| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $524M | $505M | $460M | 3.8% | 13.9% |
| Op. Income | -$73M | -$7M | $36M | -884.8% | -301.5% |
| Gross Margin | 67.3% | 68.3% | 68.8% | -1.0pp | -1.5pp |
| Net Margin | -7.7% | -0.1% | 10.4% | -7.6pp | -18.1pp |
| EPS (Diluted) | $-0.73 | $-0.01 | $0.79 | -6786.8% | -192.4% |
| Free Cash Flow | $172M | $145M | $132M | 18.1% | 30.2% |
| Item | Amount |
|---|---|
| REVENUE | $524M |
| Cost of Revenue | $171M |
| GROSS PROFIT | $353M |
| R&D Expenses | $211M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $214M |
| Other Expenses | $0 |
| Operating Expenses | $426M |
| Cost & Expenses | $597M |
| OPERATING INCOME | -$73M |
| Interest Income | $13M |
| Interest Expense | $0 |
| Other Income/Expenses | $11M |
| INCOME BEFORE TAX | -$61M |
| Income Tax Expense | -$21M |
| Net Income from Continuing Ops | -$40M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$40M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$40M |
| D&A | $9M |
| EBIT | -$73M |
| EBITDA | -$64M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$40M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$27M |
| Other Non-Cash Items | $51M |
| Change in Working Capital | $182M |
| OPERATING CASH FLOW | $174M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | -$6M |
| Purchases of Investments | -$703M |
| Sales/Maturities of Investments | $28M |
| Other Investing Activities | -$150.5K |
| NET CASH FROM INVESTING | -$684M |
| Net Debt Issuance | $8M |
| Common Stock Repurchased | -$113M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$105M |
| FREE CASH FLOW | $172M |
| Net Change in Cash | -$582M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $312M |
| Short-Term Investments | $869M |
| Net Receivables | $42M |
| Inventory | $0 |
| Other Current Assets | $96M |
| TOTAL CURRENT ASSETS | $1.3B |
| PP&E (Net) | $513M |
| Goodwill | $0 |
| Intangible Assets | $167M |
| Long-Term Investments | $479M |
| Tax Assets | $95M |
| Other Non-Current Assets | $34M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $2.6B |
| Account Payables | $75M |
| Short-Term Debt | $43M |
| Deferred Revenue | $737M |
| Other Current Liabilities | $147M |
| TOTAL CURRENT LIABILITIES | $1.1B |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $117M |
| Deferred Tax Liabilities | $4M |
| Other Non-Current Liabilities | $200M |
| TOTAL NON-CURRENT LIABILITIES | $1.9B |
| TOTAL LIABILITIES | $3.0B |
| Common Stock | $104.0K |
| Additional Paid-In Capital | $2.1B |
| Retained Earnings | -$851M |
| Treasury Stock | -$1.6B |
| Accum. Other Comp. Income | $18M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$366M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$366M |
| TOTAL LIABILITIES & EQUITY | $2.6B |
| Total Debt | $1.6B |
| Net Debt | $1.3B |
