| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $370M | $633M | — | -41.6% | — |
| Op. Income | $178M | $165M | — | 8.4% | — |
| Gross Margin | 40.2% | 61.1% | — | -20.9pp | — |
| Net Margin | 35.7% | 20.7% | — | 14.9pp | — |
| EPS (Diluted) | $1.20 | $1.18 | — | 1.7% | — |
| Free Cash Flow | $627M | -$26M | — | 2549.7% | — |
| Item | Amount |
|---|---|
| REVENUE | $370M |
| Cost of Revenue | $221M |
| GROSS PROFIT | $149M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $83M |
| SG&A Expenses | $83M |
| Other Expenses | -$112M |
| Operating Expenses | -$29M |
| Cost & Expenses | $192M |
| OPERATING INCOME | $178M |
| Interest Income | $495M |
| Interest Expense | $156M |
| Other Income/Expenses | -$611.3K |
| INCOME BEFORE TAX | $178M |
| Income Tax Expense | $46M |
| Net Income from Continuing Ops | $132M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $611.3K |
| NET INCOME | $132M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $132M |
| D&A | $0 |
| EBIT | $178M |
| EBITDA | $178M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $370M |
| Cost of Revenue | $221M |
| GROSS PROFIT | $149M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $83M |
| SG&A Expenses | $83M |
| Other Expenses | -$112M |
| Operating Expenses | -$29M |
| Cost & Expenses | $192M |
| OPERATING INCOME | $178M |
| Interest Income | $495M |
| Interest Expense | $156M |
| Other Income/Expenses | -$611.3K |
| INCOME BEFORE TAX | $178M |
| Income Tax Expense | $46M |
| Net Income from Continuing Ops | $132M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $611.3K |
| NET INCOME | $132M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $132M |
| D&A | $0 |
| EBIT | $178M |
| EBITDA | $178M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $132M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $63M |
| Change in Working Capital | $477M |
| OPERATING CASH FLOW | $672M |
| Capital Expenditure | -$44M |
| Acquisitions (Net) | $995.6K |
| Purchases of Investments | -$74M |
| Sales/Maturities of Investments | $8M |
| Other Investing Activities | -$192M |
| NET CASH FROM INVESTING | -$328M |
| Net Debt Issuance | -$480M |
| Common Stock Repurchased | -$13M |
| Common Dividends Paid | -$5M |
| Other Financing Activities | $576M |
| NET CASH FROM FINANCING | $78M |
| FREE CASH FLOW | $627M |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3.5B |
| Short-Term Investments | $31M |
| Net Receivables | $297M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $3.8B |
| PP&E (Net) | $280M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $23.5B |
| Tax Assets | $12M |
| Other Non-Current Assets | $633M |
| TOTAL NON-CURRENT ASSETS | $24.9B |
| TOTAL ASSETS | $28.7B |
| Account Payables | $0 |
| Short-Term Debt | $1.8B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $1.8B |
| Long-Term Debt | $1.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $39M |
| Other Non-Current Liabilities | $21.4B |
| TOTAL NON-CURRENT LIABILITIES | $23.3B |
| TOTAL LIABILITIES | $25.1B |
| Common Stock | $301M |
| Additional Paid-In Capital | $154M |
| Retained Earnings | $632M |
| Treasury Stock | -$136M |
| Accum. Other Comp. Income | -$10M |
| Other Equity | $2.6B |
| TOTAL STOCKHOLDERS' EQUITY | $3.6B |
| Minority Interest | $21M |
| TOTAL EQUITY | $3.6B |
| TOTAL LIABILITIES & EQUITY | $28.7B |
| Total Debt | $3.7B |
| Net Debt | $230M |
