| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.0B | $3.0B | $2.0B | 2.7% | 52.4% |
| Op. Income | $557M | $725M | -$386M | -23.2% | 244.3% |
| Gross Margin | 46.4% | 79.5% | 31.9% | -33.1pp | 14.5pp |
| Net Margin | 18.1% | 18.4% | -20.0% | -0.3pp | 38.1pp |
| EPS (Diluted) | $2.30 | $2.27 | $-1.72 | 1.3% | 233.7% |
| Free Cash Flow | $78M | $426M | -$154M | -81.7% | 150.6% |
| Item | Amount |
|---|---|
| REVENUE | $3.0B |
| Cost of Revenue | $1.6B |
| GROSS PROFIT | $1.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $799M |
| General & Administrative | $49M |
| SG&A Expenses | $848M |
| Other Expenses | $9M |
| Operating Expenses | $857M |
| Cost & Expenses | $2.5B |
| OPERATING INCOME | $557M |
| Interest Income | $0 |
| Interest Expense | $59M |
| Other Income/Expenses | $130M |
| INCOME BEFORE TAX | $687M |
| Income Tax Expense | $134M |
| NET INCOME | $553M |
| D&A | $759M |
| EBIT | $557M |
| EBITDA | $1.3B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $3.0B |
| Cost of Revenue | $1.6B |
| GROSS PROFIT | $1.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $799M |
| General & Administrative | $49M |
| SG&A Expenses | $848M |
| Other Expenses | $9M |
| Operating Expenses | $857M |
| Cost & Expenses | $2.5B |
| OPERATING INCOME | $557M |
| Interest Income | $0 |
| Interest Expense | $59M |
| Other Income/Expenses | $130M |
| INCOME BEFORE TAX | $687M |
| Income Tax Expense | $134M |
| NET INCOME | $553M |
| D&A | $759M |
| EBIT | $557M |
| EBITDA | $1.3B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $553M |
| Depreciation & Amortization | $759M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $128M |
| Other Non-Cash Items | -$68M |
| Change in Working Capital | -$427M |
| OPERATING CASH FLOW | $945M |
| Capital Expenditure | -$867M |
| Acquisitions (Net) | $51M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$816M |
| Net Debt Issuance | $11M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$137M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$124M |
| FREE CASH FLOW | $78M |
| Net Change in Cash | $5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $696M |
| Short-Term Investments | $264M |
| Net Receivables | $1.6B |
| Inventory | $0 |
| Other Current Assets | $357M |
| TOTAL CURRENT ASSETS | $2.9B |
| PP&E (Net) | $24.4B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $360M |
| Tax Assets | $168M |
| Other Non-Current Assets | $488M |
| TOTAL NON-CURRENT ASSETS | $25.4B |
| TOTAL ASSETS | $28.3B |
| Account Payables | $753M |
| Short-Term Debt | $51M |
| Deferred Revenue | $1.2B |
| Other Current Liabilities | $608M |
| TOTAL CURRENT LIABILITIES | $2.9B |
| Long-Term Debt | $5.0B |
| Deferred Revenue NC | $975M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $824M |
| TOTAL NON-CURRENT LIABILITIES | $6.8B |
| TOTAL LIABILITIES | $9.7B |
| Common Stock | $2M |
| Additional Paid-In Capital | $13.7B |
| Retained Earnings | $4.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $18.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $18.6B |
| TOTAL LIABILITIES & EQUITY | $28.3B |
| Total Debt | $5.1B |
| Net Debt | $4.4B |
