| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $170M | $165M | $155M | 2.5% | 9.6% |
| Op. Income | $39M | $19M | $13M | 104.2% | 203.7% |
| Gross Margin | 60.9% | 50.2% | 50.0% | 10.7pp | 10.9pp |
| Net Margin | 7.6% | 8.7% | 6.4% | -1.1pp | 1.2pp |
| EPS (Diluted) | $1.30 | $1.42 | $0.98 | -8.5% | 32.7% |
| Free Cash Flow | $79M | $83M | $60M | -4.9% | 31.7% |
| Item | Amount |
|---|---|
| REVENUE | $170M |
| Cost of Revenue | $66M |
| GROSS PROFIT | $103M |
| R&D Expenses | $0 |
| Selling & Marketing | $4M |
| General & Administrative | $65M |
| SG&A Expenses | $68M |
| Other Expenses | -$4M |
| Operating Expenses | $65M |
| Cost & Expenses | $131M |
| OPERATING INCOME | $39M |
| Interest Income | $153M |
| Interest Expense | $23M |
| Other Income/Expenses | -$23M |
| INCOME BEFORE TAX | $16M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $13M |
| D&A | $0 |
| EBIT | $39M |
| EBITDA | $39M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $170M |
| Cost of Revenue | $66M |
| GROSS PROFIT | $103M |
| R&D Expenses | $0 |
| Selling & Marketing | $4M |
| General & Administrative | $65M |
| SG&A Expenses | $68M |
| Other Expenses | -$4M |
| Operating Expenses | $65M |
| Cost & Expenses | $131M |
| OPERATING INCOME | $39M |
| Interest Income | $153M |
| Interest Expense | $23M |
| Other Income/Expenses | -$23M |
| INCOME BEFORE TAX | $16M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $13M |
| D&A | $0 |
| EBIT | $39M |
| EBITDA | $39M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $13M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $74M |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | $80M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$143M |
| NET CASH FROM INVESTING | -$143M |
| Net Debt Issuance | $66M |
| Common Stock Repurchased | -$8M |
| Common Dividends Paid | -$3M |
| Other Financing Activities | -$4M |
| NET CASH FROM FINANCING | $53M |
| FREE CASH FLOW | $79M |
| Net Change in Cash | -$11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $98M |
| Short-Term Investments | $0 |
| Net Receivables | $1.9B |
| Inventory | $0 |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $2.0B |
| PP&E (Net) | $57M |
| Goodwill | $0 |
| Intangible Assets | $32M |
| Long-Term Investments | $24M |
| Tax Assets | $0 |
| Other Non-Current Assets | $92M |
| TOTAL NON-CURRENT ASSETS | $205M |
| TOTAL ASSETS | $2.2B |
| Account Payables | $39M |
| Short-Term Debt | $236M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$39M |
| TOTAL CURRENT LIABILITIES | $236M |
| Long-Term Debt | $1.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $83M |
| Other Non-Current Liabilities | -$7M |
| TOTAL NON-CURRENT LIABILITIES | $1.6B |
| TOTAL LIABILITIES | $1.8B |
| Common Stock | $2M |
| Additional Paid-In Capital | $139M |
| Retained Earnings | $411M |
| Treasury Stock | -$178M |
| Accum. Other Comp. Income | -$2.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $373M |
| Minority Interest | $0 |
| TOTAL EQUITY | $373M |
| TOTAL LIABILITIES & EQUITY | $2.2B |
| Total Debt | $1.7B |
| Net Debt | $1.6B |
