| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $324M | $314M | $303M | 3.1% | 6.9% |
| Op. Income | $91M | $88M | $65M | 3.2% | 39.8% |
| Gross Margin | 69.5% | 69.0% | 63.0% | 0.5pp | 6.5pp |
| Net Margin | 22.2% | 22.3% | 17.3% | -0.1pp | 4.9pp |
| EPS (Diluted) | $0.75 | $0.73 | $0.55 | 2.7% | 36.4% |
| Free Cash Flow | $99M | $65M | $84M | 51.9% | 16.7% |
| Item | Amount |
|---|---|
| REVENUE | $324M |
| Cost of Revenue | $99M |
| GROSS PROFIT | $225M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $97M |
| SG&A Expenses | $99M |
| Other Expenses | $35M |
| Operating Expenses | $134M |
| Cost & Expenses | $233M |
| OPERATING INCOME | $91M |
| Interest Income | $250M |
| Interest Expense | $90M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $91M |
| Income Tax Expense | $19M |
| Net Income from Continuing Ops | $72M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $72M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $72M |
| D&A | $7M |
| EBIT | $91M |
| EBITDA | $98M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $324M |
| Cost of Revenue | $99M |
| GROSS PROFIT | $225M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $97M |
| SG&A Expenses | $99M |
| Other Expenses | $35M |
| Operating Expenses | $134M |
| Cost & Expenses | $233M |
| OPERATING INCOME | $91M |
| Interest Income | $250M |
| Interest Expense | $90M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $91M |
| Income Tax Expense | $19M |
| Net Income from Continuing Ops | $72M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $72M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $72M |
| D&A | $7M |
| EBIT | $91M |
| EBITDA | $98M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $72M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $11M |
| Other Non-Cash Items | $15M |
| Change in Working Capital | -$20M |
| OPERATING CASH FLOW | $90M |
| Capital Expenditure | $9M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$448M |
| Sales/Maturities of Investments | $426M |
| Other Investing Activities | $74M |
| NET CASH FROM INVESTING | $48M |
| Net Debt Issuance | -$213M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$24M |
| Other Financing Activities | $63M |
| NET CASH FROM FINANCING | -$173M |
| FREE CASH FLOW | $99M |
| Net Change in Cash | -$36M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $740M |
| Short-Term Investments | $3.4B |
| Net Receivables | $582M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $4.7B |
| PP&E (Net) | $413M |
| Goodwill | $1.0B |
| Intangible Assets | $74M |
| Long-Term Investments | $11.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.1B |
| TOTAL NON-CURRENT ASSETS | $13.8B |
| TOTAL ASSETS | $18.6B |
| Account Payables | $0 |
| Short-Term Debt | $595M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $14.4B |
| TOTAL CURRENT LIABILITIES | $15.0B |
| Long-Term Debt | $221M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $672M |
| TOTAL NON-CURRENT LIABILITIES | $894M |
| TOTAL LIABILITIES | $15.9B |
| Common Stock | $1.6B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $1.4B |
| Treasury Stock | -$186M |
| Accum. Other Comp. Income | -$223M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.6B |
| TOTAL LIABILITIES & EQUITY | $18.6B |
| Total Debt | $817M |
| Net Debt | $77M |
