| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.0B | $742M | $965M | 40.9% | 8.2% |
| Op. Income | $341M | $187M | $313M | 82.9% | 9.0% |
| Gross Margin | 62.8% | 47.7% | 50.1% | 15.2pp | 12.7pp |
| Net Margin | 22.1% | 14.5% | 22.7% | 7.6pp | -0.5pp |
| EPS (Diluted) | $1.14 | $0.53 | $1.09 | 115.1% | 4.6% |
| Free Cash Flow | $921M | $65M | $103M | 1319.1% | 794.2% |
| Item | Amount |
|---|---|
| REVENUE | $1.0B |
| Cost of Revenue | $389M |
| GROSS PROFIT | $657M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $315M |
| Operating Expenses | $315M |
| Cost & Expenses | $704M |
| OPERATING INCOME | $341M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$65M |
| INCOME BEFORE TAX | $277M |
| Income Tax Expense | $46M |
| Net Income from Continuing Ops | $231M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $231M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $231M |
| D&A | $147M |
| EBIT | $284M |
| EBITDA | $430M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $1.0B |
| Cost of Revenue | $389M |
| GROSS PROFIT | $657M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $315M |
| Operating Expenses | $315M |
| Cost & Expenses | $704M |
| OPERATING INCOME | $341M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$65M |
| INCOME BEFORE TAX | $277M |
| Income Tax Expense | $46M |
| Net Income from Continuing Ops | $231M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $231M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $231M |
| D&A | $147M |
| EBIT | $284M |
| EBITDA | $430M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $231M |
| Depreciation & Amortization | $147M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | -$4M |
| Change in Working Capital | $22M |
| OPERATING CASH FLOW | $398M |
| Capital Expenditure | $523M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$771M |
| NET CASH FROM INVESTING | -$248M |
| Net Debt Issuance | -$68M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$85M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$150M |
| FREE CASH FLOW | $921M |
| Net Change in Cash | -$200.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $300.0K |
| Short-Term Investments | $0 |
| Net Receivables | $533M |
| Inventory | $0 |
| Other Current Assets | $455M |
| TOTAL CURRENT ASSETS | $988M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $13.3B |
| TOTAL NON-CURRENT ASSETS | $13.3B |
| TOTAL ASSETS | $14.3B |
| Account Payables | $276M |
| Short-Term Debt | $466M |
| Deferred Revenue | $123M |
| Other Current Liabilities | $275M |
| TOTAL CURRENT LIABILITIES | $1.2B |
| Long-Term Debt | $5.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1.4B |
| Other Non-Current Liabilities | $1.4B |
| TOTAL NON-CURRENT LIABILITIES | $8.2B |
| TOTAL LIABILITIES | $9.5B |
| Common Stock | $1.2B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $3.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.8B |
| TOTAL LIABILITIES & EQUITY | $14.3B |
| Total Debt | $5.8B |
| Net Debt | $5.8B |
