| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $190M | $179M | $161M | 6.6% | 18.1% |
| Op. Income | $71M | $63M | $58M | 12.0% | 22.4% |
| Gross Margin | 78.9% | 74.4% | 78.5% | 4.4pp | 0.4pp |
| Net Margin | 33.6% | 27.1% | 38.6% | 6.5pp | -5.1pp |
| EPS (Diluted) | $0.58 | $0.44 | $0.57 | 31.8% | 1.8% |
| Free Cash Flow | $93M | $82M | $52M | 13.1% | 77.7% |
| Item | Amount |
|---|---|
| REVENUE | $190M |
| Cost of Revenue | $40M |
| GROSS PROFIT | $150M |
| R&D Expenses | $49M |
| Selling & Marketing | $0 |
| General & Administrative | $30M |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $79M |
| Cost & Expenses | $119M |
| OPERATING INCOME | $71M |
| Interest Income | $0 |
| Interest Expense | $320.0K |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | $77M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | $64M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $64M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $64M |
| D&A | $0 |
| EBIT | $78M |
| EBITDA | $78M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $190M |
| Cost of Revenue | $40M |
| GROSS PROFIT | $150M |
| R&D Expenses | $49M |
| Selling & Marketing | $0 |
| General & Administrative | $30M |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $79M |
| Cost & Expenses | $119M |
| OPERATING INCOME | $71M |
| Interest Income | $0 |
| Interest Expense | $320.0K |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | $77M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | $64M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $64M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $64M |
| D&A | $0 |
| EBIT | $78M |
| EBITDA | $78M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $64M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $7M |
| Other Non-Cash Items | $15M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $100M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$168M |
| Sales/Maturities of Investments | $183M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $8M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$1M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | -$5M |
| FREE CASH FLOW | $93M |
| Net Change in Cash | $104M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $183M |
| Short-Term Investments | $579M |
| Net Receivables | $163M |
| Inventory | $44M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $989M |
| PP&E (Net) | $130M |
| Goodwill | $287M |
| Intangible Assets | $10M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $114M |
| TOTAL NON-CURRENT ASSETS | $541M |
| TOTAL ASSETS | $1.5B |
| Account Payables | $36M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $56M |
| TOTAL CURRENT LIABILITIES | $121M |
| Long-Term Debt | $19M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $7M |
| TOTAL NON-CURRENT LIABILITIES | $45M |
| TOTAL LIABILITIES | $165M |
| Common Stock | $1.4B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.4B |
| TOTAL LIABILITIES & EQUITY | $1.5B |
| Total Debt | $44M |
| Net Debt | -$139M |
