D Expenses | $0 |
| Selling & Marketing | $105.0K |
| General & Administrative | $13M |
| SG&A Expenses | $13M |
| Other Expenses | $8M |
| Operating Expenses | $21M |
| Cost & Expenses | $61M |
| OPERATING INCOME | $38M |
| Interest Income | $90M |
| Interest Expense | $36M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $38M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | $25M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $25M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $25M |
| D&A | $786.0K |
| EBIT | $38M |
| EBITDA | $39M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $98M |
| Cost of Revenue | $39M |
| GROSS PROFIT | $59M |
| R&D Expenses | $0 |
| Selling & Marketing | $105.0K |
| General & Administrative | $13M |
| SG&A Expenses | $13M |
| Other Expenses | $8M |
| Operating Expenses | $21M |
| Cost & Expenses | $61M |
| OPERATING INCOME | $38M |
| Interest Income | $90M |
| Interest Expense | $36M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $38M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | $25M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $25M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $25M |
| D&A | $786.0K |
| EBIT | $38M |
| EBITDA | $39M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $25M |
| Depreciation & Amortization | $786.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | -$4M |
| Other Non-Cash Items | $20M |
| Change in Working Capital | $5M |
| OPERATING CASH FLOW | $49M |
| Capital Expenditure | -$152.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $6M |
| Other Investing Activities | -$7M |
| NET CASH FROM INVESTING | -$598.0K |
| Net Debt Issuance | -$59M |
| Common Stock Repurchased | $4M |
| Common Dividends Paid | -$83.0K |
| Other Financing Activities | $76M |
| NET CASH FROM FINANCING | $21M |
| FREE CASH FLOW | $49M |
| Net Change in Cash | $70M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $414M |
| Short-Term Investments | $15M |
| Net Receivables | $17M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $446M |
| PP&E (Net) | $25M |
| Goodwill | $0 |
| Intangible Assets | $699.0K |
| Long-Term Investments | $3.7B |
| Tax Assets | $0 |
| Other Non-Current Assets | $92M |
| TOTAL NON-CURRENT ASSETS | $3.8B |
| TOTAL ASSETS | $4.3B |
| Account Payables | $0 |
| Short-Term Debt | $7M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $3.4B |
| TOTAL CURRENT LIABILITIES | $3.4B |
| Long-Term Debt | $313M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $70M |
| TOTAL NON-CURRENT LIABILITIES | $399M |
| TOTAL LIABILITIES | $3.8B |
| Common Stock | $9M |
| Additional Paid-In Capital | $99M |
| Retained Earnings | $387M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $494M |
| Minority Interest | $0 |
| TOTAL EQUITY | $494M |
| TOTAL LIABILITIES & EQUITY | $4.3B |
| Total Debt | $339M |
| Net Debt | -$74M |
