| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $746M | $746M | $724M | 0.0% | 3.1% |
| Op. Income | $198M | $208M | $184M | -4.8% | 7.6% |
| Gross Margin | 76.4% | 75.2% | 71.9% | 1.2pp | 4.5pp |
| Net Margin | 22.3% | 23.4% | 21.4% | -1.1pp | 0.9pp |
| EPS (Diluted) | $2.56 | $2.67 | $2.36 | -4.1% | 8.5% |
| Free Cash Flow | $138M | $316M | $27M | -56.2% | 418.5% |
| Item | Amount |
|---|---|
| REVENUE | $746M |
| Cost of Revenue | $176M |
| GROSS PROFIT | $570M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $264M |
| SG&A Expenses | $264M |
| Other Expenses | $108M |
| Operating Expenses | $372M |
| Cost & Expenses | $548M |
| OPERATING INCOME | $198M |
| Interest Income | $614M |
| Interest Expense | $165M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $198M |
| Income Tax Expense | $32M |
| Net Income from Continuing Ops | $166M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $166M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $165M |
| D&A | $22M |
| EBIT | $198M |
| EBITDA | $220M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $746M |
| Cost of Revenue | $176M |
| GROSS PROFIT | $570M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $264M |
| SG&A Expenses | $264M |
| Other Expenses | $108M |
| Operating Expenses | $372M |
| Cost & Expenses | $548M |
| OPERATING INCOME | $198M |
| Interest Income | $614M |
| Interest Expense | $165M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $198M |
| Income Tax Expense | $32M |
| Net Income from Continuing Ops | $166M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $166M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $165M |
| D&A | $22M |
| EBIT | $198M |
| EBITDA | $220M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $166M |
| Depreciation & Amortization | $22M |
| Stock-Based Compensation | $12M |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $15M |
| Change in Working Capital | -$37M |
| OPERATING CASH FLOW | $181M |
| Capital Expenditure | -$43M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$6.1B |
| Sales/Maturities of Investments | $7.1B |
| Other Investing Activities | -$444M |
| NET CASH FROM INVESTING | $550M |
| Net Debt Issuance | -$51M |
| Common Stock Repurchased | -$85M |
| Common Dividends Paid | -$64M |
| Other Financing Activities | $401M |
| NET CASH FROM FINANCING | $203M |
| FREE CASH FLOW | $138M |
| Net Change in Cash | $934M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $8.9B |
| Short-Term Investments | $1.1B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $10.0B |
| PP&E (Net) | $1.3B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $39.9B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.8B |
| TOTAL NON-CURRENT ASSETS | $43.1B |
| TOTAL ASSETS | $53.0B |
| Account Payables | $0 |
| Short-Term Debt | $4.5B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $42.9B |
| TOTAL CURRENT LIABILITIES | $47.5B |
| Long-Term Debt | $223M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $783M |
| TOTAL NON-CURRENT LIABILITIES | $1.0B |
| TOTAL LIABILITIES | $48.5B |
| Common Stock | $644.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | $4.3B |
| Treasury Stock | -$140M |
| Accum. Other Comp. Income | -$843M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.6B |
| TOTAL LIABILITIES & EQUITY | $53.0B |
| Total Debt | $4.8B |
| Net Debt | -$4.1B |
