| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $173M | $162M | $159M | 7.3% | 9.4% |
| Op. Income | -$30M | -$35M | -$14M | 12.3% | -114.3% |
| Gross Margin | 78.9% | 78.2% | 83.6% | 0.7pp | -4.6pp |
| Net Margin | -16.0% | -18.5% | -8.2% | 2.5pp | -7.8pp |
| EPS (Diluted) | $-0.23 | $-0.26 | $-0.12 | 11.5% | -91.7% |
| Free Cash Flow | $21M | $30M | $20M | -31.8% | 4.1% |
| Item | Amount |
|---|---|
| REVENUE | $173M |
| Cost of Revenue | $37M |
| GROSS PROFIT | $137M |
| R&D Expenses | $65M |
| Selling & Marketing | $78M |
| General & Administrative | $24M |
| SG&A Expenses | $102M |
| Other Expenses | $0 |
| Operating Expenses | $167M |
| Cost & Expenses | $204M |
| OPERATING INCOME | -$30M |
| Interest Income | $5M |
| Interest Expense | $0 |
| Other Income/Expenses | $5M |
| INCOME BEFORE TAX | -$25M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$28M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$28M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$28M |
| D&A | $4M |
| EBIT | -$25M |
| EBITDA | -$20M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$28M |
| Depreciation & Amortization | $18M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $36M |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | $25M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$94M |
| Sales/Maturities of Investments | $135M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $36M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$15M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$479.0K |
| NET CASH FROM FINANCING | -$15M |
| FREE CASH FLOW | $21M |
| Net Change in Cash | $45M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $202M |
| Short-Term Investments | $718M |
| Net Receivables | $243M |
| Inventory | $0 |
| Other Current Assets | $135M |
| TOTAL CURRENT ASSETS | $1.3B |
| PP&E (Net) | $94M |
| Goodwill | $135M |
| Intangible Assets | $17M |
| Long-Term Investments | $187M |
| Tax Assets | $0 |
| Other Non-Current Assets | $60M |
| TOTAL NON-CURRENT ASSETS | $493M |
| TOTAL ASSETS | $1.8B |
| Account Payables | $6M |
| Short-Term Debt | $0 |
| Deferred Revenue | $428M |
| Other Current Liabilities | $225M |
| TOTAL CURRENT LIABILITIES | $659M |
| Long-Term Debt | $512M |
| Deferred Revenue NC | $14M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$52M |
| TOTAL NON-CURRENT LIABILITIES | $534M |
| TOTAL LIABILITIES | $1.2B |
| Common Stock | $118.0K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$869M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $23M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $599M |
| Minority Interest | $0 |
| TOTAL EQUITY | $599M |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $572M |
| Net Debt | $369M |
