| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $26M | $33M | $38M | -21.7% | -30.5% |
| Op. Income | $12M | $3M | $10M | 256.9% | 15.7% |
| Gross Margin | 96.9% | 53.9% | 58.8% | 43.1pp | 38.2pp |
| Net Margin | 35.7% | 4.1% | 20.3% | 31.6pp | 15.4pp |
| EPS (Diluted) | $0.51 | $0.07 | $0.38 | 628.6% | 34.2% |
| Item | Amount |
|---|---|
| REVENUE | $26M |
| Cost of Revenue | $801.0K |
| GROSS PROFIT | $25M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $14M |
| SG&A Expenses | $14M |
| Other Expenses | $0 |
| Operating Expenses | $14M |
| Cost & Expenses | $15M |
| OPERATING INCOME | $12M |
| Interest Income | $37M |
| Interest Expense | $15M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $12M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $9M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $9M |
| D&A | $0 |
| EBIT | $12M |
| EBITDA | $12M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $26M |
| Cost of Revenue | $801.0K |
| GROSS PROFIT | $25M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $14M |
| SG&A Expenses | $14M |
| Other Expenses | $0 |
| Operating Expenses | $14M |
| Cost & Expenses | $15M |
| OPERATING INCOME | $12M |
| Interest Income | $37M |
| Interest Expense | $15M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $12M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $9M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $9M |
| D&A | $0 |
| EBIT | $12M |
| EBITDA | $12M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $79M |
| Short-Term Investments | $277M |
| Net Receivables | $2.2B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $2.6B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $150M |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $150M |
| TOTAL ASSETS | $2.8B |
| Account Payables | $0 |
| Short-Term Debt | $53M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.5B |
| TOTAL CURRENT LIABILITIES | $2.5B |
| Long-Term Debt | $39M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $37M |
| TOTAL NON-CURRENT LIABILITIES | $76M |
| TOTAL LIABILITIES | $2.6B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $223M |
| TOTAL STOCKHOLDERS' EQUITY | $223M |
| Minority Interest | $0 |
| TOTAL EQUITY | $223M |
| TOTAL LIABILITIES & EQUITY | $2.8B |
| Total Debt | $92M |
| Net Debt | $13M |
