| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.8B | $2.8B | $1.9B | 1.3% | 51.9% |
| Op. Income | $602M | $539M | -$506M | 11.7% | 219.0% |
| Gross Margin | 62.8% | 60.5% | 29.3% | 2.3pp | 33.5pp |
| Net Margin | 17.3% | 15.2% | -22.0% | 2.1pp | 39.2pp |
| EPS (Diluted) | $0.41 | $0.35 | $-0.47 | 17.1% | 187.2% |
| Free Cash Flow | $367M | $1.2B | -$1.2B | -69.7% | 130.0% |
| Item | Amount |
|---|---|
| REVENUE | $2.8B |
| Cost of Revenue | $1.1B |
| GROSS PROFIT | $1.8B |
| R&D Expenses | $0 |
| Selling & Marketing | $22M |
| General & Administrative | $871M |
| SG&A Expenses | $893M |
| Other Expenses | $284M |
| Operating Expenses | $1.2B |
| Cost & Expenses | $2.2B |
| OPERATING INCOME | $602M |
| Interest Income | $2.1B |
| Interest Expense | $947M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $602M |
| Income Tax Expense | $112M |
| Net Income from Continuing Ops | $490M |
| Net Income from Discontinued Ops | -$1M |
| Other Adjustments | $0 |
| NET INCOME | $489M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $453M |
| D&A | $7M |
| EBIT | $602M |
| EBITDA | $609M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $2.8B |
| Cost of Revenue | $1.1B |
| GROSS PROFIT | $1.8B |
| R&D Expenses | $0 |
| Selling & Marketing | $22M |
| General & Administrative | $871M |
| SG&A Expenses | $893M |
| Other Expenses | $284M |
| Operating Expenses | $1.2B |
| Cost & Expenses | $2.2B |
| OPERATING INCOME | $602M |
| Interest Income | $2.1B |
| Interest Expense | $947M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $602M |
| Income Tax Expense | $112M |
| Net Income from Continuing Ops | $490M |
| Net Income from Discontinued Ops | -$1M |
| Other Adjustments | $0 |
| NET INCOME | $489M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $453M |
| D&A | $7M |
| EBIT | $602M |
| EBITDA | $609M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $489M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $36M |
| Deferred Income Tax | -$31M |
| Other Non-Cash Items | -$374M |
| Change in Working Capital | $269M |
| OPERATING CASH FLOW | $396M |
| Capital Expenditure | -$29M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1.9B |
| Sales/Maturities of Investments | $350M |
| Other Investing Activities | $426M |
| NET CASH FROM INVESTING | -$1.2B |
| Net Debt Issuance | -$2.6B |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$264M |
| Other Financing Activities | $3.9B |
| NET CASH FROM FINANCING | $979M |
| FREE CASH FLOW | $367M |
| Net Change in Cash | $172M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.9B |
| Short-Term Investments | $14.3B |
| Net Receivables | $2.3B |
| Inventory | $0 |
| Other Current Assets | -$2.3B |
| TOTAL CURRENT ASSETS | $16.2B |
| PP&E (Net) | $606M |
| Goodwill | $2.8B |
| Intangible Assets | $13M |
| Long-Term Investments | $154.3B |
| Tax Assets | $0 |
| Other Non-Current Assets | $13.5B |
| TOTAL NON-CURRENT ASSETS | $171.2B |
| TOTAL ASSETS | $187.4B |
| Account Payables | $0 |
| Short-Term Debt | $1.3B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $146.8B |
| TOTAL CURRENT LIABILITIES | $152.1B |
| Long-Term Debt | $10.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4.3B |
| TOTAL NON-CURRENT LIABILITIES | $15.2B |
| TOTAL LIABILITIES | $167.3B |
| Common Stock | $1.3B |
| Additional Paid-In Capital | $6.0B |
| Retained Earnings | $15.1B |
| Treasury Stock | -$2.6B |
| Accum. Other Comp. Income | -$2.1B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $20.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $20.1B |
| TOTAL LIABILITIES & EQUITY | $187.4B |
| Total Debt | $12.3B |
| Net Debt | $10.3B |
