| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $9.0B | $17.6B | $17.8B | -48.8% | -49.4% |
| Op. Income | $2.4B | $2.9B | $680M | -17.1% | 248.3% |
| Gross Margin | 94.9% | 50.5% | 44.4% | 44.4pp | 50.5pp |
| Net Margin | 19.5% | 11.8% | 2.0% | 7.7pp | 17.5pp |
| EPS (Diluted) | $0.76 | $0.91 | $0.18 | -16.7% | 333.3% |
| Free Cash Flow | $0 | $0 | $0 | — | — |
| Item | Amount |
|---|---|
| REVENUE | $9.0B |
| Cost of Revenue | $462M |
| GROSS PROFIT | $8.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $3.4B |
| SG&A Expenses | $3.4B |
| Other Expenses | $2.8B |
| Operating Expenses | $6.2B |
| Cost & Expenses | $6.7B |
| OPERATING INCOME | $2.4B |
| Interest Income | $12.8B |
| Interest Expense | $7.8B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.4B |
| Income Tax Expense | $530M |
| Net Income from Continuing Ops | $1.8B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.8B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.8B |
| D&A | $0 |
| EBIT | $2.4B |
| EBITDA | $2.4B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $9.0B |
| Cost of Revenue | $462M |
| GROSS PROFIT | $8.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $3.4B |
| SG&A Expenses | $3.4B |
| Other Expenses | $2.8B |
| Operating Expenses | $6.2B |
| Cost & Expenses | $6.7B |
| OPERATING INCOME | $2.4B |
| Interest Income | $12.8B |
| Interest Expense | $7.8B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.4B |
| Income Tax Expense | $530M |
| Net Income from Continuing Ops | $1.8B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.8B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.8B |
| D&A | $0 |
| EBIT | $2.4B |
| EBITDA | $2.4B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $1.8B |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1.8B |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $0 |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | $0 |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $192.5B |
| Short-Term Investments | $223.6B |
| Net Receivables | $5.3B |
| Inventory | $0 |
| Other Current Assets | -$223.6B |
| TOTAL CURRENT ASSETS | $197.8B |
| PP&E (Net) | $6.9B |
| Goodwill | $3.2B |
| Intangible Assets | $5.6B |
| Long-Term Investments | $1.0T |
| Tax Assets | $0 |
| Other Non-Current Assets | $428.9B |
| TOTAL NON-CURRENT ASSETS | $1.5T |
| TOTAL ASSETS | $1.7T |
| Account Payables | $131.1B |
| Short-Term Debt | $126.9B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $860.8B |
| TOTAL CURRENT LIABILITIES | $1.1T |
| Long-Term Debt | $166.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $728M |
| Other Non-Current Liabilities | $292.6B |
| TOTAL NON-CURRENT LIABILITIES | $464.4B |
| TOTAL LIABILITIES | $1.6T |
| Common Stock | $5.7B |
| Additional Paid-In Capital | $44.7B |
| Retained Earnings | $32.8B |
| Treasury Stock | -$216M |
| Accum. Other Comp. Income | -$4.9B |
| Other Equity | $13.7B |
| TOTAL STOCKHOLDERS' EQUITY | $91.9B |
| Minority Interest | $1.8B |
| TOTAL EQUITY | $93.8B |
| TOTAL LIABILITIES & EQUITY | $1.7T |
| Total Debt | $297.9B |
| Net Debt | $105.4B |
