| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $212M | $287M | $180M | -26.2% | 17.5% |
| Op. Income | $3M | $53M | $72M | -94.5% | -95.9% |
| Gross Margin | 65.6% | 68.1% | 43.5% | -2.5pp | 22.1pp |
| Net Margin | 3.9% | 21.5% | 31.3% | -17.6pp | -27.4pp |
| EPS (Diluted) | $1.23 | $8.84 | $7.05 | -86.1% | -82.6% |
| Item | Amount |
|---|---|
| REVENUE | $212M |
| Cost of Revenue | $73M |
| GROSS PROFIT | $139M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $136M |
| Operating Expenses | $136M |
| Cost & Expenses | $209M |
| OPERATING INCOME | $3M |
| Interest Income | $57M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $1 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $0 |
| EBIT | $6M |
| EBITDA | $6M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $212M |
| Cost of Revenue | $73M |
| GROSS PROFIT | $139M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $136M |
| Operating Expenses | $136M |
| Cost & Expenses | $209M |
| OPERATING INCOME | $3M |
| Interest Income | $57M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $1 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $0 |
| EBIT | $6M |
| EBITDA | $6M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $312M |
| Short-Term Investments | $182M |
| Net Receivables | $460M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $954M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $6M |
| Long-Term Investments | $850M |
| Tax Assets | $67M |
| Other Non-Current Assets | $265M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $2.1B |
| Account Payables | $0 |
| Short-Term Debt | $60M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $60M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $68M |
| Deferred Tax Liabilities | $10M |
| Other Non-Current Liabilities | $858M |
| TOTAL NON-CURRENT LIABILITIES | $936M |
| TOTAL LIABILITIES | $996M |
| Common Stock | $30.3K |
| Additional Paid-In Capital | $476M |
| Retained Earnings | $802M |
| Treasury Stock | -$141M |
| Accum. Other Comp. Income | $9M |
| Other Equity | $1 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $2.1B |
| Total Debt | $60M |
| Net Debt | -$252M |
