| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $118M | $110M | $113M | 7.4% | 4.4% |
| Op. Income | $5M | $27M | $25M | -80.8% | -79.5% |
| Gross Margin | 22.3% | 59.3% | 53.6% | -37.0pp | -31.4pp |
| Net Margin | 4.1% | 19.8% | 18.1% | -15.6pp | -13.9pp |
| EPS (Diluted) | $0.16 | $0.72 | $0.68 | -77.8% | -76.5% |
| Free Cash Flow | $38M | -$2M | -$14M | 1744.6% | 366.0% |
| Item | Amount |
|---|---|
| REVENUE | $118M |
| Cost of Revenue | $92M |
| GROSS PROFIT | $26M |
| R&D Expenses | $0 |
| Selling & Marketing | $924.0K |
| General & Administrative | $20M |
| SG&A Expenses | $21M |
| Other Expenses | $0 |
| Operating Expenses | $21M |
| Cost & Expenses | $113M |
| OPERATING INCOME | $5M |
| Interest Income | $199M |
| Interest Expense | $46M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $189.0K |
| Net Income from Continuing Ops | $5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $5M |
| D&A | $41M |
| EBIT | $5M |
| EBITDA | $46M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $118M |
| Cost of Revenue | $92M |
| GROSS PROFIT | $26M |
| R&D Expenses | $0 |
| Selling & Marketing | $924.0K |
| General & Administrative | $20M |
| SG&A Expenses | $21M |
| Other Expenses | $0 |
| Operating Expenses | $21M |
| Cost & Expenses | $113M |
| OPERATING INCOME | $5M |
| Interest Income | $199M |
| Interest Expense | $46M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $189.0K |
| Net Income from Continuing Ops | $5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $5M |
| D&A | $41M |
| EBIT | $5M |
| EBITDA | $46M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $5M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $790.0K |
| Deferred Income Tax | -$146.0K |
| Other Non-Cash Items | $28M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $40M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$339M |
| Sales/Maturities of Investments | $472M |
| Other Investing Activities | -$149M |
| NET CASH FROM INVESTING | -$18M |
| Net Debt Issuance | -$263M |
| Common Stock Repurchased | -$2M |
| Common Dividends Paid | -$11M |
| Other Financing Activities | $330M |
| NET CASH FROM FINANCING | $54M |
| FREE CASH FLOW | $38M |
| Net Change in Cash | $77M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $456M |
| Short-Term Investments | $1.0B |
| Net Receivables | $35M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $160M |
| Goodwill | $201M |
| Intangible Assets | $1M |
| Long-Term Investments | $6.3B |
| Tax Assets | $31M |
| Other Non-Current Assets | $213M |
| TOTAL NON-CURRENT ASSETS | $6.9B |
| TOTAL ASSETS | $8.4B |
| Account Payables | $0 |
| Short-Term Debt | $200M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $7.0B |
| TOTAL CURRENT LIABILITIES | $7.2B |
| Long-Term Debt | $301M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $71M |
| TOTAL NON-CURRENT LIABILITIES | $387M |
| TOTAL LIABILITIES | $7.5B |
| Common Stock | $48M |
| Additional Paid-In Capital | $795M |
| Retained Earnings | $342M |
| Treasury Stock | -$242M |
| Accum. Other Comp. Income | -$108M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $835M |
| Minority Interest | $0 |
| TOTAL EQUITY | $835M |
| TOTAL LIABILITIES & EQUITY | $8.4B |
| Total Debt | $515M |
| Net Debt | $59M |
