| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $32M | $23M | $24M | 38.9% | 33.1% |
| Op. Income | $7M | $9M | $11M | -20.3% | -35.3% |
| Gross Margin | 68.7% | 85.6% | 89.2% | -16.9pp | -20.5pp |
| Net Margin | 16.1% | 27.5% | 32.6% | -11.4pp | -16.5pp |
| EPS (Diluted) | $0.73 | $1.05 | $1.31 | -30.5% | -44.3% |
| Free Cash Flow | $5M | $2M | $8M | 136.1% | -38.7% |
| Item | Amount |
|---|---|
| REVENUE | $32M |
| Cost of Revenue | $10M |
| GROSS PROFIT | $22M |
| R&D Expenses | $0 |
| Selling & Marketing | $282.0K |
| General & Administrative | $8M |
| SG&A Expenses | $8M |
| Other Expenses | $7M |
| Operating Expenses | $15M |
| Cost & Expenses | $25M |
| OPERATING INCOME | $7M |
| Interest Income | $30M |
| Interest Expense | $5M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $5M |
| D&A | $1M |
| EBIT | $7M |
| EBITDA | $8M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $32M |
| Cost of Revenue | $10M |
| GROSS PROFIT | $22M |
| R&D Expenses | $0 |
| Selling & Marketing | $282.0K |
| General & Administrative | $8M |
| SG&A Expenses | $8M |
| Other Expenses | $7M |
| Operating Expenses | $15M |
| Cost & Expenses | $25M |
| OPERATING INCOME | $7M |
| Interest Income | $30M |
| Interest Expense | $5M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $7M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $5M |
| D&A | $1M |
| EBIT | $7M |
| EBITDA | $8M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $5M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $93.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | $6M |
| Capital Expenditure | -$801.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$51M |
| Sales/Maturities of Investments | $99M |
| Other Investing Activities | $20M |
| NET CASH FROM INVESTING | $68M |
| Net Debt Issuance | -$15M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$2M |
| Other Financing Activities | -$49M |
| NET CASH FROM FINANCING | -$65M |
| FREE CASH FLOW | $5M |
| Net Change in Cash | $8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $87M |
| Short-Term Investments | $443M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $530M |
| PP&E (Net) | $49M |
| Goodwill | $24M |
| Intangible Assets | $0 |
| Long-Term Investments | $1.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $146M |
| TOTAL NON-CURRENT ASSETS | $1.7B |
| TOTAL ASSETS | $2.2B |
| Account Payables | $0 |
| Short-Term Debt | $94M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.8B |
| TOTAL CURRENT LIABILITIES | $1.9B |
| Long-Term Debt | $27M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $19M |
| TOTAL NON-CURRENT LIABILITIES | $70M |
| TOTAL LIABILITIES | $2.0B |
| Common Stock | $75M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $187M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$16M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $246M |
| Minority Interest | $0 |
| TOTAL EQUITY | $246M |
| TOTAL LIABILITIES & EQUITY | $2.2B |
| Total Debt | $145M |
| Net Debt | $58M |
