| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5.8B | $5.3B | $5.1B | 11.3% | 14.5% |
| Op. Income | $1.7B | $3.2B | $2.9B | -48.9% | -42.7% |
| Gross Margin | 62.1% | 72.6% | 70.6% | -10.5pp | -8.5pp |
| Net Margin | 19.1% | 45.2% | 59.5% | -26.1pp | -40.4pp |
| EPS (Diluted) | $0.66 | $1.41 | $1.79 | -53.2% | -63.1% |
| Free Cash Flow | $3.2B | $3.0B | $3.3B | 4.6% | -3.5% |
| Item | Amount |
|---|---|
| REVENUE | $5.8B |
| Cost of Revenue | $2.2B |
| GROSS PROFIT | $3.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $618M |
| General & Administrative | $0 |
| SG&A Expenses | $618M |
| Other Expenses | $1.4B |
| Operating Expenses | $2.0B |
| Cost & Expenses | $4.2B |
| OPERATING INCOME | $1.7B |
| Interest Income | $0 |
| Interest Expense | $264M |
| Other Income/Expenses | -$138M |
| INCOME BEFORE TAX | $1.5B |
| Income Tax Expense | $396M |
| Net Income from Continuing Ops | $1.1B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.1B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.1B |
| D&A | $20M |
| EBIT | $1.8B |
| EBITDA | $1.8B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $5.8B |
| Cost of Revenue | $2.2B |
| GROSS PROFIT | $3.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $618M |
| General & Administrative | $0 |
| SG&A Expenses | $618M |
| Other Expenses | $1.4B |
| Operating Expenses | $2.0B |
| Cost & Expenses | $4.2B |
| OPERATING INCOME | $1.7B |
| Interest Income | $0 |
| Interest Expense | $264M |
| Other Income/Expenses | -$138M |
| INCOME BEFORE TAX | $1.5B |
| Income Tax Expense | $396M |
| Net Income from Continuing Ops | $1.1B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.1B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.1B |
| D&A | $20M |
| EBIT | $1.8B |
| EBITDA | $1.8B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $1.1B |
| Depreciation & Amortization | $54M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$122M |
| Other Non-Cash Items | $1.2B |
| Change in Working Capital | $1.0B |
| OPERATING CASH FLOW | $3.3B |
| Capital Expenditure | -$92M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$110M |
| NET CASH FROM INVESTING | -$202M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$288M |
| Common Dividends Paid | -$1.8B |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$2.1B |
| FREE CASH FLOW | $3.2B |
| Net Change in Cash | $1.0B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4.5B |
| Short-Term Investments | $0 |
| Net Receivables | $263M |
| Inventory | $1.1B |
| Other Current Assets | -$263M |
| TOTAL CURRENT ASSETS | $5.5B |
| PP&E (Net) | $1.7B |
| Goodwill | $5.8B |
| Intangible Assets | $11.9B |
| Long-Term Investments | $8.6B |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $28.0B |
| TOTAL ASSETS | $35.0B |
| Account Payables | $750M |
| Short-Term Debt | $1.6B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $6.8B |
| TOTAL CURRENT LIABILITIES | $9.2B |
| Long-Term Debt | $24.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3.4B |
| Other Non-Current Liabilities | $1.8B |
| TOTAL NON-CURRENT LIABILITIES | $29.3B |
| TOTAL LIABILITIES | $38.5B |
| Common Stock | $935M |
| Additional Paid-In Capital | $5.9B |
| Retained Earnings | $0 |
| Treasury Stock | -$43.2B |
| Accum. Other Comp. Income | $32.8B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$3.5B |
| Minority Interest | $50M |
| TOTAL EQUITY | -$3.5B |
| TOTAL LIABILITIES & EQUITY | $35.0B |
| Total Debt | $25.7B |
| Net Debt | $21.2B |
