| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $323M | $316M | $291M | 2.3% | 11.0% |
| Op. Income | $36M | $37M | $33M | -1.7% | 10.0% |
| Gross Margin | 36.6% | 38.5% | 37.3% | -1.9pp | -0.7pp |
| Net Margin | 8.8% | 9.2% | 8.9% | -0.4pp | -0.1pp |
| EPS (Diluted) | $1.90 | $1.95 | $1.73 | -2.6% | 9.8% |
| Free Cash Flow | $85M | $32M | $73M | 164.9% | 16.7% |
| Item | Amount |
|---|---|
| REVENUE | $323M |
| Cost of Revenue | $205M |
| GROSS PROFIT | $118M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $82M |
| Operating Expenses | $82M |
| Cost & Expenses | $287M |
| OPERATING INCOME | $36M |
| Interest Income | $22M |
| Interest Expense | $426.0K |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $28M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $28M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $28M |
| D&A | $1M |
| EBIT | $37M |
| EBITDA | $38M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $323M |
| Cost of Revenue | $205M |
| GROSS PROFIT | $118M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $82M |
| Operating Expenses | $82M |
| Cost & Expenses | $287M |
| OPERATING INCOME | $36M |
| Interest Income | $22M |
| Interest Expense | $426.0K |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $28M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $28M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $28M |
| D&A | $1M |
| EBIT | $37M |
| EBITDA | $38M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $28M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | -$5M |
| Change in Working Capital | $60M |
| OPERATING CASH FLOW | $85M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$190M |
| Sales/Maturities of Investments | $125M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$65M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$14M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$14M |
| FREE CASH FLOW | $85M |
| Net Change in Cash | $7M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $56M |
| Short-Term Investments | $602M |
| Net Receivables | $508M |
| Inventory | $0 |
| Other Current Assets | -$816M |
| TOTAL CURRENT ASSETS | $389M |
| PP&E (Net) | $13M |
| Goodwill | $17M |
| Intangible Assets | $7M |
| Long-Term Investments | $1.1B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$1.1B |
| TOTAL NON-CURRENT ASSETS | $37M |
| TOTAL ASSETS | $2.4B |
| Account Payables | $102M |
| Short-Term Debt | $1M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$113M |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $42M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.3B |
| TOTAL NON-CURRENT LIABILITIES | $1.3B |
| TOTAL LIABILITIES | $1.6B |
| Common Stock | $181.0K |
| Additional Paid-In Capital | $235M |
| Retained Earnings | $838M |
| Treasury Stock | -$150M |
| Accum. Other Comp. Income | -$22M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $900M |
| Minority Interest | $0 |
| TOTAL EQUITY | $900M |
| TOTAL LIABILITIES & EQUITY | $2.4B |
| Total Debt | $54M |
| Net Debt | -$2M |
