| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $446M | $567M | $639M | -21.3% | -30.2% |
| Op. Income | $248M | $370M | $456M | -33.0% | -45.6% |
| Gross Margin | 61.4% | 69.3% | 77.5% | -7.9pp | -16.0pp |
| Net Margin | 54.0% | 63.0% | 70.3% | -8.9pp | -16.2pp |
| EPS (Diluted) | $0.36 | $0.55 | $0.76 | -34.5% | -52.6% |
| Free Cash Flow | $182M | $410M | $221M | -55.6% | -17.6% |
| Item | Amount |
|---|---|
| REVENUE | $446M |
| Cost of Revenue | $172M |
| GROSS PROFIT | $274M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $14M |
| Operating Expenses | $26M |
| Cost & Expenses | $198M |
| OPERATING INCOME | $248M |
| Interest Income | $526M |
| Interest Expense | $172M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $248M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $241M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $241M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $241M |
| D&A | $0 |
| EBIT | $248M |
| EBITDA | $248M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $446M |
| Cost of Revenue | $172M |
| GROSS PROFIT | $274M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $14M |
| Operating Expenses | $26M |
| Cost & Expenses | $198M |
| OPERATING INCOME | $248M |
| Interest Income | $526M |
| Interest Expense | $172M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $248M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $241M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $241M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $241M |
| D&A | $0 |
| EBIT | $248M |
| EBITDA | $248M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $241M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $70M |
| Change in Working Capital | -$129M |
| OPERATING CASH FLOW | $182M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$3.0B |
| Sales/Maturities of Investments | $2.5B |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$481M |
| Net Debt Issuance | $116M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$308M |
| Other Financing Activities | -$11M |
| NET CASH FROM FINANCING | $181M |
| FREE CASH FLOW | $182M |
| Net Change in Cash | -$118M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $647M |
| Short-Term Investments | $0 |
| Net Receivables | $272M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $919M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $27.4B |
| TOTAL NON-CURRENT ASSETS | $27.4B |
| TOTAL ASSETS | $28.3B |
| Account Payables | $140M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $140M |
| Long-Term Debt | $13.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $583M |
| TOTAL NON-CURRENT LIABILITIES | $14.5B |
| TOTAL LIABILITIES | $14.6B |
| Common Stock | $1M |
| Additional Paid-In Capital | $12.9B |
| Retained Earnings | $765M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $13.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $13.7B |
| TOTAL LIABILITIES & EQUITY | $28.3B |
| Total Debt | $13.9B |
| Net Debt | $13.3B |
