| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $161M | $144M | $122M | 11.8% | 32.2% |
| Op. Income | $21M | $23M | $9M | -8.7% | 146.1% |
| Gross Margin | 58.1% | 58.8% | 59.2% | -0.7pp | -1.1pp |
| Net Margin | 65.6% | 16.9% | 5.6% | 48.6pp | 59.9pp |
| EPS (Diluted) | $2.59 | $0.66 | $0.19 | 292.4% | 1263.2% |
| Free Cash Flow | $19M | $62M | $6M | -69.3% | 213.7% |
| Item | Amount |
|---|---|
| REVENUE | $161M |
| Cost of Revenue | $67M |
| GROSS PROFIT | $93M |
| R&D Expenses | $21M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $51M |
| Other Expenses | $0 |
| Operating Expenses | $72M |
| Cost & Expenses | $139M |
| OPERATING INCOME | $21M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | $360.0K |
| INCOME BEFORE TAX | $22M |
| Income Tax Expense | -$84M |
| Net Income from Continuing Ops | $105M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $105M |
| Net Income Deductions | -$51.0K |
| BOTTOM LINE NET INCOME | $105M |
| D&A | $7M |
| EBIT | $25M |
| EBITDA | $32M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $161M |
| Cost of Revenue | $67M |
| GROSS PROFIT | $93M |
| R&D Expenses | $21M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $51M |
| Other Expenses | $0 |
| Operating Expenses | $72M |
| Cost & Expenses | $139M |
| OPERATING INCOME | $21M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | $360.0K |
| INCOME BEFORE TAX | $22M |
| Income Tax Expense | -$84M |
| Net Income from Continuing Ops | $105M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $105M |
| Net Income Deductions | -$51.0K |
| BOTTOM LINE NET INCOME | $105M |
| D&A | $7M |
| EBIT | $25M |
| EBITDA | $32M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $105M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | -$84M |
| Other Non-Cash Items | $751.0K |
| Change in Working Capital | -$5M |
| OPERATING CASH FLOW | $35M |
| Capital Expenditure | -$16M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$16M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $3M |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | $19M |
| Net Change in Cash | $22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $488M |
| Short-Term Investments | $0 |
| Net Receivables | $84M |
| Inventory | $49M |
| Other Current Assets | $16M |
| TOTAL CURRENT ASSETS | $638M |
| PP&E (Net) | $333M |
| Goodwill | $12M |
| Intangible Assets | $2M |
| Long-Term Investments | $0 |
| Tax Assets | $84M |
| Other Non-Current Assets | $739.0K |
| TOTAL NON-CURRENT ASSETS | $431M |
| TOTAL ASSETS | $1.1B |
| Account Payables | $10M |
| Short-Term Debt | $13M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $63M |
| TOTAL CURRENT LIABILITIES | $89M |
| Long-Term Debt | $456M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $50M |
| TOTAL NON-CURRENT LIABILITIES | $506M |
| TOTAL LIABILITIES | $595M |
| Common Stock | $751M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$278M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $124.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $473M |
| Minority Interest | $0 |
| TOTAL EQUITY | $473M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $470M |
| Net Debt | -$19M |
