| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.3B | $1.3B | $1.3B | -2.2% | 0.2% |
| Op. Income | $124M | $166M | $113M | -25.5% | 9.7% |
| Gross Margin | 23.6% | 25.0% | 21.2% | -1.4pp | 2.4pp |
| Net Margin | 5.7% | 7.9% | 5.5% | -2.1pp | 0.2pp |
| EPS (Diluted) | $1.32 | $1.86 | $1.19 | -29.0% | 10.9% |
| Free Cash Flow | $642M | -$198M | $132M | 423.8% | 386.7% |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $1.0B |
| GROSS PROFIT | $311M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $187M |
| Other Expenses | $0 |
| Operating Expenses | $187M |
| Cost & Expenses | $1.2B |
| OPERATING INCOME | $124M |
| Interest Income | $0 |
| Interest Expense | $22M |
| Other Income/Expenses | -$23M |
| INCOME BEFORE TAX | $100M |
| Income Tax Expense | $25M |
| Net Income from Continuing Ops | $75M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $75M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $75M |
| D&A | $37M |
| EBIT | $123M |
| EBITDA | $160M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $1.0B |
| GROSS PROFIT | $311M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $187M |
| Other Expenses | $0 |
| Operating Expenses | $187M |
| Cost & Expenses | $1.2B |
| OPERATING INCOME | $124M |
| Interest Income | $0 |
| Interest Expense | $22M |
| Other Income/Expenses | -$23M |
| INCOME BEFORE TAX | $100M |
| Income Tax Expense | $25M |
| Net Income from Continuing Ops | $75M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $75M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $75M |
| D&A | $37M |
| EBIT | $123M |
| EBITDA | $160M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $75M |
| Depreciation & Amortization | $37M |
| Stock-Based Compensation | $11M |
| Deferred Income Tax | -$11M |
| Other Non-Cash Items | $942.0K |
| Change in Working Capital | $536M |
| OPERATING CASH FLOW | $649M |
| Capital Expenditure | -$8M |
| Acquisitions (Net) | $4M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$324M |
| Common Stock Repurchased | -$141M |
| Common Dividends Paid | -$17M |
| Other Financing Activities | -$9M |
| NET CASH FROM FINANCING | -$491M |
| FREE CASH FLOW | $642M |
| Net Change in Cash | $117M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $260M |
| Short-Term Investments | $0 |
| Net Receivables | $902M |
| Inventory | $0 |
| Other Current Assets | $90M |
| TOTAL CURRENT ASSETS | $1.3B |
| PP&E (Net) | $131M |
| Goodwill | $1.8B |
| Intangible Assets | $753M |
| Long-Term Investments | $6M |
| Tax Assets | $11M |
| Other Non-Current Assets | $134M |
| TOTAL NON-CURRENT ASSETS | $2.8B |
| TOTAL ASSETS | $4.1B |
| Account Payables | $297M |
| Short-Term Debt | $91M |
| Deferred Revenue | $54M |
| Other Current Liabilities | $69M |
| TOTAL CURRENT LIABILITIES | $765M |
| Long-Term Debt | $1.3B |
| Deferred Revenue NC | $44M |
| Deferred Tax Liabilities | $149M |
| Other Non-Current Liabilities | $85M |
| TOTAL NON-CURRENT LIABILITIES | $1.6B |
| TOTAL LIABILITIES | $2.4B |
| Common Stock | $628M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$18M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.7B |
| TOTAL LIABILITIES & EQUITY | $4.1B |
| Total Debt | $1.4B |
| Net Debt | $1.2B |
