| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $500M | $408M | $416M | 22.6% | 20.0% |
| Op. Income | $157M | $79M | $103M | 99.0% | 51.5% |
| Gross Margin | 32.0% | 19.6% | 25.8% | 12.5pp | 6.3pp |
| Net Margin | 24.9% | 15.5% | 19.7% | 9.4pp | 5.2pp |
| EPS (Diluted) | $1.34 | $0.68 | $0.89 | 97.1% | 50.6% |
| Free Cash Flow | $176M | $102M | $139M | 71.6% | 26.4% |
| Item | Amount |
|---|---|
| REVENUE | $500M |
| Cost of Revenue | $340M |
| GROSS PROFIT | $160M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | -$1M |
| Operating Expenses | $4M |
| Cost & Expenses | $343M |
| OPERATING INCOME | $157M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $157M |
| Income Tax Expense | $32M |
| Net Income from Continuing Ops | $124M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $124M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $124M |
| D&A | $0 |
| EBIT | $158M |
| EBITDA | $158M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $500M |
| Cost of Revenue | $340M |
| GROSS PROFIT | $160M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | -$1M |
| Operating Expenses | $4M |
| Cost & Expenses | $343M |
| OPERATING INCOME | $157M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $157M |
| Income Tax Expense | $32M |
| Net Income from Continuing Ops | $124M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $124M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $124M |
| D&A | $0 |
| EBIT | $158M |
| EBITDA | $158M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $124M |
| Depreciation & Amortization | -$2M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $51M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $175M |
| Capital Expenditure | $1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $196M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$362M |
| NET CASH FROM INVESTING | -$166M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$15M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$15M |
| FREE CASH FLOW | $176M |
| Net Change in Cash | -$6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $21M |
| Short-Term Investments | $1.2B |
| Net Receivables | $1.0B |
| Inventory | $0 |
| Other Current Assets | -$2.3B |
| TOTAL CURRENT ASSETS | $0 |
| PP&E (Net) | $42M |
| Goodwill | $46M |
| Intangible Assets | $8M |
| Long-Term Investments | $4.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$4.5B |
| TOTAL NON-CURRENT ASSETS | $0 |
| TOTAL ASSETS | $6.0B |
| Account Payables | $33M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$124M |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $100M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3M |
| Other Non-Current Liabilities | -$103M |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $4.3B |
| Common Stock | $1M |
| Additional Paid-In Capital | $373M |
| Retained Earnings | $1.9B |
| Treasury Stock | -$406M |
| Accum. Other Comp. Income | -$125M |
| Other Equity | $13M |
| TOTAL STOCKHOLDERS' EQUITY | $1.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.7B |
| TOTAL LIABILITIES & EQUITY | $6.0B |
| Total Debt | $100M |
| Net Debt | $79M |
