| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $61M | $58M | $55M | 5.1% | 11.5% |
| Op. Income | $11M | $7M | $8M | 54.4% | 37.7% |
| Gross Margin | 42.7% | 42.3% | 35.6% | 0.5pp | 7.1pp |
| Net Margin | 13.2% | 6.5% | 10.8% | 6.7pp | 2.4pp |
| EPS (Diluted) | $0.26 | $0.12 | $0.20 | 118.8% | 25.0% |
| Free Cash Flow | -$45M | $36M | -$66M | -224.5% | 32.5% |
| Item | Amount |
|---|---|
| REVENUE | $61M |
| Cost of Revenue | $35M |
| GROSS PROFIT | $26M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $6M |
| Operating Expenses | $15M |
| Cost & Expenses | $50M |
| OPERATING INCOME | $11M |
| Interest Income | $59M |
| Interest Expense | $35M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $11M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $687.3K |
| EBIT | $11M |
| EBITDA | $12M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $61M |
| Cost of Revenue | $35M |
| GROSS PROFIT | $26M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $6M |
| Operating Expenses | $15M |
| Cost & Expenses | $50M |
| OPERATING INCOME | $11M |
| Interest Income | $59M |
| Interest Expense | $35M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $11M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $687.3K |
| EBIT | $11M |
| EBITDA | $12M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $8M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $86M |
| Change in Working Capital | -$53M |
| OPERATING CASH FLOW | -$45M |
| Capital Expenditure | -$124.4K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$15M |
| Sales/Maturities of Investments | $757.5K |
| Other Investing Activities | $6M |
| NET CASH FROM INVESTING | -$9M |
| Net Debt Issuance | -$149.1K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$584.8K |
| Other Financing Activities | -$1.3K |
| NET CASH FROM FINANCING | $706.7K |
| FREE CASH FLOW | -$45M |
| Net Change in Cash | $34M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $460M |
| Short-Term Investments | $74M |
| Net Receivables | $18M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $478M |
| PP&E (Net) | $20M |
| Goodwill | $9M |
| Intangible Assets | $7M |
| Long-Term Investments | $3.9B |
| Tax Assets | $2M |
| Other Non-Current Assets | $103M |
| TOTAL NON-CURRENT ASSETS | $4.0B |
| TOTAL ASSETS | $4.5B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $3.8B |
| TOTAL CURRENT LIABILITIES | $3.8B |
| Long-Term Debt | $73M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $35.9K |
| Other Non-Current Liabilities | $4.0B |
| TOTAL NON-CURRENT LIABILITIES | $4.1B |
| TOTAL LIABILITIES | $4.1B |
| Common Stock | $240M |
| Additional Paid-In Capital | $1M |
| Retained Earnings | $157M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$933.2K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $397M |
| Minority Interest | $0 |
| TOTAL EQUITY | $397M |
| TOTAL LIABILITIES & EQUITY | $4.5B |
| Total Debt | $76M |
| Net Debt | -$384M |
