| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $838M | $840M | $788M | -0.2% | 6.4% |
| Op. Income | $247M | $272M | $219M | -9.1% | 13.1% |
| Gross Margin | 80.8% | 43.5% | 39.4% | 37.3pp | 41.3pp |
| Net Margin | 23.5% | 24.6% | 21.2% | -1.1pp | 2.3pp |
| EPS (Diluted) | $6.13 | $6.35 | $4.96 | -3.5% | 23.6% |
| Free Cash Flow | $326M | $215M | $268M | 51.4% | 21.5% |
| Item | Amount |
|---|---|
| REVENUE | $838M |
| Cost of Revenue | $161M |
| GROSS PROFIT | $677M |
| R&D Expenses | $0 |
| Selling & Marketing | $188M |
| General & Administrative | $70M |
| SG&A Expenses | $258M |
| Other Expenses | $172M |
| Operating Expenses | $430M |
| Cost & Expenses | $591M |
| OPERATING INCOME | $247M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $247M |
| Income Tax Expense | $50M |
| Net Income from Continuing Ops | $197M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $197M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $197M |
| D&A | $5M |
| EBIT | $253M |
| EBITDA | $258M |
| EPS | $6 |
| EPS Diluted | $6 |
| Item | Amount |
|---|---|
| REVENUE | $838M |
| Cost of Revenue | $161M |
| GROSS PROFIT | $677M |
| R&D Expenses | $0 |
| Selling & Marketing | $188M |
| General & Administrative | $70M |
| SG&A Expenses | $258M |
| Other Expenses | $172M |
| Operating Expenses | $430M |
| Cost & Expenses | $591M |
| OPERATING INCOME | $247M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $247M |
| Income Tax Expense | $50M |
| Net Income from Continuing Ops | $197M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $197M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $197M |
| D&A | $5M |
| EBIT | $253M |
| EBITDA | $258M |
| EPS | $6 |
| EPS Diluted | $6 |
| Item | Amount |
|---|---|
| Net Income | $196M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$74M |
| Change in Working Capital | $207M |
| OPERATING CASH FLOW | $334M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$203M |
| Sales/Maturities of Investments | $112M |
| Other Investing Activities | -$7M |
| NET CASH FROM INVESTING | -$120M |
| Net Debt Issuance | -$57.0K |
| Common Stock Repurchased | -$70M |
| Common Dividends Paid | -$33M |
| Other Financing Activities | -$683.0K |
| NET CASH FROM FINANCING | -$104M |
| FREE CASH FLOW | $326M |
| Net Change in Cash | $111M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $756M |
| Short-Term Investments | $3.3B |
| Net Receivables | $275M |
| Inventory | $0 |
| Other Current Assets | -$275M |
| TOTAL CURRENT ASSETS | $4.0B |
| PP&E (Net) | $42M |
| Goodwill | $0 |
| Intangible Assets | $45M |
| Long-Term Investments | $3.3B |
| Tax Assets | $132M |
| Other Non-Current Assets | -$3.4B |
| TOTAL NON-CURRENT ASSETS | $87M |
| TOTAL ASSETS | $15.0B |
| Account Payables | $495M |
| Short-Term Debt | $8M |
| Deferred Revenue | $16M |
| Other Current Liabilities | $21M |
| TOTAL CURRENT LIABILITIES | $744M |
| Long-Term Debt | $1.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $28M |
| Other Non-Current Liabilities | $8.2B |
| TOTAL NON-CURRENT LIABILITIES | $10.0B |
| TOTAL LIABILITIES | $12.6B |
| Common Stock | $318.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $2.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $29M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.4B |
| TOTAL LIABILITIES & EQUITY | $15.0B |
| Total Debt | $1.8B |
| Net Debt | $1.1B |
