| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $62M | $52M | $33M | 20.1% | 87.0% |
| Op. Income | $25M | $22M | $23M | 15.0% | 10.6% |
| Gross Margin | 64.0% | 62.7% | 73.0% | 1.3pp | -9.1pp |
| Net Margin | 45.6% | 41.3% | 67.7% | 4.4pp | -22.1pp |
| EPS (Diluted) | $0.35 | $0.29 | $0.38 | 20.7% | -7.9% |
| Free Cash Flow | -$233M | -$292M | -$182M | 20.2% | -27.9% |
| Item | Amount |
|---|---|
| REVENUE | $62M |
| Cost of Revenue | $22M |
| GROSS PROFIT | $40M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $1M |
| SG&A Expenses | $1M |
| Other Expenses | $13M |
| Operating Expenses | $15M |
| Cost & Expenses | $37M |
| OPERATING INCOME | $25M |
| Interest Income | $60M |
| Interest Expense | $22M |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | $28M |
| Income Tax Expense | -$334.0K |
| Net Income from Continuing Ops | $28M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $28M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $28M |
| D&A | $362.0K |
| EBIT | $44M |
| EBITDA | $45M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $62M |
| Cost of Revenue | $22M |
| GROSS PROFIT | $40M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $1M |
| SG&A Expenses | $1M |
| Other Expenses | $13M |
| Operating Expenses | $15M |
| Cost & Expenses | $37M |
| OPERATING INCOME | $25M |
| Interest Income | $60M |
| Interest Expense | $22M |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | $28M |
| Income Tax Expense | -$334.0K |
| Net Income from Continuing Ops | $28M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $28M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $28M |
| D&A | $362.0K |
| EBIT | $44M |
| EBITDA | $45M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $28M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$210M |
| Change in Working Capital | -$51M |
| OPERATING CASH FLOW | -$233M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$607M |
| Sales/Maturities of Investments | $401M |
| Other Investing Activities | $206M |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $165M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$24M |
| Other Financing Activities | -$496.0K |
| NET CASH FROM FINANCING | $223M |
| FREE CASH FLOW | -$233M |
| Net Change in Cash | -$10M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $102M |
| Short-Term Investments | $0 |
| Net Receivables | $43M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $150M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $2.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $2.2B |
| TOTAL ASSETS | $2.3B |
| Account Payables | $25M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $25M |
| Long-Term Debt | $1.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $14M |
| TOTAL NON-CURRENT LIABILITIES | $1.4B |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $85.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$96M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $963M |
| Minority Interest | $0 |
| TOTAL EQUITY | $963M |
| TOTAL LIABILITIES & EQUITY | $2.3B |
| Total Debt | $1.3B |
| Net Debt | $1.2B |
