| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $355M | $338M | $360M | 5.0% | -1.3% |
| Op. Income | $94M | $96M | $78M | -2.6% | 20.0% |
| Gross Margin | 51.2% | 54.8% | 48.6% | -3.6pp | 2.6pp |
| Net Margin | 21.9% | 22.9% | 18.8% | -1.0pp | 3.1pp |
| EPS (Diluted) | $1.13 | $1.10 | $0.94 | 2.7% | 20.2% |
| Free Cash Flow | $150M | $63M | $80M | 139.4% | 87.5% |
| Item | Amount |
|---|---|
| REVENUE | $355M |
| Cost of Revenue | $173M |
| GROSS PROFIT | $182M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $46M |
| SG&A Expenses | $48M |
| Other Expenses | $40M |
| Operating Expenses | $88M |
| Cost & Expenses | $261M |
| OPERATING INCOME | $94M |
| Interest Income | $334M |
| Interest Expense | $145M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $94M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $78M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $78M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $78M |
| D&A | $4M |
| EBIT | $94M |
| EBITDA | $98M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $355M |
| Cost of Revenue | $173M |
| GROSS PROFIT | $182M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $46M |
| SG&A Expenses | $48M |
| Other Expenses | $40M |
| Operating Expenses | $88M |
| Cost & Expenses | $261M |
| OPERATING INCOME | $94M |
| Interest Income | $334M |
| Interest Expense | $145M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $94M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $78M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $78M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $78M |
| D&A | $4M |
| EBIT | $94M |
| EBITDA | $98M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $78M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $5M |
| Other Non-Cash Items | $29M |
| Change in Working Capital | $33M |
| OPERATING CASH FLOW | $151M |
| Capital Expenditure | -$495.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$510M |
| Sales/Maturities of Investments | $538M |
| Other Investing Activities | -$336M |
| NET CASH FROM INVESTING | -$309M |
| Net Debt Issuance | -$222M |
| Common Stock Repurchased | -$51M |
| Common Dividends Paid | -$23M |
| Other Financing Activities | $515M |
| NET CASH FROM FINANCING | $220M |
| FREE CASH FLOW | $150M |
| Net Change in Cash | $61M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $166M |
| Short-Term Investments | $2.0B |
| Net Receivables | $96M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $2.3B |
| PP&E (Net) | $120M |
| Goodwill | $376M |
| Intangible Assets | $3M |
| Long-Term Investments | $21.0B |
| Tax Assets | $0 |
| Other Non-Current Assets | $302M |
| TOTAL NON-CURRENT ASSETS | $21.8B |
| TOTAL ASSETS | $24.1B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $20.5B |
| TOTAL CURRENT LIABILITIES | $20.5B |
| Long-Term Debt | $327M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $292M |
| TOTAL NON-CURRENT LIABILITIES | $652M |
| TOTAL LIABILITIES | $21.2B |
| Common Stock | $918.0K |
| Additional Paid-In Capital | $999M |
| Retained Earnings | $2.8B |
| Treasury Stock | -$880M |
| Accum. Other Comp. Income | -$60M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.9B |
| TOTAL LIABILITIES & EQUITY | $24.1B |
| Total Debt | $360M |
| Net Debt | $194M |
