| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $129M | $131M | $127M | -1.0% | 1.6% |
| Op. Income | $49M | $51M | $43M | -3.1% | 16.0% |
| Gross Margin | 54.4% | 55.5% | 53.9% | -1.1pp | 0.5pp |
| Net Margin | 26.9% | 27.5% | 23.7% | -0.6pp | 3.2pp |
| EPS (Diluted) | $2.79 | $2.84 | $2.25 | -1.8% | 24.0% |
| Free Cash Flow | $86M | $11M | $40M | 697.8% | 116.5% |
| Item | Amount |
|---|---|
| REVENUE | $129M |
| Cost of Revenue | $59M |
| GROSS PROFIT | $70M |
| R&D Expenses | $0 |
| Selling & Marketing | $163.0K |
| General & Administrative | $16M |
| SG&A Expenses | $16M |
| Other Expenses | $5M |
| Operating Expenses | $21M |
| Cost & Expenses | $80M |
| OPERATING INCOME | $49M |
| Interest Income | $125M |
| Interest Expense | $55M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $49M |
| Income Tax Expense | $15M |
| Net Income from Continuing Ops | $35M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $35M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $35M |
| D&A | $0 |
| EBIT | $49M |
| EBITDA | $49M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $129M |
| Cost of Revenue | $59M |
| GROSS PROFIT | $70M |
| R&D Expenses | $0 |
| Selling & Marketing | $163.0K |
| General & Administrative | $16M |
| SG&A Expenses | $16M |
| Other Expenses | $5M |
| Operating Expenses | $21M |
| Cost & Expenses | $80M |
| OPERATING INCOME | $49M |
| Interest Income | $125M |
| Interest Expense | $55M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $49M |
| Income Tax Expense | $15M |
| Net Income from Continuing Ops | $35M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $35M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $35M |
| D&A | $0 |
| EBIT | $49M |
| EBITDA | $49M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $35M |
| Depreciation & Amortization | $387.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $5M |
| Change in Working Capital | $44M |
| OPERATING CASH FLOW | $87M |
| Capital Expenditure | -$681.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$8M |
| Sales/Maturities of Investments | $14M |
| Other Investing Activities | -$171M |
| NET CASH FROM INVESTING | -$166M |
| Net Debt Issuance | -$200M |
| Common Stock Repurchased | -$16M |
| Common Dividends Paid | -$9M |
| Other Financing Activities | $316M |
| NET CASH FROM FINANCING | $90M |
| FREE CASH FLOW | $86M |
| Net Change in Cash | $12M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $807M |
| Short-Term Investments | $0 |
| Net Receivables | $34M |
| Inventory | $0 |
| Other Current Assets | $20M |
| TOTAL CURRENT ASSETS | $861M |
| PP&E (Net) | $39M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $6.6B |
| Tax Assets | $0 |
| Other Non-Current Assets | $62M |
| TOTAL NON-CURRENT ASSETS | $6.7B |
| TOTAL ASSETS | $7.6B |
| Account Payables | $17M |
| Short-Term Debt | $6M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$33M |
| TOTAL CURRENT LIABILITIES | $6M |
| Long-Term Debt | $349M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $6.4B |
| TOTAL NON-CURRENT LIABILITIES | $6.8B |
| TOTAL LIABILITIES | $6.8B |
| Common Stock | $211M |
| Additional Paid-In Capital | $105M |
| Retained Earnings | $781M |
| Treasury Stock | -$293M |
| Accum. Other Comp. Income | -$14M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $789M |
| Minority Interest | $0 |
| TOTAL EQUITY | $789M |
| TOTAL LIABILITIES & EQUITY | $7.6B |
| Total Debt | $384M |
| Net Debt | -$423M |
