| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.4B | $2.5B | $2.4B | -1.9% | 0.9% |
| Op. Income | $708M | $708M | $657M | 0.0% | 7.8% |
| Gross Margin | 79.8% | 73.8% | 71.0% | 6.0pp | 8.8pp |
| Net Margin | 22.2% | 23.2% | 22.4% | -1.0pp | -0.2pp |
| EPS (Diluted) | $0.58 | $0.61 | $0.56 | -4.9% | 3.6% |
| Free Cash Flow | -$324M | $853M | -$229M | -138.0% | -41.5% |
| Item | Amount |
|---|---|
| REVENUE | $2.4B |
| Cost of Revenue | $487M |
| GROSS PROFIT | $1.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $28M |
| General & Administrative | $820M |
| SG&A Expenses | $848M |
| Other Expenses | $365M |
| Operating Expenses | $1.2B |
| Cost & Expenses | $1.7B |
| OPERATING INCOME | $708M |
| Interest Income | $1.8B |
| Interest Expense | $487M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $708M |
| Income Tax Expense | $174M |
| Net Income from Continuing Ops | $534M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $534M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $514M |
| D&A | $22M |
| EBIT | $708M |
| EBITDA | $730M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $2.4B |
| Cost of Revenue | $487M |
| GROSS PROFIT | $1.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $28M |
| General & Administrative | $820M |
| SG&A Expenses | $848M |
| Other Expenses | $365M |
| Operating Expenses | $1.2B |
| Cost & Expenses | $1.7B |
| OPERATING INCOME | $708M |
| Interest Income | $1.8B |
| Interest Expense | $487M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $708M |
| Income Tax Expense | $174M |
| Net Income from Continuing Ops | $534M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $534M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $514M |
| D&A | $22M |
| EBIT | $708M |
| EBITDA | $730M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $534M |
| Depreciation & Amortization | $22M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | -$27M |
| Other Non-Cash Items | -$1.2B |
| Change in Working Capital | $340M |
| OPERATING CASH FLOW | -$319M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1.3B |
| Sales/Maturities of Investments | $902M |
| Other Investing Activities | $634M |
| NET CASH FROM INVESTING | $218M |
| Net Debt Issuance | -$1.2B |
| Common Stock Repurchased | -$430M |
| Common Dividends Paid | -$235M |
| Other Financing Activities | $794M |
| NET CASH FROM FINANCING | -$1.1B |
| FREE CASH FLOW | -$324M |
| Net Change in Cash | -$1.2B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $10.9B |
| Short-Term Investments | $27.6B |
| Net Receivables | $571M |
| Inventory | $0 |
| Other Current Assets | $511M |
| TOTAL CURRENT ASSETS | $39.5B |
| PP&E (Net) | $1.7B |
| Goodwill | $5.7B |
| Intangible Assets | $140M |
| Long-Term Investments | $5.6B |
| Tax Assets | $0 |
| Other Non-Current Assets | $94.1B |
| TOTAL NON-CURRENT ASSETS | $107.2B |
| TOTAL ASSETS | $159.6B |
| Account Payables | $0 |
| Short-Term Debt | $750M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $131.1B |
| TOTAL CURRENT LIABILITIES | $131.9B |
| Long-Term Debt | $4.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $4.1B |
| TOTAL LIABILITIES | $140.4B |
| Common Stock | $9M |
| Additional Paid-In Capital | $10.4B |
| Retained Earnings | $10.2B |
| Treasury Stock | -$1.4B |
| Accum. Other Comp. Income | -$1.5B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $19.0B |
| Minority Interest | $60M |
| TOTAL EQUITY | $19.1B |
| TOTAL LIABILITIES & EQUITY | $159.6B |
| Total Debt | $4.9B |
| Net Debt | -$6.0B |
