| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $146M | $143M | $132M | 2.5% | 10.8% |
| Op. Income | $48M | $46M | $39M | 4.8% | 22.4% |
| Gross Margin | 70.2% | 68.3% | 67.4% | 1.9pp | 2.8pp |
| Net Margin | 25.0% | 25.4% | 24.0% | -0.4pp | 1.0pp |
| EPS (Diluted) | $1.24 | $1.23 | $1.07 | 0.8% | 15.9% |
| Free Cash Flow | $48M | $35M | $16M | 35.2% | 203.5% |
| Item | Amount |
|---|---|
| REVENUE | $146M |
| Cost of Revenue | $44M |
| GROSS PROFIT | $103M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $29M |
| SG&A Expenses | $31M |
| Other Expenses | $24M |
| Operating Expenses | $55M |
| Cost & Expenses | $98M |
| OPERATING INCOME | $48M |
| Interest Income | $121M |
| Interest Expense | $42M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $48M |
| Income Tax Expense | $11M |
| Net Income from Continuing Ops | $37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $37M |
| D&A | $0 |
| EBIT | $48M |
| EBITDA | $48M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $146M |
| Cost of Revenue | $44M |
| GROSS PROFIT | $103M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $29M |
| SG&A Expenses | $31M |
| Other Expenses | $24M |
| Operating Expenses | $55M |
| Cost & Expenses | $98M |
| OPERATING INCOME | $48M |
| Interest Income | $121M |
| Interest Expense | $42M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $48M |
| Income Tax Expense | $11M |
| Net Income from Continuing Ops | $37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $37M |
| D&A | $0 |
| EBIT | $48M |
| EBITDA | $48M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $37M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | -$604.0K |
| Other Non-Cash Items | $786.0K |
| Change in Working Capital | $10M |
| OPERATING CASH FLOW | $52M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$100M |
| Sales/Maturities of Investments | $128M |
| Other Investing Activities | -$123M |
| NET CASH FROM INVESTING | -$100M |
| Net Debt Issuance | $40M |
| Common Stock Repurchased | -$2.0K |
| Common Dividends Paid | -$9M |
| Other Financing Activities | $147M |
| NET CASH FROM FINANCING | $178M |
| FREE CASH FLOW | $48M |
| Net Change in Cash | $130M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $70M |
| Short-Term Investments | $816M |
| Net Receivables | $29M |
| Inventory | $0 |
| Other Current Assets | -$38M |
| TOTAL CURRENT ASSETS | $886M |
| PP&E (Net) | $0 |
| Goodwill | $194M |
| Intangible Assets | $12M |
| Long-Term Investments | $8.1B |
| Tax Assets | $0 |
| Other Non-Current Assets | $362M |
| TOTAL NON-CURRENT ASSETS | $8.6B |
| TOTAL ASSETS | $9.5B |
| Account Payables | $2M |
| Short-Term Debt | $124M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $7.8B |
| TOTAL CURRENT LIABILITIES | $7.9B |
| Long-Term Debt | $327M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $20M |
| Other Non-Current Liabilities | $8.0B |
| TOTAL NON-CURRENT LIABILITIES | $8.4B |
| TOTAL LIABILITIES | $8.5B |
| Common Stock | $59M |
| Additional Paid-In Capital | $403M |
| Retained Earnings | $675M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$61M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $9.5B |
| Total Debt | $480M |
| Net Debt | $409M |
