| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $158M | $173M | $171M | -8.9% | -7.5% |
| Op. Income | $17M | $23M | $27M | -25.3% | -38.4% |
| Gross Margin | 49.2% | 56.4% | 53.3% | -7.1pp | -4.1pp |
| Net Margin | 8.3% | 10.0% | 12.8% | -1.7pp | -4.5pp |
| EPS (Diluted) | $0.23 | $0.30 | $0.36 | -23.3% | -36.1% |
| Free Cash Flow | $33M | $23M | $43M | 45.0% | -23.3% |
| Item | Amount |
|---|---|
| REVENUE | $158M |
| Cost of Revenue | $80M |
| GROSS PROFIT | $78M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $5M |
| SG&A Expenses | $6M |
| Other Expenses | $55M |
| Operating Expenses | $61M |
| Cost & Expenses | $141M |
| OPERATING INCOME | $17M |
| Interest Income | $172M |
| Interest Expense | $76M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $17M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $13M |
| D&A | $0 |
| EBIT | $17M |
| EBITDA | $17M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $158M |
| Cost of Revenue | $80M |
| GROSS PROFIT | $78M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $5M |
| SG&A Expenses | $6M |
| Other Expenses | $55M |
| Operating Expenses | $61M |
| Cost & Expenses | $141M |
| OPERATING INCOME | $17M |
| Interest Income | $172M |
| Interest Expense | $76M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $17M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $13M |
| D&A | $0 |
| EBIT | $17M |
| EBITDA | $17M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $13M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $3M |
| Other Non-Cash Items | $14M |
| Change in Working Capital | $343.0K |
| OPERATING CASH FLOW | $36M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $3M |
| Purchases of Investments | -$53M |
| Sales/Maturities of Investments | $137M |
| Other Investing Activities | -$472M |
| NET CASH FROM INVESTING | -$387M |
| Net Debt Issuance | -$262M |
| Common Stock Repurchased | -$558.0K |
| Common Dividends Paid | -$11M |
| Other Financing Activities | $486M |
| NET CASH FROM FINANCING | $212M |
| FREE CASH FLOW | $33M |
| Net Change in Cash | -$139M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $135M |
| Short-Term Investments | $1.2B |
| Net Receivables | $49M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.4B |
| PP&E (Net) | $113M |
| Goodwill | $517M |
| Intangible Assets | $9M |
| Long-Term Investments | $11.9B |
| Tax Assets | $0 |
| Other Non-Current Assets | $559M |
| TOTAL NON-CURRENT ASSETS | $13.1B |
| TOTAL ASSETS | $14.6B |
| Account Payables | $0 |
| Short-Term Debt | $54M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $11.0B |
| TOTAL CURRENT LIABILITIES | $11.0B |
| Long-Term Debt | $1.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $303M |
| TOTAL NON-CURRENT LIABILITIES | $1.9B |
| TOTAL LIABILITIES | $12.9B |
| Common Stock | $625.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | $663M |
| Treasury Stock | -$116M |
| Accum. Other Comp. Income | -$2M |
| Other Equity | -$1M |
| TOTAL STOCKHOLDERS' EQUITY | $1.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.7B |
| TOTAL LIABILITIES & EQUITY | $14.6B |
| Total Debt | $1.6B |
| Net Debt | $1.5B |
