| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $260M | $216M | $247M | 20.3% | 5.4% |
| Op. Income | $36M | -$30M | $32M | 221.9% | 13.6% |
| Gross Margin | 51.2% | 36.8% | 45.9% | 14.4pp | 5.3pp |
| Net Margin | 11.9% | -12.9% | 9.8% | 24.8pp | 2.1pp |
| EPS (Diluted) | $0.24 | $-0.22 | $0.20 | 209.1% | 20.0% |
| Free Cash Flow | $47M | $7M | $60M | 584.4% | -21.6% |
| Item | Amount |
|---|---|
| REVENUE | $260M |
| Cost of Revenue | $127M |
| GROSS PROFIT | $133M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $87M |
| Operating Expenses | $97M |
| Cost & Expenses | $224M |
| OPERATING INCOME | $36M |
| Interest Income | $245M |
| Interest Expense | $118M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | $31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $0 |
| EBIT | $36M |
| EBITDA | $36M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $260M |
| Cost of Revenue | $127M |
| GROSS PROFIT | $133M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $87M |
| Operating Expenses | $97M |
| Cost & Expenses | $224M |
| OPERATING INCOME | $36M |
| Interest Income | $245M |
| Interest Expense | $118M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | $31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $0 |
| EBIT | $36M |
| EBITDA | $36M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $31M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $8M |
| Other Non-Cash Items | $21M |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | $52M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$41M |
| Sales/Maturities of Investments | $59M |
| Other Investing Activities | -$158M |
| NET CASH FROM INVESTING | -$145M |
| Net Debt Issuance | -$5M |
| Common Stock Repurchased | $2M |
| Common Dividends Paid | -$18M |
| Other Financing Activities | -$120M |
| NET CASH FROM FINANCING | -$141M |
| FREE CASH FLOW | $47M |
| Net Change in Cash | -$235M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $455M |
| Short-Term Investments | $0 |
| Net Receivables | $53M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $508M |
| PP&E (Net) | $126M |
| Goodwill | $478M |
| Intangible Assets | $46M |
| Long-Term Investments | $16.9B |
| Tax Assets | $189M |
| Other Non-Current Assets | $309M |
| TOTAL NON-CURRENT ASSETS | $18.0B |
| TOTAL ASSETS | $18.5B |
| Account Payables | $74M |
| Short-Term Debt | $30M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $15.8B |
| TOTAL CURRENT LIABILITIES | $15.9B |
| Long-Term Debt | $135M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $152M |
| TOTAL NON-CURRENT LIABILITIES | $346M |
| TOTAL LIABILITIES | $16.3B |
| Common Stock | $146.0K |
| Additional Paid-In Capital | $1.5B |
| Retained Earnings | $1.2B |
| Treasury Stock | -$265M |
| Accum. Other Comp. Income | -$154M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.3B |
| TOTAL LIABILITIES & EQUITY | $18.5B |
| Total Debt | $224M |
| Net Debt | -$231M |
