| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $746M | $719M | $722M | 3.7% | 3.3% |
| Op. Income | $208M | $187M | $175M | 11.5% | 18.7% |
| Gross Margin | 75.2% | 74.2% | 69.1% | 1.0pp | 6.1pp |
| Net Margin | 23.4% | 21.8% | 20.3% | 1.6pp | 3.1pp |
| EPS (Diluted) | $2.67 | $2.39 | $2.24 | 11.7% | 19.2% |
| Free Cash Flow | $316M | $115M | $282M | 175.8% | 12.0% |
| Item | Amount |
|---|---|
| REVENUE | $746M |
| Cost of Revenue | $185M |
| GROSS PROFIT | $560M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $210M |
| SG&A Expenses | $210M |
| Other Expenses | $143M |
| Operating Expenses | $352M |
| Cost & Expenses | $538M |
| OPERATING INCOME | $208M |
| Interest Income | $620M |
| Interest Expense | $178M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $208M |
| Income Tax Expense | $34M |
| Net Income from Continuing Ops | $174M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $174M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $173M |
| D&A | $22M |
| EBIT | $208M |
| EBITDA | $230M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $746M |
| Cost of Revenue | $185M |
| GROSS PROFIT | $560M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $210M |
| SG&A Expenses | $210M |
| Other Expenses | $143M |
| Operating Expenses | $352M |
| Cost & Expenses | $538M |
| OPERATING INCOME | $208M |
| Interest Income | $620M |
| Interest Expense | $178M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $208M |
| Income Tax Expense | $34M |
| Net Income from Continuing Ops | $174M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $174M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $173M |
| D&A | $22M |
| EBIT | $208M |
| EBITDA | $230M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $174M |
| Depreciation & Amortization | $41M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $7M |
| Other Non-Cash Items | -$520M |
| Change in Working Capital | $542M |
| OPERATING CASH FLOW | $249M |
| Capital Expenditure | $67M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $2.4B |
| Sales/Maturities of Investments | -$2.7B |
| Other Investing Activities | $22M |
| NET CASH FROM INVESTING | -$275M |
| Net Debt Issuance | $151M |
| Common Stock Repurchased | -$70M |
| Common Dividends Paid | -$65M |
| Other Financing Activities | $834M |
| NET CASH FROM FINANCING | $851M |
| FREE CASH FLOW | $316M |
| Net Change in Cash | $824M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7.9B |
| Short-Term Investments | $10.7B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $18.6B |
| PP&E (Net) | $1.3B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $23.3B |
| Tax Assets | $0 |
| Other Non-Current Assets | $9.3B |
| TOTAL NON-CURRENT ASSETS | $33.9B |
| TOTAL ASSETS | $52.5B |
| Account Payables | $0 |
| Short-Term Debt | $4.6B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $42.5B |
| TOTAL CURRENT LIABILITIES | $47.1B |
| Long-Term Debt | $223M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $737M |
| TOTAL NON-CURRENT LIABILITIES | $960M |
| TOTAL LIABILITIES | $48.1B |
| Common Stock | $644.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | $4.2B |
| Treasury Stock | -$76M |
| Accum. Other Comp. Income | -$924M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.5B |
| TOTAL LIABILITIES & EQUITY | $52.5B |
| Total Debt | $4.8B |
| Net Debt | -$3.1B |
