| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $291M | $239M | $279M | 21.8% | 4.4% |
| Op. Income | $26M | $12M | $20M | 115.0% | 31.1% |
| Gross Margin | 38.2% | 37.6% | 36.2% | 0.7pp | 2.0pp |
| Net Margin | 6.7% | 3.8% | 5.3% | 2.9pp | 1.4pp |
| EPS (Diluted) | $1.16 | $0.55 | $0.78 | 110.9% | 48.7% |
| Free Cash Flow | $55M | $5M | $50M | 1033.1% | 9.8% |
| Item | Amount |
|---|---|
| REVENUE | $291M |
| Cost of Revenue | $180M |
| GROSS PROFIT | $111M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $86M |
| Other Expenses | -$550.0K |
| Operating Expenses | $86M |
| Cost & Expenses | $266M |
| OPERATING INCOME | $26M |
| Interest Income | -$4M |
| Interest Expense | $0 |
| Other Income/Expenses | $152.0K |
| INCOME BEFORE TAX | $27M |
| Income Tax Expense | $7M |
| 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 | $5M |
| EBIT | $26M |
| EBITDA | $32M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $291M |
| Cost of Revenue | $180M |
| GROSS PROFIT | $111M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $86M |
| Other Expenses | -$550.0K |
| Operating Expenses | $86M |
| Cost & Expenses | $266M |
| OPERATING INCOME | $26M |
| Interest Income | -$4M |
| Interest Expense | $0 |
| Other Income/Expenses | $152.0K |
| INCOME BEFORE TAX | $27M |
| Income Tax Expense | $7M |
| 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 | $5M |
| EBIT | $26M |
| EBITDA | $32M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $20M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $737.0K |
| Other Non-Cash Items | $16M |
| Change in Working Capital | $14M |
| OPERATING CASH FLOW | $58M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$11M |
| Sales/Maturities of Investments | $3M |
| Other Investing Activities | -$447.0K |
| NET CASH FROM INVESTING | -$11M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $192.0K |
| NET CASH FROM FINANCING | $390.0K |
| FREE CASH FLOW | $55M |
| Net Change in Cash | $48M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $128M |
| Short-Term Investments | $33M |
| Net Receivables | $14M |
| Inventory | $147M |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $336M |
| PP&E (Net) | $258M |
| Goodwill | $16M |
| Intangible Assets | $16M |
| Long-Term Investments | $0 |
| Tax Assets | $6M |
| Other Non-Current Assets | $68M |
| TOTAL NON-CURRENT ASSETS | $364M |
| TOTAL ASSETS | $700M |
| Account Payables | $49M |
| Short-Term Debt | $54M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $55M |
| TOTAL CURRENT LIABILITIES | $168M |
| Long-Term Debt | $145M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $56M |
| Other Non-Current Liabilities | $7M |
| TOTAL NON-CURRENT LIABILITIES | $208M |
| TOTAL LIABILITIES | $376M |
| Common Stock | $212M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $124M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$11M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $324M |
| Minority Interest | $0 |
| TOTAL EQUITY | $324M |
| TOTAL LIABILITIES & EQUITY | $700M |
| Total Debt | $199M |
| Net Debt | $71M |
