| Metric | Q4 2019 | Q3 2019 | Q4 2018 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $295M | $257M | $214M | 14.8% | 37.9% |
| Op. Income | $207M | $180M | $155M | 15.0% | 33.5% |
| Gross Margin | 76.3% | 73.9% | 75.7% | 2.3pp | 0.6pp |
| Net Margin | 69.2% | 68.1% | 71.5% | 1.1pp | -2.3pp |
| EPS (Diluted) | $0.48 | $0.41 | $0.36 | 17.1% | 33.3% |
| Free Cash Flow | $124M | $214M | $219M | -42.1% | -43.4% |
| Item | Amount |
|---|---|
| REVENUE | $295M |
| Cost of Revenue | $70M |
| GROSS PROFIT | $225M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $9M |
| Operating Expenses | $18M |
| Cost & Expenses | $88M |
| OPERATING INCOME | $207M |
| Interest Income | $296M |
| Interest Expense | $70M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $207M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $204M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $204M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $204M |
| D&A | $0 |
| EBIT | $207M |
| EBITDA | $207M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $295M |
| Cost of Revenue | $70M |
| GROSS PROFIT | $225M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $9M |
| Operating Expenses | $18M |
| Cost & Expenses | $88M |
| OPERATING INCOME | $207M |
| Interest Income | $296M |
| Interest Expense | $70M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $207M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $204M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $204M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $204M |
| D&A | $0 |
| EBIT | $207M |
| EBITDA | $207M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $204M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$43M |
| Change in Working Capital | -$37M |
| OPERATING CASH FLOW | $124M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1.5B |
| Sales/Maturities of Investments | $1.0B |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$450M |
| Net Debt Issuance | $360M |
| Common Stock Repurchased | -$64M |
| Common Dividends Paid | -$174M |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | $249M |
| FREE CASH FLOW | $124M |
| Net Change in Cash | -$77M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $167M |
| Short-Term Investments | $0 |
| Net Receivables | $131M |
| Inventory | $0 |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $307M |
| PP&E (Net) | $94M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $14.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | $78M |
| TOTAL NON-CURRENT ASSETS | $14.6B |
| TOTAL ASSETS | $14.9B |
| Account Payables | $100M |
| Short-Term Debt | $18M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $335M |
| Long-Term Debt | $7.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $7.1B |
| TOTAL LIABILITIES | $7.4B |
| Common Stock | $0 |
| Additional Paid-In Capital | $7.8B |
| Retained Earnings | -$293M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $7.5B |
| TOTAL LIABILITIES & EQUITY | $14.9B |
| Total Debt | $7.1B |
| Net Debt | $6.9B |
