| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $304M | $269M | $244M | 13.0% | 24.3% |
| Op. Income | $76M | $60M | $53M | 26.0% | 42.8% |
| Gross Margin | 56.2% | 68.3% | 67.4% | -12.2pp | -11.3pp |
| Net Margin | 6.6% | 11.4% | 7.8% | -4.8pp | -1.2pp |
| EPS (Diluted) | $0.10 | $0.17 | $0.11 | -41.2% | -9.1% |
| Free Cash Flow | $57M | $76M | $59M | -24.9% | -2.3% |
| Item | Amount |
|---|---|
| REVENUE | $304M |
| Cost of Revenue | $133M |
| GROSS PROFIT | $170M |
| R&D Expenses | $19M |
| Selling & Marketing | $49M |
| General & Administrative | $44M |
| SG&A Expenses | $93M |
| Other Expenses | -$17M |
| Operating Expenses | $95M |
| Cost & Expenses | $228M |
| OPERATING INCOME | $76M |
| Interest Income | $0 |
| Interest Expense | $25M |
| Other Income/Expenses | -$40M |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $20M |
| D&A | $40M |
| EBIT | $76M |
| EBITDA | $116M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $304M |
| Cost of Revenue | $133M |
| GROSS PROFIT | $170M |
| R&D Expenses | $19M |
| Selling & Marketing | $49M |
| General & Administrative | $44M |
| SG&A Expenses | $93M |
| Other Expenses | -$17M |
| Operating Expenses | $95M |
| Cost & Expenses | $228M |
| OPERATING INCOME | $76M |
| Interest Income | $0 |
| Interest Expense | $25M |
| Other Income/Expenses | -$40M |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $20M |
| D&A | $40M |
| EBIT | $76M |
| EBITDA | $116M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $20M |
| Depreciation & Amortization | $40M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $22M |
| Other Non-Cash Items | $15M |
| Change in Working Capital | -$31M |
| OPERATING CASH FLOW | $67M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | -$630M |
| Purchases of Investments | -$25M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$664M |
| Net Debt Issuance | $234M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$9M |
| NET CASH FROM FINANCING | $229M |
| FREE CASH FLOW | $57M |
| Net Change in Cash | -$369M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $77M |
| Short-Term Investments | $25M |
| Net Receivables | $183M |
| Inventory | $0 |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $308M |
| PP&E (Net) | $65M |
| Goodwill | $4.0B |
| Intangible Assets | $1.3B |
| Long-Term Investments | $0 |
| Tax Assets | $169M |
| Other Non-Current Assets | $102M |
| TOTAL NON-CURRENT ASSETS | $5.6B |
| TOTAL ASSETS | $6.0B |
| Account Payables | $51M |
| Short-Term Debt | $20M |
| Deferred Revenue | $68M |
| Other Current Liabilities | $74M |
| TOTAL CURRENT LIABILITIES | $218M |
| Long-Term Debt | $1.5B |
| Deferred Revenue NC | $5M |
| Deferred Tax Liabilities | $380M |
| Other Non-Current Liabilities | -$11M |
| TOTAL NON-CURRENT LIABILITIES | $1.9B |
| TOTAL LIABILITIES | $2.1B |
| Common Stock | $2M |
| Additional Paid-In Capital | $4.0B |
| Retained Earnings | -$109M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$632.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.9B |
| TOTAL LIABILITIES & EQUITY | $6.0B |
| Total Debt | $1.5B |
| Net Debt | $1.4B |
