| Metric | Q3 2026 | Q2 2026 | Q3 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $553M | $531M | $576M | 4.1% | -4.1% |
| Op. Income | $154M | $160M | $225M | -3.4% | -31.5% |
| Gross Margin | 72.2% | 52.5% | 52.1% | 19.8pp | 20.1pp |
| Net Margin | 13.8% | 7.3% | 13.6% | 6.5pp | 0.2pp |
| EPS (Diluted) | $1.25 | $0.63 | $1.29 | 98.4% | -3.1% |
| Free Cash Flow | $652M | $456M | -$93M | 42.8% | 803.0% |
| Item | Amount |
|---|---|
| REVENUE | $553M |
| Cost of Revenue | $154M |
| GROSS PROFIT | $399M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $245M |
| Operating Expenses | $245M |
| Cost & Expenses | $399M |
| OPERATING INCOME | $154M |
| Interest Income | $0 |
| Interest Expense | $128M |
| Other Income/Expenses | -$60M |
| INCOME BEFORE TAX | $94M |
| Income Tax Expense | $18M |
| Net Income from Continuing Ops | $76M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $76M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $76M |
| D&A | $8M |
| EBIT | $222M |
| EBITDA | $230M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $553M |
| Cost of Revenue | $154M |
| GROSS PROFIT | $399M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $245M |
| Operating Expenses | $245M |
| Cost & Expenses | $399M |
| OPERATING INCOME | $154M |
| Interest Income | $0 |
| Interest Expense | $128M |
| Other Income/Expenses | -$60M |
| INCOME BEFORE TAX | $94M |
| Income Tax Expense | $18M |
| Net Income from Continuing Ops | $76M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $76M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $76M |
| D&A | $8M |
| EBIT | $222M |
| EBITDA | $230M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $76M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $15M |
| Deferred Income Tax | -$7M |
| Other Non-Cash Items | -$18M |
| Change in Working Capital | $643M |
| OPERATING CASH FLOW | $718M |
| Capital Expenditure | -$66M |
| Acquisitions (Net) | -$18M |
| Purchases of Investments | -$193M |
| Sales/Maturities of Investments | $110M |
| Other Investing Activities | -$89M |
| NET CASH FROM INVESTING | -$256M |
| Net Debt Issuance | $356M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $429M |
| NET CASH FROM FINANCING | $784M |
| FREE CASH FLOW | $652M |
| Net Change in Cash | $1.6B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $869M |
| Short-Term Investments | $2.3B |
| Net Receivables | $5.0B |
| Inventory | $0 |
| Other Current Assets | $2.6B |
| TOTAL CURRENT ASSETS | $10.8B |
| PP&E (Net) | $371M |
| Goodwill | $49M |
| Intangible Assets | $66M |
| Long-Term Investments | $858M |
| Tax Assets | $0 |
| Other Non-Current Assets | $228M |
| TOTAL NON-CURRENT ASSETS | $1.6B |
| TOTAL ASSETS | $12.4B |
| Account Payables | $562M |
| Short-Term Debt | $1.1B |
| Deferred Revenue | $6.9B |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $8.6B |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.3B |
| TOTAL NON-CURRENT LIABILITIES | $2.4B |
| TOTAL LIABILITIES | $11.0B |
| Common Stock | $61.0K |
| Additional Paid-In Capital | $300M |
| Retained Earnings | $1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$136M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.4B |
| TOTAL LIABILITIES & EQUITY | $12.4B |
| Total Debt | $2.2B |
| Net Debt | $1.3B |
