FY 2025 Earnings

Reported December 30, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$884M	—	$848M	—	4.3%
Op. Income	$255M	—	$182M	—	40.1%
Gross Margin	80.1%	—	64.9%	—	15.2pp
Net Margin	24.7%	—	18.2%	—	6.5pp
EPS (Diluted)	$4.18	—	$2.90	—	43.9%

Revenue Flow

Item	Amount
REVENUE	$884M
Cost of Revenue	$176M
GROSS PROFIT	$709M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$453M
Operating Expenses	$453M
Cost & Expenses	$629M
OPERATING INCOME	$255M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$11M
INCOME BEFORE TAX	$266M
Income Tax Expense	$48M
Net Income from Continuing Ops	$218M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$218M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$218M
D&A	$0
EBIT	$266M
EBITDA	$266M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$884M
Cost of Revenue	$176M
GROSS PROFIT	$709M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$453M
Operating Expenses	$453M
Cost & Expenses	$629M
OPERATING INCOME	$255M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$11M
INCOME BEFORE TAX	$266M
Income Tax Expense	$48M
Net Income from Continuing Ops	$218M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$218M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$218M
D&A	$0
EBIT	$266M
EBITDA	$266M
EPS	$4
EPS Diluted	$4

Balance Sheet

Item	Amount
Cash & Equivalents	$70M
Short-Term Investments	$0
Net Receivables	$634M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$703M
PP&E (Net)	$199M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$44M
Tax Assets	$14M
Other Non-Current Assets	$320M
TOTAL NON-CURRENT ASSETS	$577M
TOTAL ASSETS	$1.3B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$98M
Deferred Revenue NC	$67M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$463M
TOTAL NON-CURRENT LIABILITIES	$632M
TOTAL LIABILITIES	$632M
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$648M
TOTAL STOCKHOLDERS' EQUITY	$648M
Minority Interest	$0
TOTAL EQUITY	$648M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$102M
Net Debt	$33M