| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $388M | $354M | $337M | 9.6% | 15.0% |
| Op. Income | $100M | $79M | $46M | 27.2% | 118.1% |
| Gross Margin | 52.0% | 51.3% | 43.4% | 0.6pp | 8.6pp |
| Net Margin | 19.5% | 17.2% | 13.9% | 2.3pp | 5.7pp |
| EPS (Diluted) | $2.20 | $1.73 | $1.31 | 27.2% | 67.9% |
| Free Cash Flow | $57M | $139M | $12M | -58.6% | 361.6% |
| Item | Amount |
|---|---|
| REVENUE | $388M |
| Cost of Revenue | $186M |
| GROSS PROFIT | $201M |
| R&D Expenses | $0 |
| Selling & Marketing | $636.0K |
| General & Administrative | $57M |
| SG&A Expenses | $58M |
| Other Expenses | $43M |
| Operating Expenses | $101M |
| Cost & Expenses | $287M |
| OPERATING INCOME | $100M |
| Interest Income | $361M |
| Interest Expense | $160M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $100M |
| Income Tax Expense | $25M |
| Net Income from Continuing Ops | $76M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $76M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $74M |
| D&A | $2M |
| EBIT | $100M |
| EBITDA | $102M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $388M |
| Cost of Revenue | $186M |
| GROSS PROFIT | $201M |
| R&D Expenses | $0 |
| Selling & Marketing | $636.0K |
| General & Administrative | $57M |
| SG&A Expenses | $58M |
| Other Expenses | $43M |
| Operating Expenses | $101M |
| Cost & Expenses | $287M |
| OPERATING INCOME | $100M |
| Interest Income | $361M |
| Interest Expense | $160M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $100M |
| Income Tax Expense | $25M |
| Net Income from Continuing Ops | $76M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $76M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $74M |
| D&A | $2M |
| EBIT | $100M |
| EBITDA | $102M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $76M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $23M |
| Change in Working Capital | $13M |
| OPERATING CASH FLOW | $117M |
| Capital Expenditure | -$59M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$306M |
| Sales/Maturities of Investments | $243M |
| Other Investing Activities | -$903M |
| NET CASH FROM INVESTING | -$1.0B |
| Net Debt Issuance | $50M |
| Common Stock Repurchased | -$58M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $1.4B |
| NET CASH FROM FINANCING | $1.6B |
| FREE CASH FLOW | $57M |
| Net Change in Cash | $682M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4.2B |
| Short-Term Investments | $611M |
| Net Receivables | $106M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $4.9B |
| PP&E (Net) | $15M |
| Goodwill | $0 |
| Intangible Assets | $4M |
| Long-Term Investments | $16.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.8B |
| TOTAL NON-CURRENT ASSETS | $19.4B |
| TOTAL ASSETS | $24.3B |
| Account Payables | $0 |
| Short-Term Debt | $50M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $20.4B |
| TOTAL CURRENT LIABILITIES | $20.5B |
| Long-Term Debt | $1.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $252M |
| TOTAL NON-CURRENT LIABILITIES | $1.7B |
| TOTAL LIABILITIES | $22.1B |
| Common Stock | $36M |
| Additional Paid-In Capital | $662M |
| Retained Earnings | $1.5B |
| Treasury Stock | -$69M |
| Accum. Other Comp. Income | -$51M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.1B |
| TOTAL LIABILITIES & EQUITY | $24.3B |
| Total Debt | $1.5B |
| Net Debt | -$2.7B |
