Q4 2025 Earnings

Revenue

$23.8B+29.1% YoY

Gross Profit

$7.3B30.5% margin

Operating Income

$1.1B4.7% margin

Net Income

$809M3.4% margin

EPS (Diluted)

$1.17

QoQ Revenue Growth

+41.1%

Operating Cash Flow

$8.1B

Free Cash Flow

$8.1B

Stock-Based Comp.

Total Assets

$741.7B

Total Liabilities

$716.2B

Stockholders' Equity

$28.4B

Cash & Equivalents

$22.0B

Metric	Current	Year Ago	Change
Revenue	$23.8B	$18.4B	+29.1%
Gross Profit	$7.3B	$4.9B	+49.5%
Operating Income	$1.1B	$1.4B	-19.1%
Net Income	$809M	$1.3B	-36.3%

Prepaid legal plans and administrative-only contracts

$319M26%

Vision fee for service arrangements

$294M24%

Other revenue from service contracts from customers

$249M21%

Administrative Service

$150M12%

Fee-based investment management services

$127M10%

Distribution Service

$72M6%