| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $159M | $140M | $150M | 13.8% | 6.3% |
| Op. Income | $41M | $31M | $30M | 32.7% | 36.0% |
| Gross Margin | 59.5% | 55.6% | 53.8% | 3.9pp | 5.7pp |
| Net Margin | 23.0% | 20.7% | 18.5% | 2.3pp | 4.5pp |
| EPS (Diluted) | $2.16 | $1.71 | $1.64 | 26.3% | 31.7% |
| Free Cash Flow | $32M | $24M | $230M | 31.0% | -86.2% |
| Item | Amount |
|---|---|
| REVENUE | $159M |
| Cost of Revenue | $65M |
| GROSS PROFIT | $95M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $36M |
| SG&A Expenses | $38M |
| Other Expenses | $16M |
| Operating Expenses | $54M |
| Cost & Expenses | $119M |
| OPERATING INCOME | $41M |
| Interest Income | $125M |
| Interest Expense | $60M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $41M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $37M |
| D&A | $3M |
| EBIT | $41M |
| EBITDA | $44M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $159M |
| Cost of Revenue | $65M |
| GROSS PROFIT | $95M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $36M |
| SG&A Expenses | $38M |
| Other Expenses | $16M |
| Operating Expenses | $54M |
| Cost & Expenses | $119M |
| OPERATING INCOME | $41M |
| Interest Income | $125M |
| Interest Expense | $60M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $41M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $37M |
| D&A | $3M |
| EBIT | $41M |
| EBITDA | $44M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $37M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $687.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | $47M |
| Capital Expenditure | -$16M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$51M |
| Sales/Maturities of Investments | $15M |
| Other Investing Activities | -$273M |
| NET CASH FROM INVESTING | -$324M |
| Net Debt Issuance | $197M |
| Common Stock Repurchased | -$9M |
| Common Dividends Paid | -$1M |
| Other Financing Activities | $62M |
| NET CASH FROM FINANCING | $249M |
| FREE CASH FLOW | $32M |
| Net Change in Cash | -$27M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $215M |
| Short-Term Investments | $63M |
| Net Receivables | $11M |
| Inventory | $0 |
| Other Current Assets | -$211M |
| TOTAL CURRENT ASSETS | $78M |
| PP&E (Net) | $0 |
| Goodwill | $139M |
| Intangible Assets | $9M |
| Long-Term Investments | $8.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$8.4B |
| TOTAL NON-CURRENT ASSETS | $148M |
| TOTAL ASSETS | $9.6B |
| Account Payables | $0 |
| Short-Term Debt | $3M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $3M |
| Long-Term Debt | $559M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $7.9B |
| TOTAL NON-CURRENT LIABILITIES | $8.5B |
| TOTAL LIABILITIES | $8.5B |
| Common Stock | $17M |
| Additional Paid-In Capital | $375M |
| Retained Earnings | $747M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$53M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $9.6B |
| Total Debt | $562M |
| Net Debt | $346M |
