| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $466M | — | $439M | — | 6.1% |
| Op. Income | $126M | — | $47M | — | 165.4% |
| Gross Margin | 34.2% | — | 14.6% | — | 19.6pp |
| Net Margin | 19.6% | — | 9.3% | — | 10.3pp |
| EPS (Diluted) | $0.99 | — | $0.44 | — | 125.0% |
| Free Cash Flow | $155M | — | $128M | — | 21.5% |
| Item | Amount |
|---|---|
| REVENUE | $466M |
| Cost of Revenue | $306M |
| GROSS PROFIT | $159M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $33M |
| SG&A Expenses | $33M |
| Other Expenses | $0 |
| Operating Expenses | $33M |
| Cost & Expenses | $340M |
| OPERATING INCOME | $126M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$12M |
| INCOME BEFORE TAX | $114M |
| Income Tax Expense | $22M |
| Net Income from Continuing Ops | $91M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $91M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $91M |
| D&A | $0 |
| EBIT | $126M |
| EBITDA | $126M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $466M |
| Cost of Revenue | $306M |
| GROSS PROFIT | $159M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $33M |
| SG&A Expenses | $33M |
| Other Expenses | $0 |
| Operating Expenses | $33M |
| Cost & Expenses | $340M |
| OPERATING INCOME | $126M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$12M |
| INCOME BEFORE TAX | $114M |
| Income Tax Expense | $22M |
| Net Income from Continuing Ops | $91M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $91M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $91M |
| D&A | $0 |
| EBIT | $126M |
| EBITDA | $126M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $91M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $66M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $157M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$284M |
| Sales/Maturities of Investments | $323M |
| Other Investing Activities | $3M |
| NET CASH FROM INVESTING | $40M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$198M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$198M |
| FREE CASH FLOW | $155M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $52M |
| Short-Term Investments | $121M |
| Net Receivables | $212M |
| Inventory | $0 |
| Other Current Assets | -$212M |
| TOTAL CURRENT ASSETS | $172M |
| PP&E (Net) | $41M |
| Goodwill | $46M |
| Intangible Assets | $8M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $94M |
| TOTAL ASSETS | $6.2B |
| Account Payables | $41M |
| Short-Term Debt | $100M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$41M |
| TOTAL CURRENT LIABILITIES | $130M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $22M |
| Other Non-Current Liabilities | $4.2B |
| TOTAL NON-CURRENT LIABILITIES | $4.3B |
| TOTAL LIABILITIES | $4.4B |
| Common Stock | $1M |
| Additional Paid-In Capital | $377M |
| Retained Earnings | $1.9B |
| Treasury Stock | -$407M |
| Accum. Other Comp. Income | -$74M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.8B |
| TOTAL LIABILITIES & EQUITY | $6.2B |
| Total Debt | $100M |
| Net Debt | $48M |
