| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $479M | $462M | $480M | 3.8% | -0.2% |
| Op. Income | $156M | $148M | $144M | 5.2% | 7.9% |
| Gross Margin | 63.0% | 62.8% | 58.5% | 0.2pp | 4.5pp |
| Net Margin | 23.1% | 22.8% | 21.8% | 0.3pp | 1.3pp |
| EPS (Diluted) | $1.92 | $1.81 | $1.80 | 6.1% | 6.7% |
| Free Cash Flow | $162M | $65M | $33M | 148.1% | 385.5% |
| Item | Amount |
|---|---|
| REVENUE | $479M |
| Cost of Revenue | $177M |
| GROSS PROFIT | $302M |
| R&D Expenses | $0 |
| Selling & Marketing | $11M |
| General & Administrative | $92M |
| SG&A Expenses | $103M |
| Other Expenses | $43M |
| Operating Expenses | $146M |
| Cost & Expenses | $324M |
| OPERATING INCOME | $156M |
| Interest Income | $442M |
| Interest Expense | $162M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $156M |
| Income Tax Expense | $45M |
| Net Income from Continuing Ops | $111M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $111M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $111M |
| D&A | $8M |
| EBIT | $156M |
| EBITDA | $163M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $479M |
| Cost of Revenue | $177M |
| GROSS PROFIT | $302M |
| R&D Expenses | $0 |
| Selling & Marketing | $11M |
| General & Administrative | $92M |
| SG&A Expenses | $103M |
| Other Expenses | $43M |
| Operating Expenses | $146M |
| Cost & Expenses | $324M |
| OPERATING INCOME | $156M |
| Interest Income | $442M |
| Interest Expense | $162M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $156M |
| Income Tax Expense | $45M |
| Net Income from Continuing Ops | $111M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $111M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $111M |
| D&A | $8M |
| EBIT | $156M |
| EBITDA | $163M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $111M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $11M |
| Deferred Income Tax | -$13M |
| Other Non-Cash Items | -$16M |
| Change in Working Capital | $83M |
| OPERATING CASH FLOW | $183M |
| Capital Expenditure | -$22M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$7M |
| Sales/Maturities of Investments | $15M |
| Other Investing Activities | -$835M |
| NET CASH FROM INVESTING | -$849M |
| Net Debt Issuance | -$65M |
| Common Stock Repurchased | -$32M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $681M |
| NET CASH FROM FINANCING | $584M |
| FREE CASH FLOW | $162M |
| Net Change in Cash | -$81M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.9B |
| Short-Term Investments | $66M |
| Net Receivables | $374M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $2.4B |
| PP&E (Net) | $0 |
| Goodwill | $98M |
| Intangible Assets | $64M |
| Long-Term Investments | $21.1B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.2B |
| TOTAL NON-CURRENT ASSETS | $22.4B |
| TOTAL ASSETS | $24.8B |
| Account Payables | $351M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $20.8B |
| TOTAL CURRENT LIABILITIES | $21.2B |
| Long-Term Debt | $373M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $550M |
| TOTAL NON-CURRENT LIABILITIES | $922M |
| TOTAL LIABILITIES | $22.1B |
| Common Stock | $711.0K |
| Additional Paid-In Capital | $549M |
| Retained Earnings | $2.6B |
| Treasury Stock | -$488M |
| Accum. Other Comp. Income | $348.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.7B |
| TOTAL LIABILITIES & EQUITY | $24.8B |
| Total Debt | $373M |
| Net Debt | -$1.6B |
