| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $806M | $795M | $628M | 1.3% | 28.3% |
| Op. Income | $211M | $239M | $142M | -11.8% | 48.5% |
| Gross Margin | 97.8% | 98.2% | 98.5% | -0.4pp | -0.7pp |
| Net Margin | 19.1% | 26.4% | 16.4% | -7.3pp | 2.7pp |
| EPS (Diluted) | $1.48 | $2.04 | $1.00 | -27.5% | 48.0% |
| Free Cash Flow | $391M | $214M | $235M | 82.4% | 66.2% |
| Item | Amount |
|---|---|
| REVENUE | $806M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $788M |
| R&D Expenses | $258M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $302M |
| Other Expenses | $17M |
| Operating Expenses | $577M |
| Cost & Expenses | $595M |
| OPERATING INCOME | $211M |
| Interest Income | -$43M |
| Interest Expense | $0 |
| Other Income/Expenses | $29M |
| INCOME BEFORE TAX | $239M |
| Income Tax Expense | $86M |
| Net Income from Continuing Ops | $154M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $154M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $154M |
| D&A | $8M |
| EBIT | $228M |
| EBITDA | $235M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $806M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $788M |
| R&D Expenses | $258M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $302M |
| Other Expenses | $17M |
| Operating Expenses | $577M |
| Cost & Expenses | $595M |
| OPERATING INCOME | $211M |
| Interest Income | -$43M |
| Interest Expense | $0 |
| Other Income/Expenses | $29M |
| INCOME BEFORE TAX | $239M |
| Income Tax Expense | $86M |
| Net Income from Continuing Ops | $154M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $154M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $154M |
| D&A | $8M |
| EBIT | $228M |
| EBITDA | $235M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $154M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $59M |
| Deferred Income Tax | $48M |
| Other Non-Cash Items | $1M |
| Change in Working Capital | $119M |
| OPERATING CASH FLOW | $388M |
| Capital Expenditure | $2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$323M |
| Sales/Maturities of Investments | $268M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$53M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $37M |
| FREE CASH FLOW | $391M |
| Net Change in Cash | $373M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $713M |
| Short-Term Investments | $767M |
| Net Receivables | $687M |
| Inventory | $69M |
| Other Current Assets | $116M |
| TOTAL CURRENT ASSETS | $2.5B |
| PP&E (Net) | $545M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $1.2B |
| Tax Assets | $320M |
| Other Non-Current Assets | $60M |
| TOTAL NON-CURRENT ASSETS | $2.1B |
| TOTAL ASSETS | $4.6B |
| Account Payables | $105M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $424M |
| TOTAL CURRENT LIABILITIES | $743M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $220M |
| TOTAL NON-CURRENT LIABILITIES | $635M |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $100.0K |
| Additional Paid-In Capital | $2.8B |
| Retained Earnings | $448M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $13M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.3B |
| TOTAL LIABILITIES & EQUITY | $4.6B |
| Total Debt | $415M |
| Net Debt | -$298M |
