| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $150M | $150M | $155M | -0.6% | -3.6% |
| Op. Income | $32M | $32M | $32M | -1.8% | -0.6% |
| Gross Margin | 69.4% | 70.0% | 69.0% | -0.6pp | 0.3pp |
| Net Margin | 17.5% | 17.1% | 16.3% | 0.4pp | 1.2pp |
| EPS (Diluted) | $0.51 | $0.50 | $0.47 | 2.0% | 8.5% |
| Free Cash Flow | $12M | $63M | $3M | -80.9% | 361.7% |
| Item | Amount |
|---|---|
| REVENUE | $150M |
| Cost of Revenue | $46M |
| GROSS PROFIT | $104M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $48M |
| SG&A Expenses | $48M |
| Other Expenses | $24M |
| Operating Expenses | $72M |
| Cost & Expenses | $118M |
| OPERATING INCOME | $32M |
| Interest Income | $144M |
| Interest Expense | $41M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $32M |
| Income Tax Expense | $5M |
| 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 | $26M |
| D&A | $0 |
| EBIT | $32M |
| EBITDA | $32M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $150M |
| Cost of Revenue | $46M |
| GROSS PROFIT | $104M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $48M |
| SG&A Expenses | $48M |
| Other Expenses | $24M |
| Operating Expenses | $72M |
| Cost & Expenses | $118M |
| OPERATING INCOME | $32M |
| Interest Income | $144M |
| Interest Expense | $41M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $32M |
| Income Tax Expense | $5M |
| 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 | $26M |
| D&A | $0 |
| EBIT | $32M |
| EBITDA | $32M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $26M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$24M |
| OPERATING CASH FLOW | $13M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1.5B |
| Sales/Maturities of Investments | $1.2B |
| Other Investing Activities | -$128M |
| NET CASH FROM INVESTING | -$479M |
| Net Debt Issuance | -$30M |
| Common Stock Repurchased | -$9M |
| Common Dividends Paid | -$8M |
| Other Financing Activities | $204M |
| NET CASH FROM FINANCING | $156M |
| FREE CASH FLOW | $12M |
| Net Change in Cash | -$309M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $419M |
| Short-Term Investments | $1.8B |
| Net Receivables | $36M |
| Inventory | $0 |
| Other Current Assets | -$2.1B |
| TOTAL CURRENT ASSETS | $130M |
| PP&E (Net) | $110M |
| Goodwill | $497M |
| Intangible Assets | $71M |
| Long-Term Investments | $7.6B |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.4B |
| TOTAL NON-CURRENT ASSETS | $10.7B |
| TOTAL ASSETS | $10.8B |
| Account Payables | $6M |
| Short-Term Debt | $4M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$15M |
| TOTAL CURRENT LIABILITIES | $4M |
| Long-Term Debt | $40M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9.1B |
| TOTAL NON-CURRENT LIABILITIES | $9.1B |
| TOTAL LIABILITIES | $9.1B |
| Common Stock | $509.0K |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | $566M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$73M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.7B |
| TOTAL LIABILITIES & EQUITY | $10.8B |
| Total Debt | $40M |
| Net Debt | -$379M |
