| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $992M | $939M | $883M | 5.6% | 12.3% |
| Op. Income | $139M | $166M | $155M | -16.3% | -10.3% |
| Gross Margin | 71.9% | 73.7% | 75.2% | -1.8pp | -3.3pp |
| Net Margin | 8.2% | 15.3% | 16.8% | -7.2pp | -8.6pp |
| EPS (Diluted) | $0.30 | $0.51 | $0.53 | -41.2% | -43.4% |
| Free Cash Flow | $172M | $272M | $141M | -36.8% | 22.0% |
| Item | Amount |
|---|---|
| REVENUE | $992M |
| Cost of Revenue | $279M |
| GROSS PROFIT | $713M |
| R&D Expenses | $168M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $406M |
| Other Expenses | $0 |
| Operating Expenses | $574M |
| Cost & Expenses | $853M |
| OPERATING INCOME | $139M |
| Interest Income | $12M |
| Interest Expense | $0 |
| Other Income/Expenses | -$30M |
| INCOME BEFORE TAX | $109M |
| Income Tax Expense | $28M |
| Net Income from Continuing Ops | $81M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $81M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $79M |
| D&A | $27M |
| EBIT | $109M |
| EBITDA | $136M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $992M |
| Cost of Revenue | $279M |
| GROSS PROFIT | $713M |
| R&D Expenses | $168M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $406M |
| Other Expenses | $0 |
| Operating Expenses | $574M |
| Cost & Expenses | $853M |
| OPERATING INCOME | $139M |
| Interest Income | $12M |
| Interest Expense | $0 |
| Other Income/Expenses | -$30M |
| INCOME BEFORE TAX | $109M |
| Income Tax Expense | $28M |
| Net Income from Continuing Ops | $81M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $81M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $79M |
| D&A | $27M |
| EBIT | $109M |
| EBITDA | $136M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $81M |
| Depreciation & Amortization | $27M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $32M |
| Other Non-Cash Items | $105M |
| Change in Working Capital | -$61M |
| OPERATING CASH FLOW | $184M |
| Capital Expenditure | -$12M |
| Acquisitions (Net) | -$1M |
| Purchases of Investments | -$50M |
| Sales/Maturities of Investments | $22M |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$45M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$1.1B |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$32M |
| NET CASH FROM FINANCING | -$1.1B |
| FREE CASH FLOW | $172M |
| Net Change in Cash | -$1.8B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $637M |
| Short-Term Investments | $50M |
| Net Receivables | $1.1B |
| Inventory | $0 |
| Other Current Assets | $385M |
| TOTAL CURRENT ASSETS | $2.2B |
| PP&E (Net) | $248M |
| Goodwill | $393M |
| Intangible Assets | $71M |
| Long-Term Investments | $99M |
| Tax Assets | $664M |
| Other Non-Current Assets | $13M |
| TOTAL NON-CURRENT ASSETS | $1.5B |
| TOTAL ASSETS | $3.7B |
| Account Payables | $70M |
| Short-Term Debt | $0 |
| Deferred Revenue | $258M |
| Other Current Liabilities | $190M |
| TOTAL CURRENT LIABILITIES | $917M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $219M |
| TOTAL NON-CURRENT LIABILITIES | $252M |
| TOTAL LIABILITIES | $1.2B |
| Common Stock | $0 |
| Additional Paid-In Capital | $7.0B |
| Retained Earnings | -$4.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.5B |
| TOTAL LIABILITIES & EQUITY | $3.7B |
| Total Debt | $36M |
| Net Debt | -$601M |
