North highlighted operating leverage in the quarter, noting operating expenses excluding cost of revenue were $63 million, or 50% of revenue, down from 54% a year earlier. Operating income for the quarter was $31 million, or 25% of revenue. For the full year, operating expenses excluding cost of revenue were $201 million, or 46% of revenue, compared with 48% in 2024, with operating income of $126 million (29% of revenue).North said revenue exceeded the company’s increased full-year guidance issued in Novemb ...