| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $190M | $189M | $178M | 0.5% | 6.8% |
| Op. Income | $60M | $72M | $64M | -17.2% | -7.5% |
| Gross Margin | 63.3% | 67.7% | 67.1% | -4.3pp | -3.8pp |
| Net Margin | 11.9% | 34.7% | 16.7% | -22.8pp | -4.9pp |
| EPS (Diluted) | $0.09 | $0.27 | $0.13 | -65.8% | -28.9% |
| Free Cash Flow | $100M | $81M | $98M | 23.5% | 2.4% |
| Item | Amount |
|---|---|
| REVENUE | $190M |
| Cost of Revenue | $70M |
| GROSS PROFIT | $120M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $13M |
| SG&A Expenses | $13M |
| Other Expenses | $48M |
| Operating Expenses | $61M |
| Cost & Expenses | $130M |
| OPERATING INCOME | $60M |
| Interest Income | $0 |
| Interest Expense | $31M |
| Other Income/Expenses | -$37M |
| INCOME BEFORE TAX | $23M |
| Income Tax Expense | $436.0K |
| Net Income from Continuing Ops | $23M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $23M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $23M |
| D&A | $49M |
| EBIT | $52M |
| EBITDA | $100M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $190M |
| Cost of Revenue | $70M |
| GROSS PROFIT | $120M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $13M |
| SG&A Expenses | $13M |
| Other Expenses | $48M |
| Operating Expenses | $61M |
| Cost & Expenses | $130M |
| OPERATING INCOME | $60M |
| Interest Income | $0 |
| Interest Expense | $31M |
| Other Income/Expenses | -$37M |
| INCOME BEFORE TAX | $23M |
| Income Tax Expense | $436.0K |
| Net Income from Continuing Ops | $23M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $23M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $23M |
| D&A | $49M |
| EBIT | $52M |
| EBITDA | $100M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $23M |
| Depreciation & Amortization | $49M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $18M |
| Change in Working Capital | $8M |
| OPERATING CASH FLOW | $100M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $2M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | -$1M |
| Other Investing Activities | -$200M |
| NET CASH FROM INVESTING | -$200M |
| Net Debt Issuance | $119M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$72M |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | $206M |
| FREE CASH FLOW | $100M |
| Net Change in Cash | $106M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $201M |
| Short-Term Investments | $0 |
| Net Receivables | $113M |
| Inventory | $0 |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $321M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $60M |
| Long-Term Investments | $182M |
| Tax Assets | $0 |
| Other Non-Current Assets | $5.0B |
| TOTAL NON-CURRENT ASSETS | $5.2B |
| TOTAL ASSETS | $5.6B |
| Account Payables | $0 |
| Short-Term Debt | $8M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $116M |
| TOTAL CURRENT LIABILITIES | $124M |
| Long-Term Debt | $2.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $2.6B |
| TOTAL LIABILITIES | $2.7B |
| Common Stock | $2M |
| Additional Paid-In Capital | $4.8B |
| Retained Earnings | -$2.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.8B |
| Minority Interest | $2M |
| TOTAL EQUITY | $2.8B |
| TOTAL LIABILITIES & EQUITY | $5.6B |
| Total Debt | $2.6B |
| Net Debt | $2.4B |
