| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $180M | $179M | $167M | 1.0% | 8.4% |
| Op. Income | $121M | $124M | $111M | -2.0% | 9.3% |
| Gross Margin | 88.3% | 89.5% | 89.5% | -1.3pp | -1.3pp |
| Net Margin | 52.2% | 53.7% | 51.8% | -1.5pp | 0.5pp |
| EPS (Diluted) | $1.20 | $1.22 | $1.07 | -1.6% | 12.1% |
| Free Cash Flow | $60M | $126M | $34M | -52.4% | 74.6% |
| Item | Amount |
|---|---|
| REVENUE | $180M |
| Cost of Revenue | $21M |
| GROSS PROFIT | $159M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $38M |
| Operating Expenses | $38M |
| Cost & Expenses | $59M |
| OPERATING INCOME | $121M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $121M |
| Income Tax Expense | $27M |
| Net Income from Continuing Ops | $94M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $94M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $94M |
| D&A | $0 |
| EBIT | $128M |
| EBITDA | $128M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $180M |
| Cost of Revenue | $21M |
| GROSS PROFIT | $159M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $38M |
| Operating Expenses | $38M |
| Cost & Expenses | $59M |
| OPERATING INCOME | $121M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $121M |
| Income Tax Expense | $27M |
| Net Income from Continuing Ops | $94M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $94M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $94M |
| D&A | $0 |
| EBIT | $128M |
| EBITDA | $128M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $94M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $14M |
| Other Non-Cash Items | -$925.0K |
| Change in Working Capital | -$54M |
| OPERATING CASH FLOW | $62M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$352M |
| Sales/Maturities of Investments | $236M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$118M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$31M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$31M |
| FREE CASH FLOW | $60M |
| Net Change in Cash | -$87M |
