| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $73M | $170M | $223M | -57.3% | -67.5% |
| Op. Income | $0 | $75M | $75M | -100.0% | -100.0% |
| Net Margin | 82.8% | 33.1% | 25.6% | 49.7pp | 57.2pp |
| EPS (Diluted) | $1.41 | $1.28 | $1.19 | 10.2% | 18.5% |
| Item | Amount |
|---|---|
| REVENUE | $73M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $0 |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | $0 |
| OPERATING INCOME | $0 |
| Interest Income | $0 |
| Interest Expense | $10M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $79M |
| Income Tax Expense | $19M |
| Net Income from Continuing Ops | $60M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $60M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $60M |
| D&A | $0 |
| EBIT | $0 |
| EBITDA | $0 |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $9M |
| Short-Term Investments | $1.6B |
| Net Receivables | $41M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.7B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $21M |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $21M |
| TOTAL ASSETS | $9.9B |
| Account Payables | $0 |
| Short-Term Debt | $470M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $470M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $8.7B |
| TOTAL NON-CURRENT LIABILITIES | $8.7B |
| TOTAL LIABILITIES | $9.2B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $697M |
| TOTAL STOCKHOLDERS' EQUITY | $697M |
| Minority Interest | $0 |
| TOTAL EQUITY | $697M |
| TOTAL LIABILITIES & EQUITY | $9.9B |
| Total Debt | $470M |
| Net Debt | $461M |
