| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $222M | — | $188M | — | 18.0% |
| Op. Income | $81M | — | $42M | — | 91.4% |
| Gross Margin | 40.9% | — | 100.0% | — | -59.1pp |
| Net Margin | 26.1% | — | 10.2% | — | 15.9pp |
| EPS (Diluted) | $1.70 | — | $0.41 | — | 314.6% |
| Item | Amount |
|---|---|
| REVENUE | $222M |
| Cost of Revenue | $131M |
| GROSS PROFIT | $91M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $10M |
| Cost & Expenses | $141M |
| OPERATING INCOME | $81M |
| Interest Income | $3M |
| Interest Expense | $25M |
| Other Income/Expenses | -$22M |
| INCOME BEFORE TAX | $59M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $59M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $58M |
| Net Income Deductions | $529.0K |
| BOTTOM LINE NET INCOME | $51M |
| D&A | $44M |
| EBIT | $81M |
| EBITDA | $126M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $222M |
| Cost of Revenue | $131M |
| GROSS PROFIT | $91M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $10M |
| Cost & Expenses | $141M |
| OPERATING INCOME | $81M |
| Interest Income | $3M |
| Interest Expense | $25M |
| Other Income/Expenses | -$22M |
| INCOME BEFORE TAX | $59M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $59M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $58M |
| Net Income Deductions | $529.0K |
| BOTTOM LINE NET INCOME | $51M |
| D&A | $44M |
| EBIT | $81M |
| EBITDA | $126M |
| EPS | $2 |
| EPS Diluted | $2 |
