| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $226M | $211M | $174M | 7.1% | 29.5% |
| Op. Income | -$80M | -$89M | -$81M | 9.9% | 1.2% |
| Gross Margin | 74.7% | 74.7% | 72.3% | 0.0pp | 2.4pp |
| Net Margin | -31.4% | -37.2% | -41.3% | 5.8pp | 9.9pp |
| EPS (Diluted) | $-0.22 | $-0.25 | $-0.24 | 12.0% | 8.3% |
| Free Cash Flow | -$9M | -$13M | -$11M | 29.5% | 16.6% |
| Item | Amount |
|---|---|
| REVENUE | $226M |
| Cost of Revenue | $57M |
| GROSS PROFIT | $169M |
| R&D Expenses | $75M |
| Selling & Marketing | $128M |
| General & Administrative | $46M |
| SG&A Expenses | $174M |
| Other Expenses | $0 |
| Operating Expenses | $249M |
| Cost & Expenses | $306M |
| OPERATING INCOME | -$80M |
| Interest Income | $12M |
| Interest Expense | $61.0K |
| Other Income/Expenses | $11M |
| INCOME BEFORE TAX | -$69M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$71M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$71M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$71M |
| D&A | $11M |
| EBIT | -$69M |
| EBITDA | -$58M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$71M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $74M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $16M |
| Change in Working Capital | -$34M |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | -$62M |
| Purchases of Investments | -$207M |
| Sales/Maturities of Investments | $142M |
| Other Investing Activities | -$5M |
| NET CASH FROM INVESTING | -$132M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $24M |
| NET CASH FROM FINANCING | $24M |
| FREE CASH FLOW | -$9M |
| Net Change in Cash | -$112M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $187M |
| Short-Term Investments | $535M |
| Net Receivables | $236M |
| Inventory | $0 |
| Other Current Assets | $112M |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $72M |
| Goodwill | $630M |
| Intangible Assets | $107M |
| Long-Term Investments | $419M |
| Tax Assets | $0 |
| Other Non-Current Assets | $109M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $2.4B |
| Account Payables | $8M |
| Short-Term Debt | $0 |
| Deferred Revenue | $470M |
| Other Current Liabilities | $50M |
| TOTAL CURRENT LIABILITIES | $614M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $102M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $8M |
| TOTAL NON-CURRENT LIABILITIES | $124M |
| TOTAL LIABILITIES | $737M |
| Common Stock | $32.0K |
| Additional Paid-In Capital | $3.3B |
| Retained Earnings | -$1.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.7B |
| TOTAL LIABILITIES & EQUITY | $2.4B |
| Total Debt | $19M |
| Net Debt | -$168M |
