| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $362M | $351M | $265M | 3.1% | 36.7% |
| Op. Income | $75M | $3M | $97M | 2722.1% | -22.7% |
| Gross Margin | 61.9% | 41.2% | 62.6% | 20.6pp | -0.8pp |
| Net Margin | 16.5% | 0.3% | 27.3% | 16.2pp | -10.8pp |
| EPS (Diluted) | $0.63 | $0.01 | $1.18 | 5787.9% | -46.6% |
| Free Cash Flow | $120M | -$87M | -$5M | 237.3% | 2369.2% |
| Item | Amount |
|---|---|
| REVENUE | $362M |
| Cost of Revenue | $138M |
| GROSS PROFIT | $224M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $117M |
| SG&A Expenses | $117M |
| Other Expenses | $31M |
| Operating Expenses | $149M |
| Cost & Expenses | $287M |
| OPERATING INCOME | $75M |
| Interest Income | $351M |
| Interest Expense | $128M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $75M |
| Income Tax Expense | $15M |
| Net Income from Continuing Ops | $60M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $60M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $60M |
| D&A | $1M |
| EBIT | $75M |
| EBITDA | $77M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $362M |
| Cost of Revenue | $138M |
| GROSS PROFIT | $224M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $117M |
| SG&A Expenses | $117M |
| Other Expenses | $31M |
| Operating Expenses | $149M |
| Cost & Expenses | $287M |
| OPERATING INCOME | $75M |
| Interest Income | $351M |
| Interest Expense | $128M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $75M |
| Income Tax Expense | $15M |
| Net Income from Continuing Ops | $60M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $60M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $60M |
| D&A | $1M |
| EBIT | $75M |
| EBITDA | $77M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $60M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | -$3M |
| Other Non-Cash Items | $70M |
| Change in Working Capital | $3M |
| OPERATING CASH FLOW | $135M |
| Capital Expenditure | -$15M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$113M |
| Sales/Maturities of Investments | $117M |
| Other Investing Activities | -$438M |
| NET CASH FROM INVESTING | -$449M |
| Net Debt Issuance | $201M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$21M |
| Other Financing Activities | -$161M |
| NET CASH FROM FINANCING | $18M |
| FREE CASH FLOW | $120M |
| Net Change in Cash | -$295M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.1B |
| Short-Term Investments | $10M |
| Net Receivables | $77M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.2B |
| PP&E (Net) | $471M |
| Goodwill | $1.4B |
| Intangible Assets | $221M |
| Long-Term Investments | $22.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $960M |
| TOTAL NON-CURRENT ASSETS | $25.6B |
| TOTAL ASSETS | $26.7B |
| Account Payables | $0 |
| Short-Term Debt | $606M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $21.4B |
| TOTAL CURRENT LIABILITIES | $22.0B |
| Long-Term Debt | $559M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $311M |
| TOTAL NON-CURRENT LIABILITIES | $870M |
| TOTAL LIABILITIES | $22.9B |
| Common Stock | $489M |
| Additional Paid-In Capital | $2.4B |
| Retained Earnings | $1.1B |
| Treasury Stock | -$90M |
| Accum. Other Comp. Income | -$101M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.8B |
| TOTAL LIABILITIES & EQUITY | $26.7B |
| Total Debt | $1.2B |
| Net Debt | $81M |
