| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $682M | $665M | $605M | 2.6% | 12.7% |
| Op. Income | $8M | -$16M | -$83M | 150.0% | 109.6% |
| Gross Margin | 76.8% | 76.4% | 76.0% | 0.4pp | 0.8pp |
| Net Margin | 3.4% | 2.4% | -7.3% | 1.0pp | 10.6pp |
| EPS (Diluted) | $0.13 | $0.09 | $-0.27 | 38.7% | 148.1% |
| Free Cash Flow | $284M | $154M | $166M | 84.4% | 71.1% |
| Item | Amount |
|---|---|
| REVENUE | $682M |
| Cost of Revenue | $158M |
| GROSS PROFIT | $524M |
| R&D Expenses | $157M |
| Selling & Marketing | $235M |
| General & Administrative | $113M |
| SG&A Expenses | $348M |
| Other Expenses | $11M |
| Operating Expenses | $516M |
| Cost & Expenses | $674M |
| OPERATING INCOME | $8M |
| Interest Income | $24M |
| Interest Expense | $1M |
| Other Income/Expenses | $23M |
| INCOME BEFORE TAX | $31M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $23M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $23M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $23M |
| D&A | $24M |
| EBIT | $32M |
| EBITDA | $56M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $682M |
| Cost of Revenue | $158M |
| GROSS PROFIT | $524M |
| R&D Expenses | $157M |
| Selling & Marketing | $235M |
| General & Administrative | $113M |
| SG&A Expenses | $348M |
| Other Expenses | $11M |
| Operating Expenses | $516M |
| Cost & Expenses | $674M |
| OPERATING INCOME | $8M |
| Interest Income | $24M |
| Interest Expense | $1M |
| Other Income/Expenses | $23M |
| INCOME BEFORE TAX | $31M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $23M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $23M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $23M |
| D&A | $24M |
| EBIT | $32M |
| EBITDA | $56M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $23M |
| Depreciation & Amortization | $24M |
| Stock-Based Compensation | $131M |
| Deferred Income Tax | $4M |
| Other Non-Cash Items | $36M |
| Change in Working Capital | $68M |
| OPERATING CASH FLOW | $286M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$559M |
| Sales/Maturities of Investments | $384M |
| Other Investing Activities | -$1M |
| NET CASH FROM INVESTING | -$177M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$7M |
| NET CASH FROM FINANCING | -$7M |
| FREE CASH FLOW | $284M |
| Net Change in Cash | $97M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $409M |
| Short-Term Investments | $2.1B |
| Net Receivables | $621M |
| Inventory | $0 |
| Other Current Assets | $272M |
| TOTAL CURRENT ASSETS | $3.4B |
| PP&E (Net) | $117M |
| Goodwill | $5.4B |
| Intangible Assets | $138M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $318M |
| TOTAL NON-CURRENT ASSETS | $6.0B |
| TOTAL ASSETS | $9.4B |
| Account Payables | $13M |
| Short-Term Debt | $509M |
| Deferred Revenue | $1.7B |
| Other Current Liabilities | $207M |
| TOTAL CURRENT LIABILITIES | $2.5B |
| Long-Term Debt | $349M |
| Deferred Revenue NC | $27M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $39M |
| TOTAL NON-CURRENT LIABILITIES | $509M |
| TOTAL LIABILITIES | $3.0B |
| Common Stock | $0 |
| Additional Paid-In Capital | $9.2B |
| Retained Earnings | -$2.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$12M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $6.4B |
| TOTAL LIABILITIES & EQUITY | $9.4B |
| Total Debt | $952M |
| Net Debt | $543M |
