| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $201M | $198M | $206M | 1.3% | -2.6% |
| Op. Income | $63M | $55M | $54M | 14.6% | 15.9% |
| Gross Margin | 76.4% | 73.9% | 69.3% | 2.6pp | 7.1pp |
| Net Margin | 30.5% | 26.9% | 25.6% | 3.5pp | 4.9pp |
| EPS (Diluted) | $1.46 | $1.25 | $1.16 | 16.8% | 25.9% |
| Free Cash Flow | $47M | $94M | $106M | -50.0% | -55.9% |
| Item | Amount |
|---|---|
| REVENUE | $201M |
| Cost of Revenue | $47M |
| GROSS PROFIT | $153M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $47M |
| SG&A Expenses | $48M |
| Other Expenses | $43M |
| Operating Expenses | $91M |
| Cost & Expenses | $138M |
| OPERATING INCOME | $63M |
| Interest Income | $139M |
| Interest Expense | $47M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $63M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $61M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $61M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $61M |
| D&A | $9M |
| EBIT | $63M |
| EBITDA | $72M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $201M |
| Cost of Revenue | $47M |
| GROSS PROFIT | $153M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $47M |
| SG&A Expenses | $48M |
| Other Expenses | $43M |
| Operating Expenses | $91M |
| Cost & Expenses | $138M |
| OPERATING INCOME | $63M |
| Interest Income | $139M |
| Interest Expense | $47M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $63M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $61M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $61M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $61M |
| D&A | $9M |
| EBIT | $63M |
| EBITDA | $72M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $61M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $514.0K |
| Change in Working Capital | -$24M |
| OPERATING CASH FLOW | $52M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$495M |
| Sales/Maturities of Investments | $546M |
| Other Investing Activities | $27M |
| NET CASH FROM INVESTING | $74M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$30M |
| Common Dividends Paid | -$20M |
| Other Financing Activities | -$28M |
| NET CASH FROM FINANCING | -$78M |
| FREE CASH FLOW | $47M |
| Net Change in Cash | $40M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.5B |
| Short-Term Investments | $3.4B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $4.9B |
| PP&E (Net) | $159M |
| Goodwill | $25M |
| Intangible Assets | $63M |
| Long-Term Investments | $7.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.4B |
| TOTAL NON-CURRENT ASSETS | $9.2B |
| TOTAL ASSETS | $14.1B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$135M |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $13.0B |
| TOTAL NON-CURRENT LIABILITIES | $13.0B |
| TOTAL LIABILITIES | $13.0B |
| Common Stock | $412.0K |
| Additional Paid-In Capital | $873M |
| Retained Earnings | $481M |
| Treasury Stock | -$27M |
| Accum. Other Comp. Income | -$221M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $14.1B |
| Total Debt | $78M |
| Net Debt | -$1.8B |
