| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $237M | — | $237M | — | -0.0% |
| Op. Income | $387M | — | $126M | — | 206.5% |
| Gross Margin | 87.2% | — | 82.8% | — | 4.4pp |
| Net Margin | 29.6% | — | 28.9% | — | 0.7pp |
| EPS (Diluted) | $1.45 | — | $1.41 | — | 2.6% |
| Free Cash Flow | $102M | — | $102M | — | 0.1% |
| Item | Amount |
|---|---|
| REVENUE | $237M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $206M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $28M |
| SG&A Expenses | $28M |
| Other Expenses | -$209M |
| Operating Expenses | -$180M |
| Cost & Expenses | -$150M |
| OPERATING INCOME | $387M |
| Interest Income | $4M |
| Interest Expense | $20M |
| Other Income/Expenses | -$281M |
| INCOME BEFORE TAX | $106M |
| Income Tax Expense | $36M |
| Net Income from Continuing Ops | $70M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $70M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $70M |
| D&A | $13M |
| EBIT | $117M |
| EBITDA | $130M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $237M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $206M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $28M |
| SG&A Expenses | $28M |
| Other Expenses | -$209M |
| Operating Expenses | -$180M |
| Cost & Expenses | -$150M |
| OPERATING INCOME | $387M |
| Interest Income | $4M |
| Interest Expense | $20M |
| Other Income/Expenses | -$281M |
| INCOME BEFORE TAX | $106M |
| Income Tax Expense | $36M |
| Net Income from Continuing Ops | $70M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $70M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $70M |
| D&A | $13M |
| EBIT | $117M |
| EBITDA | $130M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $70M |
| Depreciation & Amortization | $13M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $37M |
| Change in Working Capital | -$14M |
| OPERATING CASH FLOW | $106M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$34M |
| NET CASH FROM INVESTING | -$38M |
| Net Debt Issuance | -$53M |
| Common Stock Repurchased | -$141.5K |
| Common Dividends Paid | -$128M |
| Other Financing Activities | $36M |
| NET CASH FROM FINANCING | -$146M |
| FREE CASH FLOW | $102M |
| Net Change in Cash | -$77M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $178M |
| Short-Term Investments | $0 |
| Net Receivables | $118M |
| Inventory | $0 |
| Other Current Assets | $64M |
| TOTAL CURRENT ASSETS | $360M |
| PP&E (Net) | $181M |
| Goodwill | $0 |
| Intangible Assets | $1.2B |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $67M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $1.8B |
| Account Payables | $72M |
| Short-Term Debt | $94M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $69M |
| TOTAL CURRENT LIABILITIES | $272M |
| Long-Term Debt | $678M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $166M |
| TOTAL NON-CURRENT LIABILITIES | $850M |
| TOTAL LIABILITIES | $1.1B |
| Common Stock | $17M |
| Additional Paid-In Capital | $2M |
| Retained Earnings | $629M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$273.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $647M |
| Minority Interest | $10M |
| TOTAL EQUITY | $657M |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $781M |
| Net Debt | $603M |
