| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $139M | $144M | $132M | -3.1% | 5.2% |
| Op. Income | $50M | $52M | $43M | -3.2% | 16.2% |
| Gross Margin | 71.2% | 70.8% | 68.1% | 0.4pp | 3.2pp |
| Net Margin | 28.9% | 29.0% | 26.0% | -0.1pp | 2.9pp |
| EPS (Diluted) | $2.65 | $2.72 | $2.19 | -2.6% | 21.0% |
| Free Cash Flow | $24M | $46M | $28M | -47.9% | -14.9% |
| Item | Amount |
|---|---|
| REVENUE | $139M |
| Cost of Revenue | $40M |
| GROSS PROFIT | $99M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $39M |
| SG&A Expenses | $39M |
| Other Expenses | $10M |
| Operating Expenses | $49M |
| Cost & Expenses | $89M |
| OPERATING INCOME | $50M |
| Interest Income | $120M |
| Interest Expense | $39M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $50M |
| Income Tax Expense | $10M |
| Net Income from Continuing Ops | $40M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $40M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $40M |
| D&A | $0 |
| EBIT | $50M |
| EBITDA | $50M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $139M |
| Cost of Revenue | $40M |
| GROSS PROFIT | $99M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $39M |
| SG&A Expenses | $39M |
| Other Expenses | $10M |
| Operating Expenses | $49M |
| Cost & Expenses | $89M |
| OPERATING INCOME | $50M |
| Interest Income | $120M |
| Interest Expense | $39M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $50M |
| Income Tax Expense | $10M |
| Net Income from Continuing Ops | $40M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $40M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $40M |
| D&A | $0 |
| EBIT | $50M |
| EBITDA | $50M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $40M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$10M |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | $27M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$30M |
| Sales/Maturities of Investments | $37M |
| Other Investing Activities | $41M |
| NET CASH FROM INVESTING | $45M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$1M |
| Common Dividends Paid | -$5M |
| Other Financing Activities | $119M |
| NET CASH FROM FINANCING | $114M |
| FREE CASH FLOW | $24M |
| Net Change in Cash | $186M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $660M |
| Short-Term Investments | $524M |
| Net Receivables | $6.8B |
| Inventory | $0 |
| Other Current Assets | -$510M |
| TOTAL CURRENT ASSETS | $7.4B |
| PP&E (Net) | $120M |
| Goodwill | $367M |
| Intangible Assets | $15M |
| Long-Term Investments | $7.1B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$5.9B |
| TOTAL NON-CURRENT ASSETS | $1.7B |
| TOTAL ASSETS | $9.2B |
| Account Payables | $7.7B |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$7.8B |
| TOTAL CURRENT LIABILITIES | $1M |
| Long-Term Debt | $135M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $7.8B |
| TOTAL NON-CURRENT LIABILITIES | $7.9B |
| TOTAL LIABILITIES | $7.9B |
| Common Stock | $148.0K |
| Additional Paid-In Capital | $583M |
| Retained Earnings | $698M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$24M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.3B |
| TOTAL LIABILITIES & EQUITY | $9.2B |
| Total Debt | $135M |
| Net Debt | -$525M |
