| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $134M | $137M | $138M | -2.5% | -2.8% |
| Op. Income | -$13M | -$5M | -$228M | -161.6% | 94.1% |
| Gross Margin | 74.9% | 75.0% | 72.0% | -0.1pp | 2.8pp |
| Net Margin | -23.3% | -17.2% | -178.4% | -6.1pp | 155.1pp |
| EPS (Diluted) | $-3.75 | $-2.86 | $-30.38 | -31.1% | 87.7% |
| Free Cash Flow | $13M | $4M | $5M | 224.5% | 144.7% |
| Item | Amount |
|---|---|
| REVENUE | $134M |
| Cost of Revenue | $34M |
| GROSS PROFIT | $100M |
| R&D Expenses | $15M |
| Selling & Marketing | $5M |
| General & Administrative | $57M |
| SG&A Expenses | $62M |
| Other Expenses | $37M |
| Operating Expenses | $114M |
| Cost & Expenses | $147M |
| OPERATING INCOME | -$13M |
| Interest Income | $629.0K |
| Interest Expense | $15M |
| Other Income/Expenses | -$18M |
| INCOME BEFORE TAX | -$31M |
| Income Tax Expense | -$241.0K |
| Net Income from Continuing Ops | -$31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$31M |
| D&A | $33M |
| EBIT | -$16M |
| EBITDA | $17M |
| EPS | -$4 |
| EPS Diluted | -$4 |
| Item | Amount |
|---|---|
| Net Income | -$31M |
| Depreciation & Amortization | $33M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | $18M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$5M |
| Net Debt Issuance | $33M |
| Common Stock Repurchased | -$75.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$44M |
| NET CASH FROM FINANCING | -$11M |
| FREE CASH FLOW | $13M |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $101M |
| Short-Term Investments | $0 |
| Net Receivables | $180M |
| Inventory | $0 |
| Other Current Assets | $26M |
| TOTAL CURRENT ASSETS | $333M |
| PP&E (Net) | $8M |
| Goodwill | $317M |
| Intangible Assets | $427M |
| Long-Term Investments | $2M |
| Tax Assets | $0 |
| Other Non-Current Assets | $18M |
| TOTAL NON-CURRENT ASSETS | $773M |
| TOTAL ASSETS | $1.1B |
| Account Payables | $13M |
| Short-Term Debt | $7M |
| Deferred Revenue | $282M |
| Other Current Liabilities | $48M |
| TOTAL CURRENT LIABILITIES | $377M |
| Long-Term Debt | $573M |
| Deferred Revenue NC | $2M |
| Deferred Tax Liabilities | $42M |
| Other Non-Current Liabilities | $12M |
| TOTAL NON-CURRENT LIABILITIES | $635M |
| TOTAL LIABILITIES | $1.0B |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.4B |
| Treasury Stock | -$11M |
| Accum. Other Comp. Income | -$17M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $94M |
| Minority Interest | $0 |
| TOTAL EQUITY | $94M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $589M |
| Net Debt | $488M |
