| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.4B | — | $1.1B | — | 33.2% |
| Op. Income | $918M | — | $765M | — | 20.0% |
| Gross Margin | 95.2% | — | 74.0% | — | 21.2pp |
| Net Margin | 40.2% | — | 64.7% | — | -24.6pp |
| EPS (Diluted) | $0.35 | — | $0.43 | — | -18.6% |
| Free Cash Flow | $0 | — | $384M | — | -100.0% |
| Item | Amount |
|---|---|
| REVENUE | $1.4B |
| Cost of Revenue | $68M |
| GROSS PROFIT | $1.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $430M |
| Operating Expenses | $430M |
| Cost & Expenses | $498M |
| OPERATING INCOME | $918M |
| Interest Income | $160M |
| Interest Expense | $0 |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | $928M |
| Income Tax Expense | $304M |
| Net Income from Continuing Ops | $624M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $569M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $569M |
| D&A | $24M |
| EBIT | $928M |
| EBITDA | $952M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $1.4B |
| Cost of Revenue | $68M |
| GROSS PROFIT | $1.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $430M |
| Operating Expenses | $430M |
| Cost & Expenses | $498M |
| OPERATING INCOME | $918M |
| Interest Income | $160M |
| Interest Expense | $0 |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | $928M |
| Income Tax Expense | $304M |
| Net Income from Continuing Ops | $624M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $569M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $569M |
| D&A | $24M |
| EBIT | $928M |
| EBITDA | $952M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $569M |
| Depreciation & Amortization | $24M |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$601M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $0 |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | $0 |
| Net Change in Cash | $519M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.6B |
| Short-Term Investments | $0 |
| Net Receivables | $730M |
| Inventory | $0 |
| Other Current Assets | $2.7B |
| TOTAL CURRENT ASSETS | $5.0B |
| PP&E (Net) | $0 |
| Goodwill | $236M |
| Intangible Assets | $234M |
| Long-Term Investments | $10.3B |
| Tax Assets | $1.1B |
| Other Non-Current Assets | $328M |
| TOTAL NON-CURRENT ASSETS | $12.3B |
| TOTAL ASSETS | $17.2B |
| Account Payables | $2.9B |
| Short-Term Debt | $1.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$3.6B |
| TOTAL CURRENT LIABILITIES | $1.2B |
| Long-Term Debt | $2.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $365M |
| Other Non-Current Liabilities | $2.9B |
| TOTAL NON-CURRENT LIABILITIES | $5.7B |
| TOTAL LIABILITIES | $6.9B |
| Common Stock | $8.9B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $8.9B |
| Minority Interest | $1.4B |
| TOTAL EQUITY | $10.3B |
| TOTAL LIABILITIES & EQUITY | $17.2B |
| Total Debt | $3.7B |
| Net Debt | $2.1B |
