| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $408M | $481M | $376M | -15.2% | 8.4% |
| Op. Income | $22M | $71M | $33M | -68.9% | -33.3% |
| Gross Margin | 40.8% | 46.5% | 49.4% | -5.7pp | -8.6pp |
| Net Margin | 6.4% | 11.1% | 2.3% | -4.7pp | 4.1pp |
| EPS (Diluted) | $0.12 | $0.31 | $0.05 | -61.3% | 140.0% |
| Free Cash Flow | $70M | -$31M | $43M | 326.6% | 64.5% |
| Item | Amount |
|---|---|
| REVENUE | $408M |
| Cost of Revenue | $242M |
| GROSS PROFIT | $166M |
| R&D Expenses | $0 |
| Selling & Marketing | $93M |
| General & Administrative | $42M |
| SG&A Expenses | $134M |
| Other Expenses | $10M |
| Operating Expenses | $144M |
| Cost & Expenses | $386M |
| OPERATING INCOME | $22M |
| Interest Income | $0 |
| Interest Expense | $20M |
| Other Income/Expenses | $13M |
| INCOME BEFORE TAX | $35M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | $26M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $26M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $20M |
| D&A | $5M |
| EBIT | $55M |
| EBITDA | $60M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $408M |
| Cost of Revenue | $242M |
| GROSS PROFIT | $166M |
| R&D Expenses | $0 |
| Selling & Marketing | $93M |
| General & Administrative | $42M |
| SG&A Expenses | $134M |
| Other Expenses | $10M |
| Operating Expenses | $144M |
| Cost & Expenses | $386M |
| OPERATING INCOME | $22M |
| Interest Income | $0 |
| Interest Expense | $20M |
| Other Income/Expenses | $13M |
| INCOME BEFORE TAX | $35M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | $26M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $26M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $20M |
| D&A | $5M |
| EBIT | $55M |
| EBITDA | $60M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $26M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $9M |
| Other Non-Cash Items | -$27M |
| Change in Working Capital | $53M |
| OPERATING CASH FLOW | $71M |
| Capital Expenditure | -$949.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$325M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | $5M |
| FREE CASH FLOW | $70M |
| Net Change in Cash | $73M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $80M |
| Short-Term Investments | $0 |
| Net Receivables | $260M |
| Inventory | $0 |
| Other Current Assets | $20M |
| TOTAL CURRENT ASSETS | $360M |
| PP&E (Net) | $40M |
| Goodwill | $29M |
| Intangible Assets | $22M |
| Long-Term Investments | $841M |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $936M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $78M |
| Short-Term Debt | $29M |
| Deferred Revenue | $945.0K |
| Other Current Liabilities | $64M |
| TOTAL CURRENT LIABILITIES | $194M |
| Long-Term Debt | $362M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $40M |
| Other Non-Current Liabilities | $116M |
| TOTAL NON-CURRENT LIABILITIES | $544M |
| TOTAL LIABILITIES | $738M |
| Common Stock | $2M |
| Additional Paid-In Capital | $584M |
| Retained Earnings | -$235M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $558M |
| Minority Interest | $0 |
| TOTAL EQUITY | $558M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $423M |
| Net Debt | $342M |
