| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $140M | $109M | $121M | 28.5% | 16.0% |
| Op. Income | $24M | $1M | $6M | 1748.3% | 306.8% |
| Gross Margin | 86.8% | 96.1% | 81.8% | -9.3pp | 4.9pp |
| Net Margin | 13.7% | 1.6% | 3.2% | 12.1pp | 10.5pp |
| EPS (Diluted) | $0.77 | $0.04 | $0.13 | 1981.1% | 492.3% |
| Free Cash Flow | $25M | $22M | $7M | 10.4% | 240.1% |
| Item | Amount |
|---|---|
| REVENUE | $140M |
| Cost of Revenue | $19M |
| GROSS PROFIT | $122M |
| R&D Expenses | $0 |
| Selling & Marketing | -$17M |
| General & Administrative | $57M |
| SG&A Expenses | $40M |
| Other Expenses | $58M |
| Operating Expenses | $98M |
| Cost & Expenses | $117M |
| OPERATING INCOME | $24M |
| Interest Income | -$320M |
| Interest Expense | -$60M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $24M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $18M |
| D&A | -$5M |
| EBIT | $24M |
| EBITDA | $19M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $140M |
| Cost of Revenue | $19M |
| GROSS PROFIT | $122M |
| R&D Expenses | $0 |
| Selling & Marketing | -$17M |
| General & Administrative | $57M |
| SG&A Expenses | $40M |
| Other Expenses | $58M |
| Operating Expenses | $98M |
| Cost & Expenses | $117M |
| OPERATING INCOME | $24M |
| Interest Income | -$320M |
| Interest Expense | -$60M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $24M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $19M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $19M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $18M |
| D&A | -$5M |
| EBIT | $24M |
| EBITDA | $19M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $19M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | -$8M |
| Change in Working Capital | $14M |
| OPERATING CASH FLOW | $36M |
| Capital Expenditure | -$12M |
| Acquisitions (Net) | $143.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $14M |
| Other Investing Activities | $63M |
| NET CASH FROM INVESTING | $70M |
| Net Debt Issuance | -$459M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $454M |
| NET CASH FROM FINANCING | -$6M |
| FREE CASH FLOW | $25M |
| Net Change in Cash | $101M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $248M |
| Short-Term Investments | $364M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $613M |
| PP&E (Net) | $91M |
| Goodwill | $355M |
| Intangible Assets | $48M |
| Long-Term Investments | $0 |
| Tax Assets | $181.0K |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $494M |
| TOTAL ASSETS | $6.4B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $5.4B |
| TOTAL NON-CURRENT LIABILITIES | $5.4B |
| TOTAL LIABILITIES | $5.4B |
| Common Stock | $295.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $571M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $327M |
| TOTAL STOCKHOLDERS' EQUITY | $942M |
| Minority Interest | $0 |
| TOTAL EQUITY | $942M |
| TOTAL LIABILITIES & EQUITY | $6.4B |
| Total Debt | $0 |
| Net Debt | -$248M |
