| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $238M | $239M | $199M | -0.2% | 19.4% |
| Op. Income | $70M | $72M | $46M | -3.0% | 53.0% |
| Gross Margin | 76.1% | 76.6% | 73.0% | -0.5pp | 3.1pp |
| Net Margin | 23.3% | 22.8% | 18.0% | 0.5pp | 5.2pp |
| EPS (Diluted) | $1.06 | $1.03 | $0.76 | 2.9% | 39.5% |
| Free Cash Flow | $62M | $74M | $46M | -16.5% | 36.4% |
| Item | Amount |
|---|---|
| REVENUE | $238M |
| Cost of Revenue | $57M |
| GROSS PROFIT | $181M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | -$22M |
| SG&A Expenses | -$21M |
| Other Expenses | $132M |
| Operating Expenses | $112M |
| Cost & Expenses | $169M |
| OPERATING INCOME | $70M |
| Interest Income | $189M |
| Interest Expense | $53M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $70M |
| Income Tax Expense | $14M |
| Net Income from Continuing Ops | $56M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $56M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $56M |
| D&A | $3M |
| EBIT | $70M |
| EBITDA | $72M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $238M |
| Cost of Revenue | $57M |
| GROSS PROFIT | $181M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | -$22M |
| SG&A Expenses | -$21M |
| Other Expenses | $132M |
| Operating Expenses | $112M |
| Cost & Expenses | $169M |
| OPERATING INCOME | $70M |
| Interest Income | $189M |
| Interest Expense | $53M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $70M |
| Income Tax Expense | $14M |
| Net Income from Continuing Ops | $56M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $56M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $56M |
| D&A | $3M |
| EBIT | $70M |
| EBITDA | $72M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $56M |
| Depreciation & Amortization | -$16M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $28M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | $66M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | -$2M |
| Purchases of Investments | -$158M |
| Sales/Maturities of Investments | $61M |
| Other Investing Activities | $67M |
| NET CASH FROM INVESTING | -$36M |
| Net Debt Issuance | $8M |
| Common Stock Repurchased | -$10M |
| Common Dividends Paid | -$19M |
| Other Financing Activities | -$162M |
| NET CASH FROM FINANCING | -$183M |
| FREE CASH FLOW | $62M |
| Net Change in Cash | -$153M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $185M |
| Short-Term Investments | $0 |
| Net Receivables | $52M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $237M |
| PP&E (Net) | $99M |
| Goodwill | $453M |
| Intangible Assets | $58M |
| Long-Term Investments | $14.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $585M |
| TOTAL NON-CURRENT ASSETS | $15.8B |
| TOTAL ASSETS | $16.0B |
| Account Payables | $0 |
| Short-Term Debt | $148M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $148M |
| Long-Term Debt | $43M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $13.9B |
| TOTAL NON-CURRENT LIABILITIES | $14.0B |
| TOTAL LIABILITIES | $14.1B |
| Common Stock | $591.0K |
| Additional Paid-In Capital | $965M |
| Retained Earnings | $1.2B |
| Treasury Stock | -$183M |
| Accum. Other Comp. Income | -$83M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.9B |
| TOTAL LIABILITIES & EQUITY | $16.0B |
| Total Debt | $191M |
| Net Debt | $6M |
