| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.3B | — | $980M | — | 32.4% |
| Op. Income | $430M | — | $214M | — | 101.5% |
| Gross Margin | 99.3% | — | 99.6% | — | -0.2pp |
| Net Margin | 15.7% | — | 14.3% | — | 1.4pp |
| EPS (Diluted) | $4.76 | — | $3.30 | — | 44.2% |
| Free Cash Flow | $799M | — | $673M | — | 18.7% |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $9M |
| GROSS PROFIT | $1.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $55M |
| SG&A Expenses | $55M |
| Other Expenses | $836M |
| Operating Expenses | $891M |
| Cost & Expenses | $867M |
| OPERATING INCOME | $430M |
| Interest Income | $0 |
| Interest Expense | $9M |
| Other Income/Expenses | -$118M |
| INCOME BEFORE TAX | $312M |
| Income Tax Expense | $91M |
| Net Income from Continuing Ops | $222M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $204M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $204M |
| D&A | $29M |
| EBIT | $344M |
| EBITDA | $372M |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $9M |
| GROSS PROFIT | $1.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $55M |
| SG&A Expenses | $55M |
| Other Expenses | $836M |
| Operating Expenses | $891M |
| Cost & Expenses | $867M |
| OPERATING INCOME | $430M |
| Interest Income | $0 |
| Interest Expense | $9M |
| Other Income/Expenses | -$118M |
| INCOME BEFORE TAX | $312M |
| Income Tax Expense | $91M |
| Net Income from Continuing Ops | $222M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $204M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $204M |
| D&A | $29M |
| EBIT | $344M |
| EBITDA | $372M |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| Net Income | $204M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $344M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$109M |
| Change in Working Capital | $363M |
| OPERATING CASH FLOW | $807M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | $12M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$13M |
| NET CASH FROM INVESTING | -$10M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$174M |
| Common Dividends Paid | -$32M |
| Other Financing Activities | -$20M |
| NET CASH FROM FINANCING | -$226M |
| FREE CASH FLOW | $799M |
| Net Change in Cash | $575M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.4B |
| Short-Term Investments | $1.6B |
| Net Receivables | $777M |
| Inventory | $0 |
| Other Current Assets | $75M |
| TOTAL CURRENT ASSETS | $3.9B |
| PP&E (Net) | $0 |
| Goodwill | $231M |
| Intangible Assets | $30M |
| Long-Term Investments | $17M |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.2B |
| TOTAL NON-CURRENT ASSETS | $1.5B |
| TOTAL ASSETS | $5.4B |
| Account Payables | $45M |
| Short-Term Debt | $107M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $53M |
| TOTAL CURRENT LIABILITIES | $1.8B |
| Long-Term Debt | $540M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $202M |
| TOTAL NON-CURRENT LIABILITIES | $1.3B |
| TOTAL LIABILITIES | $3.0B |
| Common Stock | $876.0K |
| Additional Paid-In Capital | $4.0B |
| Retained Earnings | $2.6B |
| Treasury Stock | -$4.6B |
| Accum. Other Comp. Income | -$13M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.0B |
| Minority Interest | $288M |
| TOTAL EQUITY | $2.3B |
| TOTAL LIABILITIES & EQUITY | $5.4B |
| Total Debt | $1.2B |
| Net Debt | -$271M |
