| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $360M | $335M | $318M | 7.5% | 13.2% |
| Op. Income | $85M | $65M | $62M | 30.9% | 37.1% |
| Gross Margin | 70.2% | 64.0% | 63.1% | 6.3pp | 7.1pp |
| Net Margin | 18.8% | 15.7% | 16.0% | 3.1pp | 2.8pp |
| EPS (Diluted) | $0.60 | $0.45 | $0.45 | 33.3% | 33.3% |
| Free Cash Flow | $105M | $80M | $141M | 31.8% | -25.6% |
| Item | Amount |
|---|---|
| REVENUE | $360M |
| Cost of Revenue | $107M |
| GROSS PROFIT | $253M |
| R&D Expenses | $0 |
| Selling & Marketing | $5M |
| General & Administrative | $124M |
| SG&A Expenses | $129M |
| Other Expenses | $39M |
| Operating Expenses | $168M |
| Cost & Expenses | $275M |
| OPERATING INCOME | $85M |
| Interest Income | $325M |
| Interest Expense | $100M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $85M |
| Income Tax Expense | $17M |
| Net Income from Continuing Ops | $68M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $68M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $68M |
| D&A | $12M |
| EBIT | $85M |
| EBITDA | $97M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $360M |
| Cost of Revenue | $107M |
| GROSS PROFIT | $253M |
| R&D Expenses | $0 |
| Selling & Marketing | $5M |
| General & Administrative | $124M |
| SG&A Expenses | $129M |
| Other Expenses | $39M |
| Operating Expenses | $168M |
| Cost & Expenses | $275M |
| OPERATING INCOME | $85M |
| Interest Income | $325M |
| Interest Expense | $100M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $85M |
| Income Tax Expense | $17M |
| Net Income from Continuing Ops | $68M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $68M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $68M |
| D&A | $12M |
| EBIT | $85M |
| EBITDA | $97M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $68M |
| Depreciation & Amortization | $12M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $20M |
| Change in Working Capital | $11M |
| OPERATING CASH FLOW | $112M |
| Capital Expenditure | -$8M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$11M |
| Sales/Maturities of Investments | $235M |
| Other Investing Activities | -$258M |
| NET CASH FROM INVESTING | -$42M |
| Net Debt Issuance | -$364M |
| Common Stock Repurchased | -$48.0K |
| Common Dividends Paid | -$39M |
| Other Financing Activities | $271M |
| NET CASH FROM FINANCING | -$132M |
| FREE CASH FLOW | $105M |
| Net Change in Cash | -$61M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $854M |
| Short-Term Investments | $3.9B |
| Net Receivables | $120M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $4.9B |
| PP&E (Net) | $482M |
| Goodwill | $1.1B |
| Intangible Assets | $61M |
| Long-Term Investments | $21.9B |
| Tax Assets | $100M |
| Other Non-Current Assets | $539M |
| TOTAL NON-CURRENT ASSETS | $24.2B |
| TOTAL ASSETS | $29.0B |
| Account Payables | $28M |
| Short-Term Debt | $2.0B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $21.9B |
| TOTAL CURRENT LIABILITIES | $23.9B |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $332M |
| TOTAL NON-CURRENT LIABILITIES | $1.5B |
| TOTAL LIABILITIES | $25.4B |
| Common Stock | $1M |
| Additional Paid-In Capital | $2.7B |
| Retained Earnings | $1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$193M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.6B |
| TOTAL LIABILITIES & EQUITY | $29.0B |
| Total Debt | $3.2B |
| Net Debt | $2.3B |
