| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $525M | $446M | $439M | 17.7% | 19.5% |
| Op. Income | $145M | -$15M | $176M | 1098.6% | -17.4% |
| Gross Margin | 48.1% | 37.4% | 57.9% | 10.8pp | -9.8pp |
| Net Margin | 5.8% | -32.0% | 7.8% | 37.8pp | -2.0pp |
| EPS (Diluted) | $0.50 | $-2.34 | $0.57 | 121.4% | -12.3% |
| Free Cash Flow | $450M | $1.3B | $830M | -65.3% | -45.8% |
| Item | Amount |
|---|---|
| REVENUE | $525M |
| Cost of Revenue | $272M |
| GROSS PROFIT | $253M |
| R&D Expenses | $0 |
| Selling & Marketing | $24M |
| General & Administrative | $78M |
| SG&A Expenses | $103M |
| Other Expenses | $5M |
| Operating Expenses | $107M |
| Cost & Expenses | $379M |
| OPERATING INCOME | $145M |
| Interest Income | $0 |
| Interest Expense | $113M |
| Other Income/Expenses | -$105M |
| INCOME BEFORE TAX | $41M |
| Income Tax Expense | $10M |
| Net Income from Continuing Ops | $30M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $30M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $30M |
| D&A | $6M |
| EBIT | $154M |
| EBITDA | $160M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $525M |
| Cost of Revenue | $272M |
| GROSS PROFIT | $253M |
| R&D Expenses | $0 |
| Selling & Marketing | $24M |
| General & Administrative | $78M |
| SG&A Expenses | $103M |
| Other Expenses | $5M |
| Operating Expenses | $107M |
| Cost & Expenses | $379M |
| OPERATING INCOME | $145M |
| Interest Income | $0 |
| Interest Expense | $113M |
| Other Income/Expenses | -$105M |
| INCOME BEFORE TAX | $41M |
| Income Tax Expense | $10M |
| Net Income from Continuing Ops | $30M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $30M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $30M |
| D&A | $6M |
| EBIT | $154M |
| EBITDA | $160M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $30M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $23M |
| Deferred Income Tax | -$5M |
| Other Non-Cash Items | $122M |
| Change in Working Capital | $304M |
| OPERATING CASH FLOW | $481M |
| Capital Expenditure | -$31M |
| Acquisitions (Net) | -$2M |
| Purchases of Investments | -$280M |
| Sales/Maturities of Investments | $14M |
| Other Investing Activities | -$206M |
| NET CASH FROM INVESTING | -$506M |
| Net Debt Issuance | $235M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$112M |
| NET CASH FROM FINANCING | $123M |
| FREE CASH FLOW | $450M |
| Net Change in Cash | $24M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $568M |
| Short-Term Investments | $2.1B |
| Net Receivables | $4.7B |
| Inventory | $0 |
| Other Current Assets | $1.1B |
| TOTAL CURRENT ASSETS | $8.5B |
| PP&E (Net) | $252M |
| Goodwill | $48M |
| Intangible Assets | $54M |
| Long-Term Investments | $654M |
| Tax Assets | $0 |
| Other Non-Current Assets | $197M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $9.7B |
| Account Payables | $998M |
| Short-Term Debt | $1.1B |
| Deferred Revenue | $4.5B |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $6.7B |
| Long-Term Debt | $670M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.1B |
| TOTAL NON-CURRENT LIABILITIES | $1.8B |
| TOTAL LIABILITIES | $8.5B |
| Common Stock | $61.0K |
| Additional Paid-In Capital | $270M |
| Retained Earnings | $1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$157M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $9.7B |
| Total Debt | $1.8B |
| Net Debt | $1.2B |
