| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.3B | $1.3B | $1.0B | 0.7% | 26.5% |
| Op. Income | $650M | $635M | $558M | 2.4% | 16.5% |
| Gross Margin | 75.7% | 77.0% | 85.8% | -1.3pp | -10.1pp |
| Net Margin | 47.2% | 43.6% | 90.3% | 3.5pp | -43.2pp |
| EPS (Diluted) | $0.66 | $0.61 | $1.01 | 8.2% | -34.6% |
| Free Cash Flow | -$939M | -$1.6B | -$1.4B | 40.9% | 33.6% |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $312M |
| GROSS PROFIT | $971M |
| R&D Expenses | $0 |
| Selling & Marketing | $93M |
| General & Administrative | $178M |
| SG&A Expenses | $271M |
| Other Expenses | $50M |
| Operating Expenses | $321M |
| Cost & Expenses | $633M |
| OPERATING INCOME | $650M |
| Interest Income | $411M |
| Interest Expense | $0 |
| Other Income/Expenses | $11M |
| INCOME BEFORE TAX | $661M |
| Income Tax Expense | $56M |
| Net Income from Continuing Ops | $605M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $605M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $605M |
| D&A | $23M |
| EBIT | $661M |
| EBITDA | $684M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $312M |
| GROSS PROFIT | $971M |
| R&D Expenses | $0 |
| Selling & Marketing | $93M |
| General & Administrative | $178M |
| SG&A Expenses | $271M |
| Other Expenses | $50M |
| Operating Expenses | $321M |
| Cost & Expenses | $633M |
| OPERATING INCOME | $650M |
| Interest Income | $411M |
| Interest Expense | $0 |
| Other Income/Expenses | $11M |
| INCOME BEFORE TAX | $661M |
| Income Tax Expense | $56M |
| Net Income from Continuing Ops | $605M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $605M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $605M |
| D&A | $23M |
| EBIT | $661M |
| EBITDA | $684M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $605M |
| Depreciation & Amortization | $23M |
| Stock-Based Compensation | $76M |
| Deferred Income Tax | $29M |
| Other Non-Cash Items | $534M |
| Change in Working Capital | -$2.2B |
| OPERATING CASH FLOW | -$937M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$234M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$322M |
| NET CASH FROM INVESTING | -$558M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$100M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $194M |
| NET CASH FROM FINANCING | $118M |
| FREE CASH FLOW | -$939M |
| Net Change in Cash | -$1.4B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4.3B |
| Short-Term Investments | $3.8B |
| Net Receivables | $20.8B |
| Inventory | $0 |
| Other Current Assets | $7.4B |
| TOTAL CURRENT ASSETS | $36.3B |
| PP&E (Net) | $154M |
| Goodwill | $385M |
| Intangible Assets | $168M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.1B |
| TOTAL NON-CURRENT ASSETS | $1.8B |
| TOTAL ASSETS | $38.1B |
| Account Payables | $463M |
| Short-Term Debt | $15.4B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $914M |
| TOTAL CURRENT LIABILITIES | $28.8B |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $215M |
| TOTAL NON-CURRENT LIABILITIES | $215M |
| TOTAL LIABILITIES | $29.0B |
| Common Stock | $0 |
| Additional Paid-In Capital | $11.3B |
| Retained Earnings | -$2.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $8M |
| Other Equity | $11M |
| TOTAL STOCKHOLDERS' EQUITY | $9.2B |
| Minority Interest | $11M |
| TOTAL EQUITY | $9.2B |
| TOTAL LIABILITIES & EQUITY | $38.1B |
| Total Debt | $15.4B |
| Net Debt | $11.1B |
