FY 2025 Earnings

Reported December 30, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$565M	—	$405M	—	39.6%
Op. Income	$53M	—	$26M	—	102.5%
Gross Margin	51.1%	—	52.6%	—	-1.4pp
Net Margin	14.3%	—	13.3%	—	1.0pp
EPS (Diluted)	$2.15	—	$0.15	—	1370.0%

Revenue Flow

Item	Amount
REVENUE	$565M
Cost of Revenue	$276M
GROSS PROFIT	$289M
R&D Expenses	$33M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$203M
Other Expenses	$0
Operating Expenses	$236M
Cost & Expenses	$513M
OPERATING INCOME	$53M
Interest Income	$19M
Interest Expense	$0
Other Income/Expenses	$25M
INCOME BEFORE TAX	$77M
Income Tax Expense	-$3M
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$2
NET INCOME	$81M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$81M
D&A	$0
EBIT	$53M
EBITDA	$53M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$565M
Cost of Revenue	$276M
GROSS PROFIT	$289M
R&D Expenses	$33M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$203M
Other Expenses	$0
Operating Expenses	$236M
Cost & Expenses	$513M
OPERATING INCOME	$53M
Interest Income	$19M
Interest Expense	$0
Other Income/Expenses	$25M
INCOME BEFORE TAX	$77M
Income Tax Expense	-$3M
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$2
NET INCOME	$81M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$81M
D&A	$0
EBIT	$53M
EBITDA	$53M
EPS	$2
EPS Diluted	$2

Balance Sheet

Item	Amount
Cash & Equivalents	$165M
Short-Term Investments	$78M
Net Receivables	$302M
Inventory	$0
Other Current Assets	$37M
TOTAL CURRENT ASSETS	$582M
PP&E (Net)	$41M
Goodwill	$12M
Intangible Assets	$26M
Long-Term Investments	$377M
Tax Assets	$419.6K
Other Non-Current Assets	$1
TOTAL NON-CURRENT ASSETS	$456M
TOTAL ASSETS	$1.0B
Account Payables	$0
Short-Term Debt	$8M
Deferred Revenue	$0
Other Current Liabilities	$268M
TOTAL CURRENT LIABILITIES	$277M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$6M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$8M
TOTAL LIABILITIES	$285M
Common Stock	$20.9K
Additional Paid-In Capital	$985M
Retained Earnings	-$238M
Treasury Stock	-$2.3K
Accum. Other Comp. Income	$6M
Other Equity	$1
TOTAL STOCKHOLDERS' EQUITY	$753M
Minority Interest	$0
TOTAL EQUITY	$753M
TOTAL LIABILITIES & EQUITY	$1.0B
Total Debt	$10M
Net Debt	-$155M