| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $515M | $500M | $522M | 3.0% | -1.4% |
| Op. Income | $160M | $145M | $145M | 10.9% | 10.4% |
| Gross Margin | 72.4% | 71.9% | 66.3% | 0.5pp | 6.2pp |
| Net Margin | 24.7% | 22.7% | 22.1% | 2.0pp | 2.6pp |
| EPS (Diluted) | $1.49 | $1.32 | $1.33 | 12.9% | 12.0% |
| Free Cash Flow | $155M | $122M | $159M | 27.0% | -2.3% |
| Item | Amount |
|---|---|
| REVENUE | $515M |
| Cost of Revenue | $142M |
| GROSS PROFIT | $373M |
| R&D Expenses | $0 |
| Selling & Marketing | $53M |
| General & Administrative | $53M |
| SG&A Expenses | $106M |
| Other Expenses | $106M |
| Operating Expenses | $213M |
| Cost & Expenses | $355M |
| OPERATING INCOME | $160M |
| Interest Income | $282M |
| Interest Expense | $131M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $160M |
| Income Tax Expense | $33M |
| Net Income from Continuing Ops | $127M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $127M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $127M |
| D&A | $8M |
| EBIT | $160M |
| EBITDA | $168M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $515M |
| Cost of Revenue | $142M |
| GROSS PROFIT | $373M |
| R&D Expenses | $0 |
| Selling & Marketing | $53M |
| General & Administrative | $53M |
| SG&A Expenses | $106M |
| Other Expenses | $106M |
| Operating Expenses | $213M |
| Cost & Expenses | $355M |
| OPERATING INCOME | $160M |
| Interest Income | $282M |
| Interest Expense | $131M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $160M |
| Income Tax Expense | $33M |
| Net Income from Continuing Ops | $127M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $127M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $127M |
| D&A | $8M |
| EBIT | $160M |
| EBITDA | $168M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $127M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $13M |
| Other Non-Cash Items | $29M |
| Change in Working Capital | -$24M |
| OPERATING CASH FLOW | $159M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$204M |
| Sales/Maturities of Investments | $275M |
| Other Investing Activities | -$606M |
| NET CASH FROM INVESTING | -$539M |
| Net Debt Issuance | $847M |
| Common Stock Repurchased | -$40M |
| Common Dividends Paid | -$38M |
| Other Financing Activities | -$387M |
| NET CASH FROM FINANCING | $382M |
| FREE CASH FLOW | $155M |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.4B |
| Short-Term Investments | $166M |
| Net Receivables | $142M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.8B |
| PP&E (Net) | $364M |
| Goodwill | $925M |
| Intangible Assets | $70M |
| Long-Term Investments | $31.1B |
| Tax Assets | $75M |
| Other Non-Current Assets | $1.4B |
| TOTAL NON-CURRENT ASSETS | $34.0B |
| TOTAL ASSETS | $35.8B |
| Account Payables | $17M |
| Short-Term Debt | $1.9B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $28.7B |
| TOTAL CURRENT LIABILITIES | $30.6B |
| Long-Term Debt | $211M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $365M |
| TOTAL NON-CURRENT LIABILITIES | $698M |
| TOTAL LIABILITIES | $31.3B |
| Common Stock | $310M |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | $2.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$416M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.5B |
| TOTAL LIABILITIES & EQUITY | $35.8B |
| Total Debt | $2.2B |
| Net Debt | $824M |
