| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.9B | $2.8B | $1.9B | 1.0% | 52.6% |
| Op. Income | $648M | $602M | -$413M | 7.6% | 256.9% |
| Gross Margin | 66.0% | 62.8% | 40.2% | 3.3pp | 25.8pp |
| Net Margin | 17.8% | 17.3% | -13.0% | 0.6pp | 30.9pp |
| EPS (Diluted) | $0.43 | $0.41 | $-0.28 | 4.9% | 253.6% |
| Free Cash Flow | $673M | $367M | $1.7B | 83.4% | -60.5% |
| Item | Amount |
|---|---|
| REVENUE | $2.9B |
| Cost of Revenue | $971M |
| GROSS PROFIT | $1.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $22M |
| General & Administrative | $790M |
| SG&A Expenses | $812M |
| Other Expenses | $429M |
| Operating Expenses | $1.2B |
| Cost & Expenses | $2.2B |
| OPERATING INCOME | $648M |
| Interest Income | $2.1B |
| Interest Expense | $863M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $648M |
| Income Tax Expense | $138M |
| Net Income from Continuing Ops | $510M |
| Net Income from Discontinued Ops | $1M |
| Other Adjustments | $0 |
| NET INCOME | $510M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $475M |
| D&A | $0 |
| EBIT | $648M |
| EBITDA | $648M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $2.9B |
| Cost of Revenue | $971M |
| GROSS PROFIT | $1.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $22M |
| General & Administrative | $790M |
| SG&A Expenses | $812M |
| Other Expenses | $429M |
| Operating Expenses | $1.2B |
| Cost & Expenses | $2.2B |
| OPERATING INCOME | $648M |
| Interest Income | $2.1B |
| Interest Expense | $863M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $648M |
| Income Tax Expense | $138M |
| Net Income from Continuing Ops | $510M |
| Net Income from Discontinued Ops | $1M |
| Other Adjustments | $0 |
| NET INCOME | $510M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $475M |
| D&A | $0 |
| EBIT | $648M |
| EBITDA | $648M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $510M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $33M |
| Deferred Income Tax | $19M |
| Other Non-Cash Items | -$27M |
| Change in Working Capital | $180M |
| OPERATING CASH FLOW | $718M |
| Capital Expenditure | -$45M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$2.7B |
| Sales/Maturities of Investments | $5.8B |
| Other Investing Activities | -$649M |
| NET CASH FROM INVESTING | $2.4B |
| Net Debt Issuance | -$1.3B |
| Common Stock Repurchased | -$200M |
| Common Dividends Paid | -$262M |
| Other Financing Activities | -$2.1B |
| NET CASH FROM FINANCING | -$3.8B |
| FREE CASH FLOW | $673M |
| Net Change in Cash | -$651M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.3B |
| Short-Term Investments | $10.2B |
| Net Receivables | $105.1B |
| Inventory | $0 |
| Other Current Assets | $2.1B |
| TOTAL CURRENT ASSETS | $118.7B |
| PP&E (Net) | $628M |
| Goodwill | $2.8B |
| Intangible Assets | $8M |
| Long-Term Investments | $49.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $13.1B |
| TOTAL NON-CURRENT ASSETS | $65.7B |
| TOTAL ASSETS | $184.4B |
| Account Payables | $148.7B |
| Short-Term Debt | $1.1B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $154.1B |
| Long-Term Debt | $9.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $9.9B |
| TOTAL LIABILITIES | $164.0B |
| Common Stock | $1.3B |
| Additional Paid-In Capital | $6.0B |
| Retained Earnings | $15.4B |
| Treasury Stock | -$2.8B |
| Accum. Other Comp. Income | -$2.0B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $20.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $20.4B |
| TOTAL LIABILITIES & EQUITY | $184.4B |
| Total Debt | $11.0B |
| Net Debt | $9.7B |
