| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $503M | $471M | $457M | 6.9% | 10.1% |
| Op. Income | -$98M | -$126M | -$124M | 22.2% | 20.9% |
| Gross Margin | 61.2% | 74.4% | 74.7% | -13.2pp | -13.5pp |
| Net Margin | -17.9% | -26.9% | -26.8% | 9.0pp | 9.0pp |
| EPS (Diluted) | $-0.21 | $-0.30 | $-0.30 | 30.0% | 30.0% |
| Free Cash Flow | $119M | $151M | $106M | -21.6% | 12.2% |
| Item | Amount |
|---|---|
| REVENUE | $503M |
| Cost of Revenue | $195M |
| GROSS PROFIT | $308M |
| R&D Expenses | $250M |
| Selling & Marketing | $89M |
| General & Administrative | $67M |
| SG&A Expenses | $156M |
| Other Expenses | $0 |
| Operating Expenses | $406M |
| Cost & Expenses | $601M |
| OPERATING INCOME | -$98M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | $783.0K |
| INCOME BEFORE TAX | -$97M |
| Income Tax Expense | -$8M |
| Net Income from Continuing Ops | -$89M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$90M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$90M |
| D&A | $132M |
| EBIT | -$98M |
| EBITDA | $34M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$89M |
| Depreciation & Amortization | $132M |
| Stock-Based Compensation | $93M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$16M |
| OPERATING CASH FLOW | $121M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$3M |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $34M |
| NET CASH FROM FINANCING | $34M |
| FREE CASH FLOW | $119M |
| Net Change in Cash | $155M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.1B |
| Short-Term Investments | $0 |
| Net Receivables | $644M |
| Inventory | $0 |
| Other Current Assets | $113M |
| TOTAL CURRENT ASSETS | $2.8B |
| PP&E (Net) | $68M |
| Goodwill | $3.2B |
| Intangible Assets | $651M |
| Long-Term Investments | $9M |
| Tax Assets | $0 |
| Other Non-Current Assets | $132M |
| TOTAL NON-CURRENT ASSETS | $4.0B |
| TOTAL ASSETS | $6.8B |
| Account Payables | $14M |
| Short-Term Debt | $556M |
| Deferred Revenue | $224M |
| Other Current Liabilities | $602M |
| TOTAL CURRENT LIABILITIES | $1.5B |
| Long-Term Debt | $1.7B |
| Deferred Revenue NC | $14M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $738.0K |
| TOTAL NON-CURRENT LIABILITIES | $1.8B |
| TOTAL LIABILITIES | $3.3B |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $7.4B |
| Retained Earnings | -$4.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.2B |
| Minority Interest | $253M |
| TOTAL EQUITY | $3.5B |
| TOTAL LIABILITIES & EQUITY | $6.8B |
| Total Debt | $2.4B |
| Net Debt | $330M |
