| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.8B | $3.7B | $3.1B | 1.7% | 22.6% |
| Op. Income | $148M | $277M | $341M | -46.6% | -56.6% |
| Gross Margin | 96.0% | 25.5% | 28.6% | 70.5pp | 67.4pp |
| Net Margin | 1.9% | 4.6% | 7.7% | -2.7pp | -5.7pp |
| EPS (Diluted) | $0.62 | $1.42 | $1.84 | -56.3% | -66.3% |
| Free Cash Flow | $7M | -$127M | $53M | 105.5% | -86.8% |
| Item | Amount |
|---|---|
| REVENUE | $3.8B |
| Cost of Revenue | $151M |
| GROSS PROFIT | $3.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $107M |
| General & Administrative | $0 |
| SG&A Expenses | $107M |
| Other Expenses | $3.4B |
| Operating Expenses | $3.5B |
| Cost & Expenses | $3.6B |
| OPERATING INCOME | $148M |
| Interest Income | $23M |
| Interest Expense | $62M |
| Other Income/Expenses | -$37M |
| INCOME BEFORE TAX | $111M |
| Income Tax Expense | $38M |
| Net Income from Continuing Ops | $73M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $73M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $73M |
| D&A | $203M |
| EBIT | $173M |
| EBITDA | $376M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $3.8B |
| Cost of Revenue | $151M |
| GROSS PROFIT | $3.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $107M |
| General & Administrative | $0 |
| SG&A Expenses | $107M |
| Other Expenses | $3.4B |
| Operating Expenses | $3.5B |
| Cost & Expenses | $3.6B |
| OPERATING INCOME | $148M |
| Interest Income | $23M |
| Interest Expense | $62M |
| Other Income/Expenses | -$37M |
| INCOME BEFORE TAX | $111M |
| Income Tax Expense | $38M |
| Net Income from Continuing Ops | $73M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $73M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $73M |
| D&A | $203M |
| EBIT | $173M |
| EBITDA | $376M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $73M |
| Depreciation & Amortization | $203M |
| Stock-Based Compensation | -$19M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $0 |
| Change in Working Capital | -$28M |
| OPERATING CASH FLOW | $229M |
| Capital Expenditure | -$222M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$395M |
| Sales/Maturities of Investments | $282M |
| Other Investing Activities | $86M |
| NET CASH FROM INVESTING | -$249M |
| Net Debt Issuance | $57M |
| Common Stock Repurchased | -$5M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | $54M |
| FREE CASH FLOW | $7M |
| Net Change in Cash | $34M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $806M |
| Short-Term Investments | $1.5B |
| Net Receivables | $586M |
| Inventory | $0 |
| Other Current Assets | $580M |
| TOTAL CURRENT ASSETS | $3.5B |
| PP&E (Net) | $0 |
| Goodwill | $2.7B |
| Intangible Assets | $829M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $13.0B |
| TOTAL NON-CURRENT ASSETS | $16.5B |
| TOTAL ASSETS | $20.0B |
| Account Payables | $322M |
| Short-Term Debt | $519M |
| Deferred Revenue | $1.8B |
| Other Current Liabilities | $2.9B |
| TOTAL CURRENT LIABILITIES | $6.7B |
| Long-Term Debt | $4.5B |
| Deferred Revenue NC | $1.6B |
| Deferred Tax Liabilities | $976M |
| Other Non-Current Liabilities | $1.0B |
| TOTAL NON-CURRENT LIABILITIES | $9.3B |
| TOTAL LIABILITIES | $16.0B |
| Common Stock | $1M |
| Additional Paid-In Capital | $913M |
| Retained Earnings | $5.0B |
| Treasury Stock | -$1.7B |
| Accum. Other Comp. Income | -$223M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.0B |
| TOTAL LIABILITIES & EQUITY | $20.0B |
| Total Debt | $6.5B |
| Net Debt | $5.7B |
