| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $694M | $674M | $672M | 3.0% | 3.3% |
| Op. Income | $190M | $166M | $140M | 14.5% | 35.7% |
| Gross Margin | 62.4% | 61.3% | 57.9% | 1.1pp | 4.5pp |
| Net Margin | 21.6% | 19.3% | 16.4% | 2.3pp | 5.2pp |
| EPS (Diluted) | $0.41 | $0.36 | $0.30 | 13.9% | 36.7% |
| Free Cash Flow | $149M | $85M | -$46M | 75.3% | 423.9% |
| Item | Amount |
|---|---|
| REVENUE | $694M |
| Cost of Revenue | $261M |
| GROSS PROFIT | $433M |
| R&D Expenses | $0 |
| Selling & Marketing | $5M |
| General & Administrative | $138M |
| SG&A Expenses | $143M |
| Other Expenses | $100M |
| Operating Expenses | $243M |
| Cost & Expenses | $504M |
| OPERATING INCOME | $190M |
| Interest Income | $596M |
| Interest Expense | $237M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $190M |
| Income Tax Expense | $40M |
| Net Income from Continuing Ops | $150M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $150M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $150M |
| D&A | $18M |
| EBIT | $190M |
| EBITDA | $208M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $694M |
| Cost of Revenue | $261M |
| GROSS PROFIT | $433M |
| R&D Expenses | $0 |
| Selling & Marketing | $5M |
| General & Administrative | $138M |
| SG&A Expenses | $143M |
| Other Expenses | $100M |
| Operating Expenses | $243M |
| Cost & Expenses | $504M |
| OPERATING INCOME | $190M |
| Interest Income | $596M |
| Interest Expense | $237M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $190M |
| Income Tax Expense | $40M |
| Net Income from Continuing Ops | $150M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $150M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $150M |
| D&A | $18M |
| EBIT | $190M |
| EBITDA | $208M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $150M |
| Depreciation & Amortization | $18M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $9M |
| Other Non-Cash Items | -$6M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | $167M |
| Capital Expenditure | -$18M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$302M |
| Sales/Maturities of Investments | $349M |
| Other Investing Activities | -$285M |
| NET CASH FROM INVESTING | -$256M |
| Net Debt Issuance | -$565M |
| Common Stock Repurchased | -$12M |
| Common Dividends Paid | -$44M |
| Other Financing Activities | $696M |
| NET CASH FROM FINANCING | $75M |
| FREE CASH FLOW | $149M |
| Net Change in Cash | -$14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.4B |
| Short-Term Investments | $3.1B |
| Net Receivables | $806M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $6.3B |
| PP&E (Net) | $557M |
| Goodwill | $2.5B |
| Intangible Assets | $40M |
| Long-Term Investments | $38.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.9B |
| TOTAL NON-CURRENT ASSETS | $43.6B |
| TOTAL ASSETS | $49.9B |
| Account Payables | $0 |
| Short-Term Debt | $1.8B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $38.4B |
| TOTAL CURRENT LIABILITIES | $40.2B |
| Long-Term Debt | $2.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $808M |
| TOTAL NON-CURRENT LIABILITIES | $3.0B |
| TOTAL LIABILITIES | $43.3B |
| Common Stock | $4M |
| Additional Paid-In Capital | $4.7B |
| Retained Earnings | $2.2B |
| Treasury Stock | -$202M |
| Accum. Other Comp. Income | -$77M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $6.6B |
| TOTAL LIABILITIES & EQUITY | $49.9B |
| Total Debt | $4.0B |
| Net Debt | $1.6B |
