| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $320M | $308M | $262M | 3.9% | 22.2% |
| Op. Income | $23M | $29M | $18M | -20.0% | 28.3% |
| Gross Margin | 89.6% | 96.4% | 96.3% | -6.8pp | -6.7pp |
| Net Margin | 45.2% | 3.3% | 2.9% | 41.9pp | 42.4pp |
| EPS (Diluted) | $10.32 | $0.73 | $0.55 | 1313.7% | 1776.4% |
| Free Cash Flow | $14M | $26M | $13M | -47.1% | 0.8% |
| Item | Amount |
|---|---|
| REVENUE | $320M |
| Cost of Revenue | $33M |
| GROSS PROFIT | $286M |
| R&D Expenses | $45M |
| Selling & Marketing | $238M |
| General & Administrative | $31M |
| SG&A Expenses | $269M |
| Other Expenses | -$68M |
| Operating Expenses | $247M |
| Cost & Expenses | $280M |
| OPERATING INCOME | $23M |
| Interest Income | $0 |
| Interest Expense | $47M |
| Other Income/Expenses | -$26M |
| INCOME BEFORE TAX | $13M |
| Income Tax Expense | -$131M |
| NET INCOME | $145M |
| D&A | $5M |
| EBIT | $23M |
| EBITDA | $28M |
| EPS | $11 |
| EPS Diluted | $10 |
| Item | Amount |
|---|---|
| REVENUE | $320M |
| Cost of Revenue | $33M |
| GROSS PROFIT | $286M |
| R&D Expenses | $45M |
| Selling & Marketing | $238M |
| General & Administrative | $31M |
| SG&A Expenses | $269M |
| Other Expenses | -$68M |
| Operating Expenses | $247M |
| Cost & Expenses | $280M |
| OPERATING INCOME | $23M |
| Interest Income | $0 |
| Interest Expense | $47M |
| Other Income/Expenses | -$26M |
| INCOME BEFORE TAX | $13M |
| Income Tax Expense | -$131M |
| NET INCOME | $145M |
| D&A | $5M |
| EBIT | $23M |
| EBITDA | $28M |
| EPS | $11 |
| EPS Diluted | $10 |
| Item | Amount |
|---|---|
| Net Income | $145M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | -$131M |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | $17M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | $4M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | $14M |
| Net Change in Cash | $12M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $81M |
| Short-Term Investments | $0 |
| Net Receivables | $111M |
| Inventory | $0 |
| Other Current Assets | $49M |
| TOTAL CURRENT ASSETS | $241M |
| PP&E (Net) | $64M |
| Goodwill | $382M |
| Intangible Assets | $38M |
| Long-Term Investments | $475.0K |
| Tax Assets | $125M |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $615M |
| TOTAL ASSETS | $856M |
| Account Payables | $7M |
| Short-Term Debt | $4M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $127M |
| TOTAL CURRENT LIABILITIES | $137M |
| Long-Term Debt | $388M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $140.0K |
| TOTAL NON-CURRENT LIABILITIES | $431M |
| TOTAL LIABILITIES | $569M |
| Common Stock | $171.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$728M |
| Treasury Stock | -$266M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $287M |
| Minority Interest | $0 |
| TOTAL EQUITY | $287M |
| TOTAL LIABILITIES & EQUITY | $856M |
| Total Debt | $435M |
| Net Debt | $354M |
