| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $791M | — | $666M | — | 18.7% |
| Op. Income | $52M | — | $35M | — | 46.2% |
| Gross Margin | 62.1% | — | 96.9% | — | -34.8pp |
| Net Margin | 4.6% | — | 3.4% | — | 1.2pp |
| EPS (Diluted) | $1.25 | — | $0.80 | — | 56.2% |
| Free Cash Flow | $62M | — | $56M | — | 12.0% |
| Item | Amount |
|---|---|
| REVENUE | $791M |
| Cost of Revenue | $300M |
| GROSS PROFIT | $491M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $439M |
| SG&A Expenses | $439M |
| Other Expenses | $0 |
| Operating Expenses | $439M |
| Cost & Expenses | $739M |
| OPERATING INCOME | $52M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $52M |
| Income Tax Expense | $11M |
| Net Income from Continuing Ops | $41M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $36M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $36M |
| D&A | $15M |
| EBIT | $52M |
| EBITDA | $67M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $791M |
| Cost of Revenue | $300M |
| GROSS PROFIT | $491M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $439M |
| SG&A Expenses | $439M |
| Other Expenses | $0 |
| Operating Expenses | $439M |
| Cost & Expenses | $739M |
| OPERATING INCOME | $52M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $52M |
| Income Tax Expense | $11M |
| Net Income from Continuing Ops | $41M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $36M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $36M |
| D&A | $15M |
| EBIT | $52M |
| EBITDA | $67M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $36M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $30M |
| Change in Working Capital | $24M |
| OPERATING CASH FLOW | $90M |
| Capital Expenditure | -$27M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$277M |
| NET CASH FROM INVESTING | -$277M |
| Net Debt Issuance | $200M |
| Common Stock Repurchased | -$322.0K |
| Common Dividends Paid | -$16M |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | $320M |
| FREE CASH FLOW | $62M |
| Net Change in Cash | $133M |
