| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $165M | $301M | $129M | -45.2% | 28.0% |
| Op. Income | $76M | $205M | $39M | -63.1% | 92.7% |
| Gross Margin | 82.0% | 92.0% | 78.7% | -10.0pp | 3.4pp |
| Net Margin | 41.0% | 60.1% | 26.6% | -19.1pp | 14.4pp |
| EPS (Diluted) | $1.93 | $5.35 | $1.14 | -63.9% | 69.3% |
| Free Cash Flow | $396M | $105M | $77M | 278.7% | 416.2% |
| Item | Amount |
|---|---|
| REVENUE | $165M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $135M |
| R&D Expenses | $53M |
| Selling & Marketing | $0 |
| General & Administrative | $16M |
| SG&A Expenses | $16M |
| Other Expenses | -$10M |
| Operating Expenses | $59M |
| Cost & Expenses | $89M |
| OPERATING INCOME | $76M |
| Interest Income | $9M |
| Interest Expense | $10M |
| Other Income/Expenses | $169.0K |
| INCOME BEFORE TAX | $76M |
| Income Tax Expense | $8M |
| 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 | $20M |
| EBIT | $86M |
| EBITDA | $106M |
| EPS | $3 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $165M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $135M |
| R&D Expenses | $53M |
| Selling & Marketing | $0 |
| General & Administrative | $16M |
| SG&A Expenses | $16M |
| Other Expenses | -$10M |
| Operating Expenses | $59M |
| Cost & Expenses | $89M |
| OPERATING INCOME | $76M |
| Interest Income | $9M |
| Interest Expense | $10M |
| Other Income/Expenses | $169.0K |
| INCOME BEFORE TAX | $76M |
| Income Tax Expense | $8M |
| 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 | $20M |
| EBIT | $86M |
| EBITDA | $106M |
| EPS | $3 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $68M |
| Depreciation & Amortization | $20M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | -$58M |
| Other Non-Cash Items | $119M |
| Change in Working Capital | $238M |
| OPERATING CASH FLOW | $396M |
| Capital Expenditure | -$589.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$81M |
| Sales/Maturities of Investments | $82M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$15M |
| Net Debt Issuance | -$14.0K |
| Common Stock Repurchased | -$35M |
| Common Dividends Paid | -$16M |
| Other Financing Activities | -$11M |
| NET CASH FROM FINANCING | -$61M |
| FREE CASH FLOW | $396M |
| Net Change in Cash | $320M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $840M |
| Short-Term Investments | $423M |
| Net Receivables | $186M |
| Inventory | $0 |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $39M |
| Goodwill | $22M |
| Intangible Assets | $314M |
| Long-Term Investments | $13M |
| Tax Assets | $155M |
| Other Non-Current Assets | $116M |
| TOTAL NON-CURRENT ASSETS | $659M |
| TOTAL ASSETS | $2.1B |
| Account Payables | $9M |
| Short-Term Debt | $456M |
| Deferred Revenue | $235M |
| Other Current Liabilities | $38M |
| TOTAL CURRENT LIABILITIES | $785M |
| Long-Term Debt | $17M |
| Deferred Revenue NC | $177M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $46M |
| TOTAL NON-CURRENT LIABILITIES | $254M |
| TOTAL LIABILITIES | $1.0B |
| Common Stock | $709.0K |
| Additional Paid-In Capital | $804M |
| Retained Earnings | $2.1B |
| Treasury Stock | -$1.8B |
| Accum. Other Comp. Income | $220.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $2.1B |
| Total Debt | $488M |
| Net Debt | -$353M |
