| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $88M | $102M | $80M | -13.8% | 9.8% |
| Op. Income | $36M | $46M | $31M | -22.2% | 15.8% |
| Gross Margin | 48.0% | 51.2% | 44.3% | -3.2pp | 3.7pp |
| Net Margin | 34.7% | 38.0% | 33.7% | -3.3pp | 1.0pp |
| EPS (Diluted) | $1.06 | $1.35 | $0.94 | -21.5% | 12.8% |
| Free Cash Flow | $26M | $31M | $28M | -18.0% | -6.9% |
| Item | Amount |
|---|---|
| REVENUE | $88M |
| Cost of Revenue | $46M |
| GROSS PROFIT | $42M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $6M |
| Other Expenses | $0 |
| Operating Expenses | $6M |
| Cost & Expenses | $52M |
| OPERATING INCOME | $36M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | $40M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | $31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $0 |
| EBIT | $40M |
| EBITDA | $40M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $88M |
| Cost of Revenue | $46M |
| GROSS PROFIT | $42M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $6M |
| Other Expenses | $0 |
| Operating Expenses | $6M |
| Cost & Expenses | $52M |
| OPERATING INCOME | $36M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | $40M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | $31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $0 |
| EBIT | $40M |
| EBITDA | $40M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $31M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$415.0K |
| Other Non-Cash Items | $2M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | $46M |
| Capital Expenditure | -$20M |
| Acquisitions (Net) | -$71.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$20M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$2M |
| Common Dividends Paid | -$2M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$4M |
| FREE CASH FLOW | $26M |
| Net Change in Cash | $22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $371M |
| Short-Term Investments | $0 |
| Net Receivables | $48M |
| Inventory | $31M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $455M |
| PP&E (Net) | $225M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $2M |
| Other Non-Current Assets | $443.0K |
| TOTAL NON-CURRENT ASSETS | $227M |
| TOTAL ASSETS | $683M |
| Account Payables | $15M |
| Short-Term Debt | $2M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $24M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $25M |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $28M |
| TOTAL LIABILITIES | $52M |
| Common Stock | $3M |
| Additional Paid-In Capital | $49M |
| Retained Earnings | $643M |
| Treasury Stock | -$64M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $631M |
| Minority Interest | $0 |
| TOTAL EQUITY | $631M |
| TOTAL LIABILITIES & EQUITY | $683M |
| Total Debt | $4M |
| Net Debt | -$367M |
