| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.9B | $2.7B | $3.0B | 9.2% | -3.5% |
| Op. Income | $288M | $248M | $302M | 16.3% | -4.5% |
| Gross Margin | 16.1% | 15.6% | 12.6% | 0.5pp | 3.4pp |
| Net Margin | 7.7% | 6.9% | 7.7% | 0.8pp | 0.0pp |
| EPS (Diluted) | $1.64 | $1.34 | $1.63 | 22.4% | 0.6% |
| Free Cash Flow | $190M | $163M | $78M | 16.5% | 144.9% |
| Item | Amount |
|---|---|
| REVENUE | $2.9B |
| Cost of Revenue | $2.4B |
| GROSS PROFIT | $465M |
| R&D Expenses | $0 |
| Selling & Marketing | $10M |
| General & Administrative | $0 |
| SG&A Expenses | $10M |
| Other Expenses | $167M |
| Operating Expenses | $177M |
| Cost & Expenses | $2.6B |
| OPERATING INCOME | $288M |
| Interest Income | $8M |
| Interest Expense | $0 |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | $298M |
| Income Tax Expense | $75M |
| Net Income from Continuing Ops | $223M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $222M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $222M |
| D&A | $14M |
| EBIT | $298M |
| EBITDA | $312M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $2.9B |
| Cost of Revenue | $2.4B |
| GROSS PROFIT | $465M |
| R&D Expenses | $0 |
| Selling & Marketing | $10M |
| General & Administrative | $0 |
| SG&A Expenses | $10M |
| Other Expenses | $167M |
| Operating Expenses | $177M |
| Cost & Expenses | $2.6B |
| OPERATING INCOME | $288M |
| Interest Income | $8M |
| Interest Expense | $0 |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | $298M |
| Income Tax Expense | $75M |
| Net Income from Continuing Ops | $223M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $222M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $222M |
| D&A | $14M |
| EBIT | $298M |
| EBITDA | $312M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $223M |
| Depreciation & Amortization | $14M |
| Stock-Based Compensation | $18M |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $13M |
| Change in Working Capital | -$65M |
| OPERATING CASH FLOW | $201M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $924.0K |
| NET CASH FROM INVESTING | -$10M |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | -$212M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$491.0K |
| NET CASH FROM FINANCING | -$150M |
| FREE CASH FLOW | $190M |
| Net Change in Cash | $34M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.2B |
| Short-Term Investments | $0 |
| Net Receivables | $2.0B |
| Inventory | $0 |
| Other Current Assets | $439M |
| TOTAL CURRENT ASSETS | $3.7B |
| PP&E (Net) | $1.0B |
| Goodwill | $8M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $77M |
| Other Non-Current Assets | $15M |
| TOTAL NON-CURRENT ASSETS | $1.1B |
| TOTAL ASSETS | $4.8B |
| Account Payables | $1.1B |
| Short-Term Debt | $0 |
| Deferred Revenue | $335M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $2.0B |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $449M |
| TOTAL LIABILITIES | $2.5B |
| Common Stock | $1M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $2.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$189M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.3B |
| Minority Interest | $2M |
| TOTAL EQUITY | $2.3B |
| TOTAL LIABILITIES & EQUITY | $4.8B |
| Total Debt | $560M |
| Net Debt | -$630M |
