| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $590M | $761M | — | -22.5% | — |
| Op. Income | $118M | $248M | — | -52.5% | — |
| Gross Margin | 78.3% | 65.0% | — | 13.3pp | — |
| Net Margin | 24.7% | 27.6% | — | -2.8pp | — |
| EPS (Diluted) | $2.25 | $1.57 | — | 42.9% | — |
| Item | Amount |
|---|---|
| REVENUE | $590M |
| Cost of Revenue | $128M |
| GROSS PROFIT | $462M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $344M |
| Operating Expenses | $344M |
| Cost & Expenses | $472M |
| OPERATING INCOME | $118M |
| Interest Income | $318M |
| Interest Expense | $0 |
| Other Income/Expenses | $48M |
| INCOME BEFORE TAX | $166M |
| Income Tax Expense | $20M |
| Net Income from Continuing Ops | $146M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$1 |
| NET INCOME | $146M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $146M |
| D&A | $0 |
| EBIT | $166M |
| EBITDA | $166M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $590M |
| Cost of Revenue | $128M |
| GROSS PROFIT | $462M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $344M |
| Operating Expenses | $344M |
| Cost & Expenses | $472M |
| OPERATING INCOME | $118M |
| Interest Income | $318M |
| Interest Expense | $0 |
| Other Income/Expenses | $48M |
| INCOME BEFORE TAX | $166M |
| Income Tax Expense | $20M |
| Net Income from Continuing Ops | $146M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$1 |
| NET INCOME | $146M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $146M |
| D&A | $0 |
| EBIT | $166M |
| EBITDA | $166M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.1B |
| Short-Term Investments | $417M |
| Net Receivables | $518M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $2.0B |
| PP&E (Net) | $93M |
| Goodwill | $0 |
| Intangible Assets | $8M |
| Long-Term Investments | $5.7B |
| Tax Assets | $202M |
| Other Non-Current Assets | $331M |
| TOTAL NON-CURRENT ASSETS | $6.3B |
| TOTAL ASSETS | $8.3B |
| Account Payables | $0 |
| Short-Term Debt | $325M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $325M |
| Long-Term Debt | $231M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $47M |
| Other Non-Current Liabilities | $4.2B |
| TOTAL NON-CURRENT LIABILITIES | $4.5B |
| TOTAL LIABILITIES | $4.8B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $3.5B |
| TOTAL STOCKHOLDERS' EQUITY | $3.5B |
| Minority Interest | $6M |
| TOTAL EQUITY | $3.5B |
| TOTAL LIABILITIES & EQUITY | $8.3B |
| Total Debt | $556M |
| Net Debt | -$546M |
