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	$1.9B	—	$2.1B	—	-9.9%
Op. Income	$331M	—	$334M	—	-1.0%
Gross Margin	72.3%	—	35.4%	—	36.9pp
Net Margin	12.8%	—	7.7%	—	5.0pp
EPS (Diluted)	$1.34	—	$0.95	—	40.9%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$519M
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.0B
Operating Expenses	$1.0B
Cost & Expenses	$1.5B
OPERATING INCOME	$331M
Interest Income	$302M
Interest Expense	$36M
Other Income/Expenses	-$36M
INCOME BEFORE TAX	$295M
Income Tax Expense	$57M
Net Income from Continuing Ops	$238M
Net Income from Discontinued Ops	$0
Other Adjustments	-$1
NET INCOME	$238M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$238M
D&A	$0
EBIT	$331M
EBITDA	$331M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$519M
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.0B
Operating Expenses	$1.0B
Cost & Expenses	$1.5B
OPERATING INCOME	$331M
Interest Income	$302M
Interest Expense	$36M
Other Income/Expenses	-$36M
INCOME BEFORE TAX	$295M
Income Tax Expense	$57M
Net Income from Continuing Ops	$238M
Net Income from Discontinued Ops	$0
Other Adjustments	-$1
NET INCOME	$238M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$238M
D&A	$0
EBIT	$331M
EBITDA	$331M
EPS	$1
EPS Diluted	$1

Balance Sheet

Item	Amount
Cash & Equivalents	$566M
Short-Term Investments	$11M
Net Receivables	$1.4B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.0B
PP&E (Net)	$131M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$49M
Tax Assets	$258M
Other Non-Current Assets	$941M
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$3.4B
Account Payables	$0
Short-Term Debt	$489M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$489M
Long-Term Debt	$207M
Deferred Revenue NC	$191M
Deferred Tax Liabilities	$15M
Other Non-Current Liabilities	$736M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$1.6B
Common Stock	$36.6K
Additional Paid-In Capital	$497M
Retained Earnings	$1.1B
Treasury Stock	-$72M
Accum. Other Comp. Income	$180M
Other Equity	$2
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$3.4B
Total Debt	$696M
Net Debt	$130M