| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | -$446M | $354M | $348M | -225.9% | -228.1% |
| Op. Income | -$724M | $64M | $26M | -1236.8% | -2937.2% |
| Gross Margin | 131.1% | 56.2% | 45.8% | 74.9pp | 85.3pp |
| Net Margin | 126.2% | 15.5% | 7.1% | 110.7pp | 119.1pp |
| EPS (Diluted) | $-4.00 | $0.43 | $0.20 | -1030.2% | -2100.0% |
| Free Cash Flow | $217M | $66M | $188M | 226.9% | 15.5% |
| Item | Amount |
|---|---|
| REVENUE | -$446M |
| Cost of Revenue | $139M |
| GROSS PROFIT | -$585M |
| R&D Expenses | $0 |
| Selling & Marketing | $7M |
| General & Administrative | $81M |
| SG&A Expenses | $88M |
| Other Expenses | $51M |
| Operating Expenses | $139M |
| Cost & Expenses | $278M |
| OPERATING INCOME | -$724M |
| Interest Income | $313M |
| Interest Expense | $127M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$724M |
| Income Tax Expense | -$161M |
| Net Income from Continuing Ops | -$563M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$563M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$563M |
| D&A | $10M |
| EBIT | -$724M |
| EBITDA | -$714M |
| EPS | -$4 |
| EPS Diluted | -$4 |
| Item | Amount |
|---|---|
| Net Income | -$563M |
| Depreciation & Amortization | $10M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | -$164M |
| Other Non-Cash Items | $814M |
| Change in Working Capital | $123M |
| OPERATING CASH FLOW | $223M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $1M |
| Purchases of Investments | -$526M |
| Sales/Maturities of Investments | $2.4B |
| Other Investing Activities | -$85M |
| NET CASH FROM INVESTING | $1.8B |
| Net Debt Issuance | -$331M |
| Common Stock Repurchased | -$479.0K |
| Common Dividends Paid | -$31M |
| Other Financing Activities | -$2.0B |
| NET CASH FROM FINANCING | -$2.0B |
| FREE CASH FLOW | $217M |
| Net Change in Cash | -$845.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $644M |
| Short-Term Investments | $2.3B |
| Net Receivables | $104M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $3.0B |
| PP&E (Net) | $568M |
| Goodwill | $1.3B |
| Intangible Assets | $88M |
| Long-Term Investments | $18.0B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.2B |
| TOTAL NON-CURRENT ASSETS | $21.2B |
| TOTAL ASSETS | $24.2B |
| Account Payables | $0 |
| Short-Term Debt | $22M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $19.8B |
| TOTAL CURRENT LIABILITIES | $19.9B |
| Long-Term Debt | $668M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $326M |
| TOTAL NON-CURRENT LIABILITIES | $994M |
| TOTAL LIABILITIES | $20.9B |
| Common Stock | $1M |
| Additional Paid-In Capital | $2.8B |
| Retained Earnings | $817M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$313M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.4B |
| TOTAL LIABILITIES & EQUITY | $24.2B |
| Total Debt | $690M |
| Net Debt | $46M |
