| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $189M | $215M | $232M | -12.1% | -18.6% |
| Op. Income | $16M | $47M | $51M | -66.0% | -68.4% |
| Gross Margin | 151.5% | 54.1% | 54.3% | 97.4pp | 97.2pp |
| Net Margin | 18.7% | 14.8% | 14.3% | 3.9pp | 4.4pp |
| EPS (Diluted) | $5.17 | $4.65 | $4.66 | 11.2% | 10.9% |
| Free Cash Flow | -$241M | $107M | -$105M | -326.0% | -130.6% |
| Item | Amount |
|---|---|
| REVENUE | $189M |
| Cost of Revenue | -$97M |
| GROSS PROFIT | $286M |
| R&D Expenses | $0 |
| Selling & Marketing | $22M |
| General & Administrative | $18M |
| SG&A Expenses | $40M |
| Other Expenses | $230M |
| Operating Expenses | $270M |
| Cost & Expenses | $173M |
| OPERATING INCOME | $16M |
| Interest Income | $53M |
| Interest Expense | $47M |
| Other Income/Expenses | $31M |
| INCOME BEFORE TAX | $47M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | $34M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $35M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $35M |
| D&A | $12M |
| EBIT | $94M |
| EBITDA | $106M |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| REVENUE | $189M |
| Cost of Revenue | -$97M |
| GROSS PROFIT | $286M |
| R&D Expenses | $0 |
| Selling & Marketing | $22M |
| General & Administrative | $18M |
| SG&A Expenses | $40M |
| Other Expenses | $230M |
| Operating Expenses | $270M |
| Cost & Expenses | $173M |
| OPERATING INCOME | $16M |
| Interest Income | $53M |
| Interest Expense | $47M |
| Other Income/Expenses | $31M |
| INCOME BEFORE TAX | $47M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | $34M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $35M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $35M |
| D&A | $12M |
| EBIT | $94M |
| EBITDA | $106M |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| Net Income | $34M |
| Depreciation & Amortization | $16M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | -$353M |
| Change in Working Capital | $49M |
| OPERATING CASH FLOW | -$247M |
| Capital Expenditure | $6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$459M |
| Sales/Maturities of Investments | $63M |
| Other Investing Activities | $348M |
| NET CASH FROM INVESTING | -$42M |
| Net Debt Issuance | $340M |
| Common Stock Repurchased | -$10M |
| Common Dividends Paid | -$16M |
| Other Financing Activities | -$9M |
| NET CASH FROM FINANCING | $305M |
| FREE CASH FLOW | -$241M |
| Net Change in Cash | $16M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $477M |
| Short-Term Investments | $0 |
| Net Receivables | $103M |
| Inventory | $0 |
| Other Current Assets | $1M |
| TOTAL CURRENT ASSETS | $581M |
| PP&E (Net) | $97M |
| Goodwill | $397M |
| Intangible Assets | $327M |
| Long-Term Investments | $2.8B |
| Tax Assets | $19M |
| Other Non-Current Assets | $99M |
| TOTAL NON-CURRENT ASSETS | $3.7B |
| TOTAL ASSETS | $4.3B |
| Account Payables | $55M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $153M |
| Long-Term Debt | $2.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $258M |
| TOTAL NON-CURRENT LIABILITIES | $3.1B |
| TOTAL LIABILITIES | $3.3B |
| Common Stock | $123.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | $341M |
| Treasury Stock | -$750M |
| Accum. Other Comp. Income | $462.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $934M |
| Minority Interest | $104M |
| TOTAL EQUITY | $1.0B |
| TOTAL LIABILITIES & EQUITY | $4.3B |
| Total Debt | $2.8B |
| Net Debt | $2.4B |
