| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $217M | $227M | $172M | -4.4% | 26.3% |
| Op. Income | $73M | $80M | $69M | -8.2% | 6.0% |
| Gross Margin | 59.8% | 60.3% | 71.2% | -0.6pp | -11.5pp |
| Net Margin | 25.3% | 26.4% | 30.0% | -1.0pp | -4.7pp |
| EPS (Diluted) | $1.18 | $1.27 | $1.04 | -7.1% | 13.5% |
| Free Cash Flow | $81M | $85M | $49M | -4.5% | 65.2% |
| Item | Amount |
|---|---|
| REVENUE | $217M |
| Cost of Revenue | $87M |
| GROSS PROFIT | $130M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $41M |
| SG&A Expenses | $41M |
| Other Expenses | $15M |
| Operating Expenses | $56M |
| Cost & Expenses | $144M |
| OPERATING INCOME | $73M |
| Interest Income | $136M |
| Interest Expense | $42M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $73M |
| Income Tax Expense | $18M |
| Net Income from Continuing Ops | $55M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $55M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $55M |
| D&A | $1M |
| EBIT | $73M |
| EBITDA | $74M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $217M |
| Cost of Revenue | $87M |
| GROSS PROFIT | $130M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $41M |
| SG&A Expenses | $41M |
| Other Expenses | $15M |
| Operating Expenses | $56M |
| Cost & Expenses | $144M |
| OPERATING INCOME | $73M |
| Interest Income | $136M |
| Interest Expense | $42M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $73M |
| Income Tax Expense | $18M |
| Net Income from Continuing Ops | $55M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $55M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $55M |
| D&A | $1M |
| EBIT | $73M |
| EBITDA | $74M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $55M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $33M |
| Change in Working Capital | -$16M |
| OPERATING CASH FLOW | $78M |
| Capital Expenditure | $3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$64M |
| Sales/Maturities of Investments | $146M |
| Other Investing Activities | -$132M |
| NET CASH FROM INVESTING | -$49M |
| Net Debt Issuance | $300M |
| Common Stock Repurchased | -$151M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$435M |
| NET CASH FROM FINANCING | -$285M |
| FREE CASH FLOW | $81M |
| Net Change in Cash | -$256M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $85M |
| Short-Term Investments | $14M |
| Net Receivables | $722M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $820M |
| PP&E (Net) | $26M |
| Goodwill | $263.0K |
| Intangible Assets | $692.0K |
| Long-Term Investments | $7.4B |
| Tax Assets | $10M |
| Other Non-Current Assets | $299M |
| TOTAL NON-CURRENT ASSETS | $7.8B |
| TOTAL ASSETS | $8.6B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $7.3B |
| TOTAL CURRENT LIABILITIES | $7.3B |
| Long-Term Debt | $223M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $267M |
| TOTAL NON-CURRENT LIABILITIES | $490M |
| TOTAL LIABILITIES | $7.8B |
| Common Stock | $48M |
| Additional Paid-In Capital | $19M |
| Retained Earnings | $951M |
| Treasury Stock | -$250M |
| Accum. Other Comp. Income | $9M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $778M |
| Minority Interest | $0 |
| TOTAL EQUITY | $778M |
| TOTAL LIABILITIES & EQUITY | $8.6B |
| Total Debt | $223M |
| Net Debt | $139M |
