| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $14.1B | $7.3B | $12.4B | 93.0% | 13.6% |
| Op. Income | $2.2B | $1.6B | $2.4B | 34.5% | -8.4% |
| Gross Margin | 52.6% | 22.7% | 59.2% | 29.9pp | -6.6pp |
| Net Margin | 12.2% | 22.4% | 14.1% | -10.1pp | -1.9pp |
| EPS (Diluted) | $0.34 | $0.39 | $0.34 | -13.9% | -2.2% |
| Free Cash Flow | $0 | $0 | $0 | — | — |
| Item | Amount |
|---|---|
| REVENUE | $14.1B |
| Cost of Revenue | $6.7B |
| GROSS PROFIT | $7.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $944M |
| SG&A Expenses | $944M |
| Other Expenses | $4.3B |
| Operating Expenses | $5.2B |
| Cost & Expenses | $11.9B |
| OPERATING INCOME | $2.2B |
| Interest Income | $9.3B |
| Interest Expense | $5.1B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.2B |
| Income Tax Expense | $399M |
| Net Income from Continuing Ops | $1.8B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.7B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.7B |
| D&A | $0 |
| EBIT | $2.2B |
| EBITDA | $2.2B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $14.1B |
| Cost of Revenue | $6.7B |
| GROSS PROFIT | $7.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $944M |
| SG&A Expenses | $944M |
| Other Expenses | $4.3B |
| Operating Expenses | $5.2B |
| Cost & Expenses | $11.9B |
| OPERATING INCOME | $2.2B |
| Interest Income | $9.3B |
| Interest Expense | $5.1B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.2B |
| Income Tax Expense | $399M |
| Net Income from Continuing Ops | $1.8B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.7B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.7B |
| D&A | $0 |
| EBIT | $2.2B |
| EBITDA | $2.2B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $1.7B |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1.7B |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $0 |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | $0 |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $22.8B |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $22.8B |
| PP&E (Net) | $1.6B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $424.9B |
| Tax Assets | $0 |
| Other Non-Current Assets | $23.9B |
| TOTAL NON-CURRENT ASSETS | $450.4B |
| TOTAL ASSETS | $473.2B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $292.7B |
| TOTAL CURRENT LIABILITIES | $292.7B |
| Long-Term Debt | $63.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $57.0B |
| TOTAL NON-CURRENT LIABILITIES | $120.7B |
| TOTAL LIABILITIES | $413.4B |
| Common Stock | $81M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $57.1B |
| Other Equity | $429M |
| TOTAL STOCKHOLDERS' EQUITY | $57.6B |
| Minority Interest | $2.2B |
| TOTAL EQUITY | $59.8B |
| TOTAL LIABILITIES & EQUITY | $473.2B |
| Total Debt | $63.7B |
| Net Debt | $40.9B |
