| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $507M | $439M | $421M | 15.4% | 20.3% |
| Op. Income | $245M | $176M | $270M | 39.3% | -9.1% |
| Gross Margin | 55.9% | 57.9% | 74.9% | -2.0pp | -19.1pp |
| Net Margin | 22.6% | 7.8% | 27.5% | 14.8pp | -4.9pp |
| EPS (Diluted) | $1.89 | $0.57 | $1.95 | 231.6% | -3.1% |
| Free Cash Flow | -$447M | $830M | -$446M | -153.9% | -0.3% |
| Item | Amount |
|---|---|
| REVENUE | $507M |
| Cost of Revenue | $224M |
| GROSS PROFIT | $283M |
| R&D Expenses | $0 |
| Selling & Marketing | $32M |
| General & Administrative | $61M |
| SG&A Expenses | $94M |
| Other Expenses | -$55M |
| Operating Expenses | $38M |
| Cost & Expenses | $262M |
| OPERATING INCOME | $245M |
| Interest Income | $0 |
| Interest Expense | $125M |
| Other Income/Expenses | -$117M |
| INCOME BEFORE TAX | $128M |
| Income Tax Expense | $14M |
| Net Income from Continuing Ops | $114M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $115M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $115M |
| D&A | $4M |
| EBIT | $253M |
| EBITDA | $257M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $507M |
| Cost of Revenue | $224M |
| GROSS PROFIT | $283M |
| R&D Expenses | $0 |
| Selling & Marketing | $32M |
| General & Administrative | $61M |
| SG&A Expenses | $94M |
| Other Expenses | -$55M |
| Operating Expenses | $38M |
| Cost & Expenses | $262M |
| OPERATING INCOME | $245M |
| Interest Income | $0 |
| Interest Expense | $125M |
| Other Income/Expenses | -$117M |
| INCOME BEFORE TAX | $128M |
| Income Tax Expense | $14M |
| Net Income from Continuing Ops | $114M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $115M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $115M |
| D&A | $4M |
| EBIT | $253M |
| EBITDA | $257M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $114M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $12M |
| Deferred Income Tax | -$3M |
| Other Non-Cash Items | $51M |
| Change in Working Capital | -$617M |
| OPERATING CASH FLOW | -$438M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | $12M |
| Purchases of Investments | -$205M |
| Sales/Maturities of Investments | $22M |
| Other Investing Activities | $51M |
| NET CASH FROM INVESTING | -$129M |
| Net Debt Issuance | $24M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $100M |
| NET CASH FROM FINANCING | $125M |
| FREE CASH FLOW | -$447M |
| Net Change in Cash | -$433M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $569M |
| Short-Term Investments | $3.9B |
| Net Receivables | $3.0B |
| Inventory | $0 |
| Other Current Assets | $896M |
| TOTAL CURRENT ASSETS | $8.4B |
| PP&E (Net) | $179M |
| Goodwill | $53M |
| Intangible Assets | $46M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $169M |
| TOTAL NON-CURRENT ASSETS | $448M |
| TOTAL ASSETS | $8.8B |
| Account Payables | $288M |
| Short-Term Debt | $2.6B |
| Deferred Revenue | $3.4B |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $6.3B |
| Long-Term Debt | $267M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $914M |
| TOTAL NON-CURRENT LIABILITIES | $1.2B |
| TOTAL LIABILITIES | $7.6B |
| Common Stock | $61.0K |
| Additional Paid-In Capital | $209M |
| Retained Earnings | $1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$97M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.3B |
| Minority Interest | $3M |
| TOTAL EQUITY | $1.3B |
| TOTAL LIABILITIES & EQUITY | $8.8B |
| Total Debt | $2.9B |
| Net Debt | $2.3B |
