| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $350M | $331M | $302M | 5.5% | 15.8% |
| Op. Income | $57M | $54M | $18M | 6.0% | 217.8% |
| Gross Margin | 62.9% | 63.0% | 51.1% | -0.1pp | 11.8pp |
| Net Margin | 12.7% | 11.5% | 4.8% | 1.1pp | 7.9pp |
| EPS (Diluted) | $0.37 | $0.33 | $0.13 | 12.1% | 184.6% |
| Free Cash Flow | -$792M | -$804M | -$682M | 1.5% | -16.1% |
| Item | Amount |
|---|---|
| REVENUE | $350M |
| Cost of Revenue | $130M |
| GROSS PROFIT | $220M |
| R&D Expenses | $0 |
| Selling & Marketing | $41M |
| General & Administrative | $61M |
| SG&A Expenses | $102M |
| Other Expenses | $61M |
| Operating Expenses | $163M |
| Cost & Expenses | $292M |
| OPERATING INCOME | $57M |
| Interest Income | $242M |
| Interest Expense | $83M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $57M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | $44M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $44M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $44M |
| D&A | $17M |
| EBIT | $57M |
| EBITDA | $74M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $350M |
| Cost of Revenue | $130M |
| GROSS PROFIT | $220M |
| R&D Expenses | $0 |
| Selling & Marketing | $41M |
| General & Administrative | $61M |
| SG&A Expenses | $102M |
| Other Expenses | $61M |
| Operating Expenses | $163M |
| Cost & Expenses | $292M |
| OPERATING INCOME | $57M |
| Interest Income | $242M |
| Interest Expense | $83M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $57M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | $44M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $44M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $44M |
| D&A | $17M |
| EBIT | $57M |
| EBITDA | $74M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $44M |
| Depreciation & Amortization | $17M |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$807M |
| Change in Working Capital | -$34M |
| OPERATING CASH FLOW | -$771M |
| Capital Expenditure | -$21M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$25M |
| Sales/Maturities of Investments | $473M |
| Other Investing Activities | $170M |
| NET CASH FROM INVESTING | $596M |
| Net Debt Issuance | $252M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | $246M |
| FREE CASH FLOW | -$792M |
| Net Change in Cash | $71M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $846M |
| Short-Term Investments | $3.7B |
| Net Receivables | $85M |
| Inventory | $0 |
| Other Current Assets | -$85M |
| TOTAL CURRENT ASSETS | $3.8B |
| PP&E (Net) | $250M |
| Goodwill | $76M |
| Intangible Assets | $8M |
| Long-Term Investments | $9.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$9.5B |
| TOTAL NON-CURRENT ASSETS | $326M |
| TOTAL ASSETS | $11.1B |
| Account Payables | $81M |
| Short-Term Debt | $3M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $9.4B |
| TOTAL CURRENT LIABILITIES | $9.5B |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $122M |
| TOTAL NON-CURRENT LIABILITIES | $141M |
| TOTAL LIABILITIES | $9.6B |
| Common Stock | $1M |
| Additional Paid-In Capital | $1.7B |
| Retained Earnings | -$243M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$18M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.5B |
| TOTAL LIABILITIES & EQUITY | $11.1B |
| Total Debt | $69M |
| Net Debt | -$777M |
