| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $207M | $198M | $195M | 4.4% | 6.3% |
| Op. Income | $32M | $27M | $23M | 18.6% | 40.7% |
| Gross Margin | 40.8% | 40.6% | 38.0% | 0.2pp | 2.7pp |
| Net Margin | 12.5% | 10.8% | 9.3% | 1.7pp | 3.2pp |
| EPS (Diluted) | $0.09 | $0.08 | $0.06 | 21.0% | 43.0% |
| Free Cash Flow | -$13M | $25M | -$59M | -152.9% | 77.7% |
| Item | Amount |
|---|---|
| REVENUE | $207M |
| Cost of Revenue | $123M |
| GROSS PROFIT | $84M |
| R&D Expenses | $0 |
| Selling & Marketing | $5M |
| General & Administrative | $19M |
| SG&A Expenses | $24M |
| Other Expenses | $28M |
| Operating Expenses | $52M |
| Cost & Expenses | $175M |
| OPERATING INCOME | $32M |
| Interest Income | $199M |
| Interest Expense | $122M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $32M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | $26M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $26M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $26M |
| D&A | $6M |
| EBIT | $32M |
| EBITDA | $39M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $207M |
| Cost of Revenue | $123M |
| GROSS PROFIT | $84M |
| R&D Expenses | $0 |
| Selling & Marketing | $5M |
| General & Administrative | $19M |
| SG&A Expenses | $24M |
| Other Expenses | $28M |
| Operating Expenses | $52M |
| Cost & Expenses | $175M |
| OPERATING INCOME | $32M |
| Interest Income | $199M |
| Interest Expense | $122M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $32M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | $26M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $26M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $26M |
| D&A | $6M |
| EBIT | $32M |
| EBITDA | $39M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $26M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | -$27M |
| Change in Working Capital | -$21M |
| OPERATING CASH FLOW | -$11M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$19M |
| Sales/Maturities of Investments | $25M |
| Other Investing Activities | -$78M |
| NET CASH FROM INVESTING | -$74M |
| Net Debt Issuance | -$12M |
| Common Stock Repurchased | -$2M |
| Common Dividends Paid | -$15M |
| Other Financing Activities | $91M |
| NET CASH FROM FINANCING | $62M |
| FREE CASH FLOW | -$13M |
| Net Change in Cash | -$23M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $429M |
| Short-Term Investments | $54M |
| Net Receivables | $63M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $546M |
| PP&E (Net) | $40M |
| Goodwill | $0 |
| Intangible Assets | $9M |
| Long-Term Investments | $16.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $674M |
| TOTAL NON-CURRENT ASSETS | $16.9B |
| TOTAL ASSETS | $17.5B |
| Account Payables | $15M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $10.4B |
| TOTAL CURRENT LIABILITIES | $10.4B |
| Long-Term Debt | $4.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $215M |
| TOTAL NON-CURRENT LIABILITIES | $5.1B |
| TOTAL LIABILITIES | $15.6B |
| Common Stock | $3M |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | $947M |
| Treasury Stock | -$774M |
| Accum. Other Comp. Income | -$21M |
| Other Equity | -$18M |
| TOTAL STOCKHOLDERS' EQUITY | $1.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.9B |
| TOTAL LIABILITIES & EQUITY | $17.5B |
| Total Debt | $4.9B |
| Net Debt | $4.5B |
