| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $557M | $349M | $309M | 59.5% | 80.3% |
| Op. Income | $0 | $164M | $130M | -100.0% | -100.0% |
| Net Margin | 22.4% | 31.9% | 28.5% | -9.5pp | -6.1pp |
| EPS (Diluted) | $0.73 | $0.65 | $0.58 | 12.3% | 25.9% |
| Free Cash Flow | $158M | $141M | $125M | 11.7% | 26.2% |
| Item | Amount |
|---|---|
| REVENUE | $557M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $0 |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | $0 |
| OPERATING INCOME | $0 |
| Interest Income | $0 |
| Interest Expense | $251M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $154M |
| Income Tax Expense | $30M |
| Net Income from Continuing Ops | $125M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $125M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $125M |
| D&A | $14M |
| EBIT | $406M |
| EBITDA | $420M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $125M |
| Depreciation & Amortization | $14M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$17M |
| Change in Working Capital | $34M |
| OPERATING CASH FLOW | $158M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$485M |
| NET CASH FROM INVESTING | -$485M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $6M |
| Common Dividends Paid | -$39M |
| Other Financing Activities | $398M |
| NET CASH FROM FINANCING | $360M |
| FREE CASH FLOW | $158M |
| Net Change in Cash | $33M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $490M |
| Short-Term Investments | $5.2B |
| Net Receivables | $168M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $5.9B |
| PP&E (Net) | $384M |
| Goodwill | $1.1B |
| Intangible Assets | $25M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $1.5B |
| TOTAL ASSETS | $44.5B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $39.6B |
| Common Stock | $2M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $3.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$16M |
| Other Equity | $1.6B |
| TOTAL STOCKHOLDERS' EQUITY | $4.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.7B |
| TOTAL LIABILITIES & EQUITY | $44.5B |
| Total Debt | $0 |
| Net Debt | -$490M |
