| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $817M | $735M | $765M | 11.1% | 6.8% |
| Op. Income | $119M | $203M | $196M | -41.5% | -39.4% |
| Gross Margin | 62.7% | 65.5% | 61.1% | -2.8pp | 1.5pp |
| Net Margin | 11.8% | 20.7% | 19.1% | -9.0pp | -7.4pp |
| EPS (Diluted) | $0.40 | $0.73 | $0.70 | -45.2% | -42.9% |
| Free Cash Flow | $258M | $85M | $60M | 203.6% | 333.5% |
| Item | Amount |
|---|---|
| REVENUE | $817M |
| Cost of Revenue | $305M |
| GROSS PROFIT | $512M |
| R&D Expenses | $0 |
| Selling & Marketing | $4M |
| General & Administrative | $179M |
| SG&A Expenses | $183M |
| Other Expenses | $210M |
| Operating Expenses | $393M |
| Cost & Expenses | $698M |
| OPERATING INCOME | $119M |
| Interest Income | $736M |
| Interest Expense | $235M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $119M |
| Income Tax Expense | $23M |
| Net Income from Continuing Ops | $96M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $96M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $96M |
| D&A | $34M |
| EBIT | $119M |
| EBITDA | $153M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $817M |
| Cost of Revenue | $305M |
| GROSS PROFIT | $512M |
| R&D Expenses | $0 |
| Selling & Marketing | $4M |
| General & Administrative | $179M |
| SG&A Expenses | $183M |
| Other Expenses | $210M |
| Operating Expenses | $393M |
| Cost & Expenses | $698M |
| OPERATING INCOME | $119M |
| Interest Income | $736M |
| Interest Expense | $235M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $119M |
| Income Tax Expense | $23M |
| Net Income from Continuing Ops | $96M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $96M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $96M |
| D&A | $34M |
| EBIT | $119M |
| EBITDA | $153M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $96M |
| Depreciation & Amortization | $34M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $30M |
| Other Non-Cash Items | $43M |
| Change in Working Capital | $26M |
| OPERATING CASH FLOW | $236M |
| Capital Expenditure | $22M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1.6B |
| Sales/Maturities of Investments | $2.2B |
| Other Investing Activities | $1.2B |
| NET CASH FROM INVESTING | $1.8B |
| Net Debt Issuance | -$1.1B |
| Common Stock Repurchased | -$399.0K |
| Common Dividends Paid | -$76M |
| Other Financing Activities | -$510M |
| NET CASH FROM FINANCING | -$1.7B |
| FREE CASH FLOW | $258M |
| Net Change in Cash | $401M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.3B |
| Short-Term Investments | $11.0B |
| Net Receivables | $1.6B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $15.0B |
| PP&E (Net) | $572M |
| Goodwill | $1.5B |
| Intangible Assets | $855M |
| Long-Term Investments | $46.8B |
| Tax Assets | $392M |
| Other Non-Current Assets | $2.4B |
| TOTAL NON-CURRENT ASSETS | $52.5B |
| TOTAL ASSETS | $67.5B |
| Account Payables | $0 |
| Short-Term Debt | $167M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $55.8B |
| TOTAL CURRENT LIABILITIES | $55.9B |
| Long-Term Debt | $2.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $862M |
| TOTAL NON-CURRENT LIABILITIES | $3.8B |
| TOTAL LIABILITIES | $59.7B |
| Common Stock | $8.2B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$131M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$268M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $7.8B |
| TOTAL LIABILITIES & EQUITY | $67.5B |
| Total Debt | $3.1B |
| Net Debt | $747M |
