| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $621M | $654M | $551M | -5.0% | 12.7% |
| Op. Income | $69M | $57M | $47M | 21.3% | 45.7% |
| Gross Margin | 39.0% | 36.6% | 39.2% | 2.4pp | -0.2pp |
| Net Margin | 11.1% | 7.9% | 7.4% | 3.2pp | 3.7pp |
| EPS (Diluted) | $1.40 | $1.03 | $0.94 | 35.9% | 48.9% |
| Free Cash Flow | -$217M | $284M | -$157M | -176.7% | -38.7% |
| Item | Amount |
|---|---|
| REVENUE | $621M |
| Cost of Revenue | $379M |
| GROSS PROFIT | $242M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $173M |
| Other Expenses | $0 |
| Operating Expenses | $173M |
| Cost & Expenses | $552M |
| OPERATING INCOME | $69M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | $14M |
| INCOME BEFORE TAX | $83M |
| Income Tax Expense | $14M |
| Net Income from Continuing Ops | $69M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $69M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $69M |
| D&A | $29M |
| EBIT | $86M |
| EBITDA | $115M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $621M |
| Cost of Revenue | $379M |
| GROSS PROFIT | $242M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $173M |
| Other Expenses | $0 |
| Operating Expenses | $173M |
| Cost & Expenses | $552M |
| OPERATING INCOME | $69M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | $14M |
| INCOME BEFORE TAX | $83M |
| Income Tax Expense | $14M |
| Net Income from Continuing Ops | $69M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $69M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $69M |
| D&A | $29M |
| EBIT | $86M |
| EBITDA | $115M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $69M |
| Depreciation & Amortization | $29M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | $49M |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$356M |
| OPERATING CASH FLOW | -$196M |
| Capital Expenditure | -$22M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$62M |
| Sales/Maturities of Investments | $62M |
| Other Investing Activities | -$24M |
| NET CASH FROM INVESTING | -$25M |
| Net Debt Issuance | -$12M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$32M |
| NET CASH FROM FINANCING | -$44M |
| FREE CASH FLOW | -$217M |
| Net Change in Cash | -$264M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $518M |
| Short-Term Investments | $197M |
| Net Receivables | $809M |
| Inventory | $20M |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $1.7B |
| PP&E (Net) | $113M |
| Goodwill | $247M |
| Intangible Assets | $152M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $171M |
| TOTAL NON-CURRENT ASSETS | $683M |
| TOTAL ASSETS | $2.3B |
| Account Payables | $56M |
| Short-Term Debt | $0 |
| Deferred Revenue | $19M |
| Other Current Liabilities | $44M |
| TOTAL CURRENT LIABILITIES | $244M |
| Long-Term Debt | $417M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $22M |
| Other Non-Current Liabilities | $18M |
| TOTAL NON-CURRENT LIABILITIES | $562M |
| TOTAL LIABILITIES | $806M |
| Common Stock | $4.0K |
| Additional Paid-In Capital | $715M |
| Retained Earnings | $915M |
| Treasury Stock | -$102M |
| Accum. Other Comp. Income | -$64.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.5B |
| TOTAL LIABILITIES & EQUITY | $2.3B |
| Total Debt | $588M |
| Net Debt | $70M |
