| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.8B | $1.5B | $1.7B | 15.0% | 2.2% |
| Op. Income | $334M | $86M | $318M | 287.1% | 5.2% |
| Gross Margin | 64.6% | 68.9% | 66.5% | -4.3pp | -1.9pp |
| Net Margin | 13.8% | 2.3% | 23.2% | 11.5pp | -9.4pp |
| EPS (Diluted) | $3.36 | $0.47 | $5.11 | 614.9% | -34.2% |
| Free Cash Flow | $271M | $269M | $311M | 0.5% | -13.1% |
| Item | Amount |
|---|---|
| REVENUE | $1.8B |
| Cost of Revenue | $621M |
| GROSS PROFIT | $1.1B |
| R&D Expenses | $573M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $798M |
| Other Expenses | -$573M |
| Operating Expenses | $798M |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | $334M |
| Interest Income | $0 |
| Interest Expense | $19M |
| Other Income/Expenses | -$20M |
| INCOME BEFORE TAX | $314M |
| Income Tax Expense | $72M |
| Net Income from Continuing Ops | $242M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $242M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $242M |
| D&A | $48M |
| EBIT | $333M |
| EBITDA | $381M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $1.8B |
| Cost of Revenue | $621M |
| GROSS PROFIT | $1.1B |
| R&D Expenses | $573M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $798M |
| Other Expenses | -$573M |
| Operating Expenses | $798M |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | $334M |
| Interest Income | $0 |
| Interest Expense | $19M |
| Other Income/Expenses | -$20M |
| INCOME BEFORE TAX | $314M |
| Income Tax Expense | $72M |
| Net Income from Continuing Ops | $242M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $242M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $242M |
| D&A | $48M |
| EBIT | $333M |
| EBITDA | $381M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $242M |
| Depreciation & Amortization | $48M |
| Stock-Based Compensation | $32M |
| Deferred Income Tax | $44M |
| Other Non-Cash Items | $16M |
| Change in Working Capital | -$87M |
| OPERATING CASH FLOW | $295M |
| Capital Expenditure | -$24M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$24M |
| Net Debt Issuance | $519M |
| Common Stock Repurchased | -$498M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $28M |
| FREE CASH FLOW | $271M |
| Net Change in Cash | $292M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.7B |
| Short-Term Investments | $0 |
| Net Receivables | $1.7B |
| Inventory | $0 |
| Other Current Assets | $619M |
| TOTAL CURRENT ASSETS | $4.1B |
| PP&E (Net) | $428M |
| Goodwill | $2.7B |
| Intangible Assets | $336M |
| Long-Term Investments | $0 |
| Tax Assets | $245M |
| Other Non-Current Assets | $268M |
| TOTAL NON-CURRENT ASSETS | $4.0B |
| TOTAL ASSETS | $8.1B |
| Account Payables | $50M |
| Short-Term Debt | $5M |
| Deferred Revenue | $2.8B |
| Other Current Liabilities | $575M |
| TOTAL CURRENT LIABILITIES | $4.1B |
| Long-Term Debt | $3.0B |
| Deferred Revenue NC | $32M |
| Deferred Tax Liabilities | $29M |
| Other Non-Current Liabilities | $386M |
| TOTAL NON-CURRENT LIABILITIES | $3.7B |
| TOTAL LIABILITIES | $7.8B |
| Common Stock | $82.0K |
| Additional Paid-In Capital | $2.7B |
| Retained Earnings | $6.7B |
| Treasury Stock | -$9.0B |
| Accum. Other Comp. Income | -$41M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $320M |
| Minority Interest | $0 |
| TOTAL EQUITY | $320M |
| TOTAL LIABILITIES & EQUITY | $8.1B |
| Total Debt | $3.3B |
| Net Debt | $1.6B |
