| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $104M | $72M | $15M | 44.0% | 586.5% |
| Op. Income | $55M | -$8M | -$11M | 809.6% | 582.3% |
| Gross Margin | 78.2% | 100.0% | 100.0% | -21.8pp | -21.8pp |
| Net Margin | 52.8% | -11.2% | -78.9% | 64.0pp | 131.7pp |
| EPS (Diluted) | $0.23 | $-0.04 | $-0.05 | 675.0% | 537.3% |
| Free Cash Flow | $31M | $2M | -$7M | 1137.4% | 515.0% |
| Item | Amount |
|---|---|
| REVENUE | $104M |
| Cost of Revenue | $23M |
| GROSS PROFIT | $81M |
| R&D Expenses | $45M |
| Selling & Marketing | $0 |
| General & Administrative | $4M |
| SG&A Expenses | $4M |
| Other Expenses | $0 |
| Operating Expenses | $49M |
| Cost & Expenses | $49M |
| OPERATING INCOME | $55M |
| Interest Income | -$1M |
| Interest Expense | -$2M |
| Other Income/Expenses | -$34.0K |
| INCOME BEFORE TAX | $55M |
| Income Tax Expense | $344.0K |
| Net Income from Continuing Ops | $55M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $55M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $55M |
| D&A | $2M |
| EBIT | $56M |
| EBITDA | $58M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $104M |
| Cost of Revenue | $23M |
| GROSS PROFIT | $81M |
| R&D Expenses | $45M |
| Selling & Marketing | $0 |
| General & Administrative | $4M |
| SG&A Expenses | $4M |
| Other Expenses | $0 |
| Operating Expenses | $49M |
| Cost & Expenses | $49M |
| OPERATING INCOME | $55M |
| Interest Income | -$1M |
| Interest Expense | -$2M |
| Other Income/Expenses | -$34.0K |
| INCOME BEFORE TAX | $55M |
| Income Tax Expense | $344.0K |
| Net Income from Continuing Ops | $55M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $55M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $55M |
| D&A | $2M |
| EBIT | $56M |
| EBITDA | $58M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $55M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$823.0K |
| Change in Working Capital | -$28M |
| OPERATING CASH FLOW | $31M |
| Capital Expenditure | -$1.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $191.0K |
| Sales/Maturities of Investments | $6M |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | $2M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$21.0K |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | $31M |
| Net Change in Cash | $37M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $54M |
| Short-Term Investments | $10M |
| Net Receivables | $51M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $115M |
| PP&E (Net) | $26M |
| Goodwill | $5M |
| Intangible Assets | $3M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $33M |
| TOTAL ASSETS | $186M |
| Account Payables | $21M |
| Short-Term Debt | $3M |
| Deferred Revenue | $68.0K |
| Other Current Liabilities | -$50M |
| TOTAL CURRENT LIABILITIES | $22M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $2M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $12M |
| TOTAL LIABILITIES | $98M |
| Common Stock | $24.0K |
| Additional Paid-In Capital | $548M |
| Retained Earnings | -$460M |
| Treasury Stock | -$159.0K |
| Accum. Other Comp. Income | -$3.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $88M |
| Minority Interest | $0 |
| TOTAL EQUITY | $88M |
| TOTAL LIABILITIES & EQUITY | $186M |
| Total Debt | $9M |
| Net Debt | -$45M |
