| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $924M | — | $737M | — | 25.5% |
| Op. Income | $195M | — | $271M | — | -27.8% |
| Gross Margin | 33.1% | — | 29.7% | — | 3.3pp |
| Net Margin | 17.0% | — | 27.9% | — | -10.9pp |
| EPS (Diluted) | $1.05 | — | $1.48 | — | -29.1% |
| Free Cash Flow | $227M | — | $109M | — | 109.1% |
| Item | Amount |
|---|---|
| REVENUE | $924M |
| Cost of Revenue | $619M |
| GROSS PROFIT | $306M |
| R&D Expenses | $24M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $91M |
| Other Expenses | -$5M |
| Operating Expenses | $110M |
| Cost & Expenses | $729M |
| OPERATING INCOME | $195M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | $199M |
| Income Tax Expense | $41M |
| Net Income from Continuing Ops | $158M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $157M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $157M |
| D&A | $5M |
| EBIT | $191M |
| EBITDA | $196M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $924M |
| Cost of Revenue | $619M |
| GROSS PROFIT | $306M |
| R&D Expenses | $24M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $91M |
| Other Expenses | -$5M |
| Operating Expenses | $110M |
| Cost & Expenses | $729M |
| OPERATING INCOME | $195M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | $199M |
| Income Tax Expense | $41M |
| Net Income from Continuing Ops | $158M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $157M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $157M |
| D&A | $5M |
| EBIT | $191M |
| EBITDA | $196M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $157M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | $74M |
| OPERATING CASH FLOW | $237M |
| Capital Expenditure | -$10M |
| Acquisitions (Net) | -$8M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$18M |
| Net Debt Issuance | -$147M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$147M |
| FREE CASH FLOW | $227M |
| Net Change in Cash | $73M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $766M |
| Short-Term Investments | $0 |
| Net Receivables | $1.1B |
| Inventory | $209M |
| Other Current Assets | $88M |
| TOTAL CURRENT ASSETS | $2.2B |
| PP&E (Net) | $60M |
| Goodwill | $371M |
| Intangible Assets | $53M |
| Long-Term Investments | $0 |
| Tax Assets | $499M |
| Other Non-Current Assets | $51M |
| TOTAL NON-CURRENT ASSETS | $1.0B |
| TOTAL ASSETS | $3.2B |
| Account Payables | $585M |
| Short-Term Debt | $0 |
| Deferred Revenue | $247M |
| Other Current Liabilities | $104M |
| TOTAL CURRENT LIABILITIES | $1.0B |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $97M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $434M |
| TOTAL NON-CURRENT LIABILITIES | $531M |
| TOTAL LIABILITIES | $1.6B |
| Common Stock | $15.0K |
| Additional Paid-In Capital | $4.2B |
| Retained Earnings | -$2.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$298.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.6B |
| TOTAL LIABILITIES & EQUITY | $3.2B |
| Total Debt | $0 |
| Net Debt | -$766M |
